Amazon to stop accepting UK Visa credit cards

Post by sbisson » Wed, Nov 17, 2021, 10:52 AM UTC

toyg wrote: post #111

gambiting wrote: post #85

Earlier quoted context omitted.

You must be an actual anomaly, like yeah, what you are saying makes sense, but you are the only person I've ever heard about who does that here in UK. Everyone I know, me included, just uses debit cards for purchases everywhere including Amazon. I have a credit card but I very very very rarely use it for anything.

Uk here, I use credit cards for everything. Used wisely, consumer credit is incredibly useful. Example: bought a 4k motorbike, dealer finance or savings drawdown would have cost me hundreds; slapped it all on an 18-months 0% card and am now slowly repaying it on my own schedule, at no extra cost, while happily riding the thing.

Post by soco » Wed, Nov 17, 2021, 10:53 AM UTC

ralferoo wrote: post #36

barrkel wrote: post #2

I 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.

Post by mcbain » Wed, Nov 17, 2021, 10:56 AM UTC

softveda wrote: post #74

barrkel wrote: post #2

I 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/…

Amazon Australia has started charging 0.5% for Visa cards. In Australia a merchant can charge more for payment by credit card but only up to the actual extra cost they incur.

Post by throwaway287391 » Wed, Nov 17, 2021, 10:57 AM UTC

gambiting wrote: post #85

mrec wrote: post #43

Earlier quoted context omitted.

> most people buying stuff on Amazon would be using a debit card, folks only really use credit cards for large purchases Huh? I'm in the UK, have been an Amazon customer for over 20 years and have always used a credit card for everything. I didn't even know you could use a debit card, and can't see any reason you'd want to. Paid off in full every month, better consumer protection, what's not to like?

You must be an actual anomaly, like yeah, what you are saying makes sense, but you are the only person I've ever heard about who does that here in UK. Everyone I know, me included, just uses debit cards for purchases everywhere including Amazon. I have a credit card but I very very very rarely use it for anything.

Post by buro9 » Wed, Nov 17, 2021, 10:59 AM UTC

andycowley wrote: post #53

This was from March about Brexit-related interchange rates on Visa https://news.sky.com/story/visa-to-hike-interchange-fees-for...