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Amazon to stop accepting UK Visa credit cards

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Re: Amazon to stop accepting UK Visa credit cards

#391

Post by Dah00n »

tumetab1 wrote: post #362
tumetab1 wrote: post #270

Earlier quoted context omitted.

Because regulations which goverments supports because they prefer digital transactions to physical money for several reasons. (EU country perspective) By VISA/ MasterCard contract backed by governments' regulations a merchant in EU can not charge more because he's using a card instead of cash. Of course the transactions costs are paid by the customer, it's just all customers instead of those paying by card. That's wh…

To clarify, it seems that transactions costs vary a lot in the EU. I have the prices in Portugal for 2 terminal payments provider and I see lot of comissions around 2% which is strange because the EU states that the comissions are much lower. No idea what's going here.

Aren't you looking at the PoS fee instead of the VISA fee?

Re: Amazon to stop accepting UK Visa credit cards

#393

Post by wayoutthere »

stronglikedan wrote: post #383
PeterisP wrote: post #360

Earlier quoted context omitted.

Brexit is the gift that keeps on giving!

The path to the better destination is sometimes the bumpier path.

I don’t know what power or leverage a country of 65 million thinks it has over the world. Companies / trading partners can simply ignore the UK now with few consequences. The UK has been on a long, slow decline of global relevance since the Victorian era. I don’t know why that would stop with Brexit.

Re: Amazon to stop accepting UK Visa credit cards

#395

Post by scaryclam »

mattowen_uk wrote: post #370
b112 wrote: post #311

Earlier quoted context omitted.

I think this is being misstated by GP. It isn't that a lack of credit card hurts your credit rating, but that a lack of any credit hurts your credit rating in Canada or the US. There are other ways to get an initial credit rating than a credit card, although I agree that this is the path most easy, and chosen by many to get that first rating. The method I employed, was to buy a car and had a parent cosign. I made all…

Ah but, for most people it's easier to get a low-limit credit card in the UK, than it is to get any other unsecured loan. I also didn't say 'you need a credit card to get a good credit score', I said not having one will negatively impact your score. This is 100% correct; Your credit score is made up of various metrics on how you manage debt, one of which is credit cards. You will get a % boost if you have a card that…

You can use direct debits instead of loans and are available for a really wide variety of payments, so is easier and safer than getting a credit card for many people.

Re: Amazon to stop accepting UK Visa credit cards

#396

Post by kmlx »

ethbr0 wrote: post #368
input_sh wrote: post #79

Earlier quoted context omitted.

Here's why: two debit cards, one for receiving money, one for spending money. Automated payment from the 1st one to the 2nd one once a month with a fixed amount you expect to spend in a month. Nothing to pay off, you're spending your own money, can't be overcharged, can't go below zero, if someone leaks your spending card they can't touch the majority of your money, no scummy business practices. Never owned a credit…

Do UK credit cards typically offer cash back? In the US, 2%+ on all purchases (either directly or through points) is pretty standard. Going up to 5%+. But I know this can be very different in other countries. I believe Japan has little to no incentives?

amex does this in the uk

Re: Amazon to stop accepting UK Visa credit cards

#397

Post by LatteLazy »

toomuchtodo wrote: post #303
kall wrote: post #240

Earlier quoted context omitted.

"We“ don‘t. In the EU, the base fee is capped at 0.2% (debit) and 0.3% (credit) which sounds reasonable for what they provide.

Which doesn’t apply in the UK post Brexit, hence this situation. The UK could cram down interchange fees (such that the EU had) with their own regulation if they don’t want merchants banning rent seeking payment networks.

The whole point of brexit was to get rid of the sort of fair, efficient, reasonable legislation the EU pushes. Brits want to be fucked over by big US mega corps and are tired of the EU refusing them that right. As a Brit I wish it wasn't true but here we are.

Re: Amazon to stop accepting UK Visa credit cards

#398

Post by Dah00n »

toyg wrote: post #119
blowfish721 wrote: post #108

Earlier quoted context omitted.

Downside of this as a tourist/visitor in Denmark at least some smaller shops force you to pay with cash since they don’t accept visa/mastercard but only the national debit card. Just a minor annoyance at least as a Swede since we don’t usually carry cash these days.

I reckon a situation like that is un-European, the Commission will probably step in at some point.

How is it un-European for Denmark to prefer (if they actually do so) a national Danish (hence EU member) card above an American card?

Re: Amazon to stop accepting UK Visa credit cards

#399

Post by simfree »

ComputerGuru wrote: post #377
rexreed wrote: post #375

Earlier quoted context omitted.

More detail here: https://news.sky.com/story/visa-to-hike-interchange-fees-for... But a curious note from that article: "The move to increase interchange fees will bring it into line with MasterCard, its rival payments group, which announced a similar move in January." So why is Amazon restricting customers with Visa and not MasterCard? Can't be the UK-EU Post-Brexit policy alone.

The Amazon branded credit card is a MasterCard in the UK. So Visa raises its rates to match MC, but AMZ has a special relationship with the latter.

Note that this special relationship only likely applies to transactions that use the Amazon MasterCard on Amazon.com, and MasterCards issued by other companies still impose full rates.

Costco ran into this with American Express, though in retrospect the move to Visa seems like a worse move (more non-Costco Visa cards in circulation).

Re: Amazon to stop accepting UK Visa credit cards

#400

Post by xeromal »

MadeThisToReply wrote: post #392
xeromal wrote: post #352

Earlier quoted context omitted.

Haha, for some reason, my Appalachian heritage likes to throw in just, just about anywhere.

Do Appalachians say "just" a lot? I don't get it.

At least the region where I'm from, it's kind of a filler word like uhm
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