‘It’s best to use Amazon.’
Amazon.com and Visa Inc have signed an agreement that will see no additional charges imposed on transactions between the two companies.
In November last year, Amazon had decided to stop accepting Visa credit cards on its platform in the United Kingdom (UK) due to the issue of high transaction fees in payment processing.
It also found that its customers in Singapore and Australia were charged extra if they used a Visa credit card, further banning users of the credit card on its platform.
However, now Amazon and Visa have signed a cooperation agreement on the issue.
According to an Amazon spokesperson, it has reached a global agreement with Visa that will allow all customers to use the credit card at its stores.
Visa also issued a statement expressing its pleasure to collaborate on new technology products and initiatives to ensure an innovative payment experience for customers.
Meanwhile, when considering a ban on accepting credit cards in the UK, Amazon said that payment processing costs were a ‘barrier’ to providing the best price to customers.
The European Union limit on fees charged by card issuers is no longer implemented in the UK in the wake of Brexit, but the ban does not affect the use of Visa debit cards.
