I'd love to see a drill down of how exact the credit card scheme works regarding fees.
Like who is paid what exactly by whom. Is this somewhere available?
Amazon to stop accepting UK Visa credit cards
31–40 of 534 posts
Re: Amazon to stop accepting UK Visa credit cards
#32I 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/…
Quite the opposite in the UK, at least over the last 10 years or so. 99% of debit cards are Visa, and most people buying stuff on Amazon would be using a debit card, folks only really use credit cards for large purchases and things like travel, here. Even when it comes to credit cards, I would say Mastercard has like a large chunk - like 80% in terms of institutions (but who knows in terms of actual customers), I wou…
We put all our purchases on credit cards here in the UK (London) - but pay them off monthly. Amex Gold and Barclays Platinum Visa (it has 0 overseas fees, but a bit of a stingy limit. mostly just used where Amex isn't accpeted). Amazon lets you spend Amex points, so guessing the tie up runs deep. Best not to read into fights between gods.
Re: Amazon to stop accepting UK Visa credit cards
#33Re: Amazon to stop accepting UK Visa credit cards
#34I 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/…
First direct (HSBC) has recently switched from Visa to Mastercard. The switch felt sudden, and I wouldn’t be surprised if it was due to negotiation that fell through.
But so far only on it debit cards, it still offers visa credit cards.
Re: Amazon to stop accepting UK Visa credit cards
#35Has this been confirmed by Amazon? I received this notice and another one last week about my payment method expiring for one Amazon service but not any of the others on the same card. I couldn’t confirm that one either and it had the distinct whiff of phish about it.
Re: Amazon to stop accepting UK Visa credit cards
#36I 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/…
There might be something going on with Visa in the UK. I've noticed that all the bank accounts I've had that used Visa for debit cards for many years all seem to have switched to Mastercard recently. Presumably they wouldn't overcome this much inertia unless there was a substantial financial incentive. If card issuers are finding that their costs are too high, chances are payment processors are as well.
Re: Amazon to stop accepting UK Visa credit cards
#37Has 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.
Denmark has a standardized national debit card. Physical stores are not allowed to charge a fee, but online stores are (typically DKK1.50/$0.25). Works great, but obviously only for stores in Denmark. They are almost always combined with a Visa debit card on the same card for a yearly fee (typically DKK150/$25).
Re: Amazon to stop accepting UK Visa credit cards
#38Has 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.
Eh, Russia kind of has a thing =/
Re: Amazon to stop accepting UK Visa credit cards
#39I'd love to see a drill down of how exact the credit card scheme works regarding fees. Like who is paid what exactly by whom. Is this somewhere available?
Visa would lose face if they charged the end user with transaction fees, so the merchant pays it instead. Then the merchant delegates the transaction fee to the user, but thankfully nobody knows about that.
Re: Amazon to stop accepting UK Visa credit cards
#40Has this been confirmed by Amazon? I received this notice and another one last week about my payment method expiring for one Amazon service but not any of the others on the same card. I couldn’t confirm that one either and it had the distinct whiff of phish about it.
I've recieved an email from Amazon.co.uk about it as well. Although I can only go by the subject "Visa credit cards will not be accepted, starting 19 Jan, 2022". My email preferences on Amazon are set to text only, and the text only email has no useful content beyond my name and generic headers / footers.