Despite Amazon announcing it would ban UK Visa from its platform due to high transactional fees, it seems the retail behemoth had a recent change of heart.
According to the latest info, Visa and Amazon are currently working on a potential solution that will allow customers who use UK Visa credit cards to continue purchasing products on Amazon.
In other words, Brits will be able to use their Visa credit card (for now) even after January 19 — the initial ban date.
This isn’t the first time Visa and Amazon had a dispute. Namely, last year Amazon planned to introduce an additional charge of 0.5% on all Visa cards in Australia and Singapore.
As previously mentioned, the main reason behind the dispute was the high transactional fee imposed by Visa. So, the question on everyone’s mind right now: will Amazon ban UK Visa credit cards on its platform, or is this just a temporary issue?
Whatever the case, one thing is clear — if Visa and Amazon don’t come to a mutual agreement, millions of Brits who use UK Visa cards to purchase products on Amazon will be left out in the cold.
The change will also affect Amazon Prime members. There are around 200 million Amazon Prime members across the globe, and about 15 million of them are Brits!
Still, Prime members won’t be “unplugged” immediately. In fact, they’ll have 30 days to find a new eligible payment solution to maintain their membership.
In addition to that, according to the Consumer Credit Act (under section 75), if a credit card provider goes out of business, they have to provide a full refund on items that cost over £100 ($136.55).