The action taken by Amazon happened due to the high commission rates applicable to merchants for the use of Visa credit cards. The measure does not apply to other products of the company or other broadcasters of these products.
The international company for the sale of products and services through the Internet, Amazon, revealed today that as of January next year, customers who use credit cards issued by Visa will not be able to make purchases through their online platform in the UK.
Amazon will not Receive Visa Credit Card Payments in the UK
This information appeared in a statement made by the company, where it indicated that the measure would get effective as of January 19, 2022. Amazon clarifies that they applied the policy due to the high exchange rates charged by entities banks to merchants for each transaction, which increased in the United Kingdom after it departed from the European Union due to Brexit.
The collection rates for merchants for using Visa cards remain at 0.3%, according to the laws in force in the European Union. Since the United Kingdom appears as an independent nation, these now amount to 1.5 % for merchants operating locally.
It is worth noting that this measure also applies to other card operating companies such as Mastercard, which experienced a similar increase.
Visa’s Response
Faced with the decision made by Amazon, a Visa spokesperson commented in an interview for the BBC News network that UK shoppers can use their Visa credit and debit cards at Amazon UK during the entire holiday season. However, Visa is disappointed on Amazon threatening to restrict consumer choices in the future.
The spokesperson also added that this measure ends up playing against consumers precisely because it shortens their options to make purchases through the platform. However, he assures that Visa will be talking with the directors in the company to achieve some solution to avoid these new restrictions.
What about Payments with Cryptocurrencies?
Even though the move has been the subject of criticism on social networks, people who make life in the ecosystem of digital currencies wonder if this situation will represent an opportunity for cryptocurrencies shortly within Amazon.
Amazon does not accept cryptocurrencies natively as a means of payment for the products offered through its platform. However, developers and enthusiasts created various solutions to support those interested in using their digital currencies within the service, such as extensions for web browsers, gift cards, and other mechanisms.
In the middle of this year, Amazon found it necessary to deny various rumors that the platform had accepted Bitcoin as a means of payment for the products and services advertised there. It is worth noting that this clarification did not harm the price of the digital currency, which at that time oscillated around USD 37,000 per unit.
By: Jenson Nuñez
