Amazon to stop accepting UK Visa credit cards • Hacker News Board

Re: Amazon to stop accepting UK Visa credit cards

#231

Post by drstewart » Wed, Nov 17, 2021, 12:11 PM UTC

larschdk wrote: post #37

ZeroGravitas wrote: post #5

Has 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).

Danes have to pay a fee in order to get payment cards? I thought consumer protection was big there.

Re: Amazon to stop accepting UK Visa credit cards

#232

Post by socialdemocrat » Wed, Nov 17, 2021, 12:11 PM UTC

mattowen_uk wrote: post #159

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…

> Never owned a credit card, don't have the slightest wish to do so. Bizarrely, never owning a credit card will negatively impact your credit rating.

I know this is a thing in the US, but in Norway where I am from it doesn’t matter. Nobody gets a credit card here improve credit rating. I doubt people do they in most of Europe.

When somebody does a credit check on you they don’t get a score, only a remark on whether that person has done any negative with respect to their credit worthiness. Thus there is really only the negatives which count.

Re: Amazon to stop accepting UK Visa credit cards

#233

Post by Cu3PO42 » Wed, Nov 17, 2021, 12:12 PM UTC

3guk wrote: post #158

Cu3PO42 wrote: post #149

Earlier quoted context omitted.

In Germany, we have our own debit card scheme called 'girocard' owned jointly by a group of German banks that has very low fees. Unfortunately, this card does not work for online payments, which has lead to PayPal being extremely popular. Other solutions, some national, some international exist as well, but have comparatively high fees. Amazon Germany allows users to pay via SEPA direct debit from any European bank a…

Oh don't get me started with the EC card shenanigans - I've had so many problems in Munich with shops demanding an EC card as the only form of card accepted. Drives me crazy that in some cases it's either that (which is unavailable to non German residents) or cash....

Ironically, an EC card these days is just a MasterCard. They used to be called EC (EuroCheque) card, but rebranded in 2007 when MasterCard was ousted from the system. MC kept the brand rights and didn't do anything with them for a decade. Meanwhile people kept using the old name. Now, however, MC started using the brand for some debit MasterCards, which can lead to great confusion by unsuspecting merchants.

That said, for many shops it was either girocard and cash or just cash only. Merchants just weren't willing to eat the fees associated with other card schemes.

Things have changed, though. The EU has capped the interchange fees of four party debit and credit cards to 0.2% and 0.3% respectively and now most shops tend to accept MasterCard and Visa as well.

Re: Amazon to stop accepting UK Visa credit cards

#234

Post by navbaker » Wed, Nov 17, 2021, 12:13 PM UTC

cjrp wrote: post #207

nly wrote: post #157

Earlier quoted context omitted.

Perks on credit cards in the UK are almost non existent because the fees are so low compared to he US. Historically the EU regulated to crush credit card transaction fees. That said, I do get annual cashback of 1% on one of my cards.

Cashback perks aren't great, but the airline credit cards are quite good if you'll definitely use the miles.

We use a card that gives generic points instead of airline miles on each dollar spent and those points pay for our vacation lodging each year.

Re: Amazon to stop accepting UK Visa credit cards

#235

Post by billyruffian » Wed, Nov 17, 2021, 12:14 PM UTC

dazc wrote: post #65

00deadbeef wrote: post #54

Earlier quoted context omitted.

Any idea why Amex would be so popular in London? I'd never even consider an Amex card due to my perception of it being something that many places won't even accept.

Status symbol?

I had my wallet nicked in Padstow on the last day of a trip there and was just about take the 3.5 hour drive home. Problem was I didn't have enough fuel to make it. My CC providers took ages to even answer the phone and cancel the cards. Amex dealt with it a just a few mins, arranged to courier a replacement card to me by the next day and authorised a fuelling stop for me on my way home. I'll never be without one, ever.

Re: Amazon to stop accepting UK Visa credit cards

#236

Post by gifnamething » Wed, Nov 17, 2021, 12:14 PM UTC

mattowen_uk wrote: post #159

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…

> Never owned a credit card, don't have the slightest wish to do so. Bizarrely, never owning a credit card will negatively impact your credit rating.

Expecting someone to lend you 6 figures when you've never displayed any ability to repay 2 is far more bizarre.

Re: Amazon to stop accepting UK Visa credit cards

#237

Post by [deleted] » Wed, Nov 17, 2021, 12:16 PM UTC

refurb wrote: post #213

iampims wrote: post #115

Earlier quoted context omitted.

And merchant add 2% to their base price which amounts to everyone not using a credit card “subsidizing” the benefits to all credit card users.

No, it’s not like at some point merchants said “oh yeah, let’s add 2% to account for credit card processing fees”. The appeal of credit cards is higher volume - more purchases because people can put it on credit, it’s more convenient, etc. That’s why you’ll see even roadside fruit stands offer credit card payments. Plus stores are in competition with each other (to varying degrees). Some will choose to absorb the ent…

[deleted]

Re: Amazon to stop accepting UK Visa credit cards

#238

Post by cameronh90 » Wed, Nov 17, 2021, 12:16 PM UTC

mrec wrote: post #43

em10fan wrote: post #12

Earlier quoted context omitted.

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…

> 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?

"I didn't even know you could use a debit card,"

Is there ever a situation that you can use a credit card but not a debit card? There are occasionally places that only accept debit cards, but I think the only time I've had a debit card refused was when hiring a car.

Re: Amazon to stop accepting UK Visa credit cards

#239

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

joshuaissac wrote: post #227

nicoburns wrote: post #136

Earlier quoted context omitted.

Huh, so the UK hasn't kept that law when leaving the EU? That's an odd decision!

They have, but it only applies in the same jurisdiction. So it still applies to intra-UK transactions and to intra-EU transactions. But not to transactions between the two.

Ah, that makes sense. Annoying, but makes sense.

Re: Amazon to stop accepting UK Visa credit cards

#240

Post by kall » Wed, Nov 17, 2021, 12:18 PM UTC

azalemeth wrote: post #110

I really don't get why we accept this de-facto tax on the world economy by US companies. Amex, Visa and Mastercard are all based in the US, and all charge a (nowadays) non-negotiable fee on selling anything. Cash has many problems, and clearly won't work for online purchases, but at least small business owners could pay their employees "out of the till" at the end of the week, bypassing bank transaction fees and a fa…

"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.