market.īritish lawmakers said last month they planned to scrutinise increases in the fees Visa and Mastercard charge businesses after the country's payments regulator found no evidence to justify the rises. The dispute between Amazon and Visa in the UK was seen as a bad sign for the card industry by some analysts, who argued it could presage a fight in the much bigger U.S. Neither side said what fees would be levied in future - an issue which came to the fore particularly in Britain after an EU-enforced cap on card fees is no longer in place following Brexit. The agreement announced on Thursday means Amazon customers can continue using Visa credit cards in its stores, the e-commerce group said in a statement. co-branded credit card, after earlier confirming it would stop accepting Visa credit cards in the UK because of high transaction fees. read moreĪmazon had said in November it was considering dropping Visa as partner on its U.S. The spat had highlighted the growing clout of retailers in the fee battle. Feb 17 (Reuters) - Inc has reached agreement with Visa Inc (V.N) to accept its credit cards across its network, ending a standoff between the two that threatened to disrupt e-commerce payments and deal a blow to the U.S.-based payments processor.ĭetails of the deal were not disclosed but Visa and other payments cards have faced increased pressure about their fees as more shoppers have turned online during the pandemic.
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