Amazon and Visa settle dispute

US online retailer Amazon has finally resolved a months-long dispute with Visa over the credit card giant’s fees.

The agreement means that Amazon customers in the UK will be able to continue using Visa credit cards. The US retailer will also cancel a 0.5% surcharge on Visa credit card transactions in Singapore and Australia, which it introduced in 2021.

Visa “was pleased to have reached a broad, global agreement with Amazon,” the company’s spokesman said, as quoted by the Wall Street Journal on Thursday. An Amazon spokesman reportedly said the retailer is committed to offering customers a convenient payment experience that offers choice.

In November, Amazon announced it would stop accepting Visa credit cards issued in the UK starting in January due to the card network’s high fees. However, in January, the e-commerce giant said it would allow customers to keep using their cards past that date while it negotiated a deal with Visa.
source: rt.com