{"id":193175,"date":"2022-01-17T12:50:22","date_gmt":"2022-01-17T12:50:22","guid":{"rendered":"https:\/\/www.theindustry.fashion\/?p=193175"},"modified":"2022-01-17T18:31:46","modified_gmt":"2022-01-17T18:31:46","slug":"amazon-reverses-decision-to-ban-customers-from-using-visa-credit-cards","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/amazon-reverses-decision-to-ban-customers-from-using-visa-credit-cards\/","title":{"rendered":"Amazon reverses decision to ban customers from using Visa credit cards"},"content":{"rendered":"

Amazon has carried out an 11th hour reversal of a decision to ban customers from using UK Visa credit cards on its website.<\/p>\n

<\/p>\n

The online retail giant\u00a0<\/strong>had been expecting to introduce the changes from this Wednesday,<\/strong>\u00a0having warned customers the card company\u2019s fees were too high.<\/p>\n

But Amazon said on Monday: \u201cThe expected change regarding the use of Visa credit cards \u202fon Amazon.co.uk will no longer take place on January 19.<\/p>\n

\u201cWe are working closely with Visa on a potential solution<\/strong> that will enable customers to continue using their Visa credit cards on Amazon.co.uk.\u201d<\/p>\n

A Visa spokesperson added: \u201cAmazon customers can continue to use Visa cards on Amazon.co.uk after January 19 while we work closely together to reach an agreement.\u201d<\/p>\n

Amazon did not rule out a future ban.\u00a0The website previously said it has made the decision due to \u201cthe high fees Visa charges for processing credit card transactions\u201d.<\/strong><\/p>\n

Amazon customers reported on Twitter that they had started to receive emails from the retailer, which confirmed they could continue using their cards as they do today and advance notice would be given if any changes related to Visa cards were made.<\/p>\n

One Twitter user wrote: \u201cI wasn\u2019t going to get a new credit card but use it as another incentive not to use them.\u201d<\/p>\n

Another wrote: \u201cEnded up getting an Amex with plan to use that instead on Amazon, but it\u2019s now given me a card that has much better cashback (didn\u2019t realise cashback on old Visa had ended) so worked out for me in the end.\u201d<\/p>\n

A further commentator wrote: \u201cMade no attempt to change cards as I always thought they would sort it out \u2013 which they appear to have done<\/strong>.\u201d<\/p>\n

The Payment Systems Regulator (PSR) previously said it had been in contact with Amazon and the big card schemes. Meanwhile The Federation of Small Businesses (FSB) claimed previously that scheme fees charged by card providers had soared in recent years.<\/p>\n

Neil Smith, head of strategic partnerships at Forter, a software as a service company that provides fraud prevention technology for online retailers and marketplaces, said the move \u201ccould signal a degree of compromise from both companies\u201d after a 2021 survey revealed a potential \u00a31.4bn loss for the e-commerce giant from the move.<\/strong><\/p>\n

\u201cGiven Amazon\u2019s UK market share, it\u2019s likely that Visa has agreed to negotiate on the fees it charges for credit card transactions<\/strong> \u2013 and may even have agreed to follow MasterCard\u2019s position,\u201d Smith said.<\/p>\n

\u201cEven a significant reduction in Visa\u2019s processing fees would be worthwhile in order to avoid the substantial loss of volume that access to Amazon\u2019s eCommerce marketplace offers.<\/p>\n

\u201cFrom a security perspective, this U-turn is beneficial for existing Amazon UK customers with a Visa-issued credit card, who can benefit from industry-leading secure customer authentication.<\/p>\n

\u201cWithout the ability to use PayPal at the point-of-checkout on Amazon (consumers can go through a long and tedious process to do so, such as using PayPal funds to purchase gift cards), consumers may be tempted to look at alternative methods that do not have as-stringent security verification in place<\/p>\n

\u201cAs far as Visa is concerned, if they have agreed to negotiate, they will feel the impact from the loss of processing fees from Amazon UK, and this may also set a precedent when negotiating with other retailers<\/strong>,\u201d Smith added.<\/p>\n","protected":false},"excerpt":{"rendered":"

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