Amazon to stop accepting UK Visa credit cards
bloomberg.com
Amazon to stop accepting UK Visa credit cards
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Re: Amazon to stop accepting UK Visa credit cards
#2I cannot believe that Visa transaction overhead would be higher than Amex - there's something going on behind the scenes here.
I don't think this is the end of it either, it smells like a negotiation threat. Visa have a larger market share overall (80%, including debit cards [1]) but Mastercard leads in credit cards. Amex has always been fairly niche because it's not accepted everywhere.
[1] https://www.statista.com/statistics/1116580/payment-card-sch...
> Visa was the largest card issuer in Ireland and the United Kingdom, with market shares of over 80 percent in both countries. (from 2019)
Reading further it does look like most Visa cards are debit cards and Mastercard has the lead in credit cards.
PS: Comment updated after some research.
Re: Amazon to stop accepting UK Visa credit cards
#3If this is a negotiation tactic, why is it not a global proposal?
Perhaps because bank transfer is very developed in the UK, and wire transfers could totally replace credit cards, with lower fees?
On mobile devices, the effort to set up a wire transfer or direct debit is only maybe 1 minute for most users, and that's a one time thing, and unlike credit cards they don't expire either. Fees for the use of the system are effectively nil.
Re: Amazon to stop accepting UK Visa credit cards
#4I cannot believe that Visa transaction overhead would be higher than Amex - there's something going on behind the scenes here. I don't think this is the end of it either, it smells like a negotiation threat. Visa have a larger market share overall (80%, including debit cards [1]) but Mastercard leads in credit cards. Amex has always been fairly niche because it's not accepted everywhere. [1] https://www.statista.com/…
I think situation in 2021 is very different in London: AMEX is accepted nearly everywhere in central London (Even on markets etc), there are ofc some shops that don't take it but generally AMEX is widely accepted.
Re: Mastercard
It seems that Mastercard is more widespread among "hot" banking startups, ie I can create virtual debit Mastercards on Revolut and Monzo
Re: Amazon to stop accepting UK Visa credit cards
#5Has anyone successfully nationalised/regulated into sanity this business? It's 2021, buying stuff should involve neither precious metals nor weird faceless financial cooperatives owned by private banks.
Re: Amazon to stop accepting UK Visa credit cards
#6Well that's annoying. Visa credit cards are very common in the UK, I myself use one for everything online. I don't know anyone who's got an American Express card in the UK
Edit: Could it also be that Amazon offer their own Mastercard credit card and they're trying to nudge people towards that?
Re: Amazon to stop accepting UK Visa credit cards
#7I cannot believe that Visa transaction overhead would be higher than Amex - there's something going on behind the scenes here. I don't think this is the end of it either, it smells like a negotiation threat. Visa have a larger market share overall (80%, including debit cards [1]) but Mastercard leads in credit cards. Amex has always been fairly niche because it's not accepted everywhere. [1] https://www.statista.com/…
For my personal data point, 1 of 7 cards is Visa, the rest are Mastercard.
Re: Amazon to stop accepting UK Visa credit cards
#8If this is a negotiation tactic, why is it not a global proposal? Perhaps because bank transfer is very developed in the UK, and wire transfers could totally replace credit cards, with lower fees? On mobile devices, the effort to set up a wire transfer or direct debit is only maybe 1 minute for most users, and that's a one time thing, and unlike credit cards they don't expire either. Fees for the use of the system ar…
likely because Visa is increasing their fees in UK since Brexit unshackled them from some EU caps
Re: Amazon to stop accepting UK Visa credit cards
#9I cannot believe that Visa transaction overhead would be higher than Amex - there's something going on behind the scenes here. I don't think this is the end of it either, it smells like a negotiation threat. Visa have a larger market share overall (80%, including debit cards [1]) but Mastercard leads in credit cards. Amex has always been fairly niche because it's not accepted everywhere. [1] https://www.statista.com/…
Really never had a Visa credit card only master card in the UK. Visa debit cards, yes.
Re: Amazon to stop accepting UK Visa credit cards
#10If this is a negotiation tactic, why is it not a global proposal? Perhaps because bank transfer is very developed in the UK, and wire transfers could totally replace credit cards, with lower fees? On mobile devices, the effort to set up a wire transfer or direct debit is only maybe 1 minute for most users, and that's a one time thing, and unlike credit cards they don't expire either. Fees for the use of the system ar…
likely because Visa is increasing their fees in UK since Brexit unshackled them from some EU caps
I like this. If that’s the case, it proves the free market works. You don’t need regulations when corporations can strongarm one another.