Amazon to stop accepting UK Visa credit cards

Post by youngtaff » Wed, Nov 17, 2021, 2:07 PM UTC

martin-adams wrote: post #345

youngtaff wrote: post #337

There's a huge piece of information missing from that article and much of the reporting of Amazon's decision Visa have put up UK-EU interchange fees (as post Brexit they're not covered by the cap) But it affects Amazon because when you buy something from Amazon UK, you're billed by Amazon Luxembourg and Amazon UK then fulfil Amazon's tax avoidance strategy is part of the reason the charge has increased for them. If t…

Is that the case for non-digital goods? When I look at my credit card statement, all the Amazon transactions go to Great Britain.

Post by fanf2 » Wed, Nov 17, 2021, 2:12 PM UTC

rjsw wrote: post #278

em10fan wrote: post #14

Earlier quoted context omitted.

Totally agree. All the major banks apart from Barclays and HSBC use Mastercard for credit

My HSBC credit card has always been Mastercard.

Post by maccard » Wed, Nov 17, 2021, 2:17 PM UTC

nixass wrote: post #308

maccard wrote: post #265

Earlier quoted context omitted.

There are many amex cards which don't have any fees, they even have a filter for them on their website [0] https://www.americanexpress.com/uk/credit-cards/all-cards/?i...

Amex is terrible card in EU. High fees, many places rejecting it, I see no real reason why to use Amex over Visa or Master/Maestro

Post by radiator » Wed, Nov 17, 2021, 2:19 PM UTC

gtirloni wrote: post #206

azalemeth wrote: post #146

Earlier quoted context omitted.

If anything, that's an argument in favour of the whole thing being government controlled -- it's clearly a natural monopoly with a large capital expenditure requirement and a comparatively minimal (as a percentage of transactions) ongoing charge required to continue to run it. I mean, it clearly doesn't cost Visa / MC any more to make a £/$/€45 000 payment than a £/$/€5 one – database writes are not cheaper or more e…

Brazil has gone that route with PIX [0]. It's a fund transfer system with realtime confirmation. Many e-commerce stores accept it besides debit/credit, they can confirm the payment almost instantaneously and they usually give discounts if you use PIX instead of debit/credit (3-10%). Also, paying at stores, clinics, doctors, etc.. all done with PIX nowadays. Very few people are carrying cash these days. Very few clini…

Post by [deleted] » Wed, Nov 17, 2021, 2:21 PM UTC

maccard wrote: post #272

mFixman wrote: post #147

Earlier quoted context omitted.

The Australian practice seems fair though. If you force cash and credit card transactions to be the same price then the extra 0.5% is charged to everyone, and outside of extreme cases like this post there is little incentive for credit card operators to lower their fee.

Why is that only applied to credit card transactions, and not transactions by debit card (which banks also charge for) or for handling cash?