Amazon Stops Accepting UK-Issued Visa Credit Cards

Amazon will stop accepting purchases made with Visa Inc. credit cards issued in the U.K. starting next year, the latest escalation by the online retailer in its push against transaction fees charged by payment networks.

Amazon users were told of the changes this week. After making purchases they received a notification from the company saying that from Jan. 19, 2022 “we will no longer accept Visa credit cards issued in the U.K.” due to the high fees charged to process transactions. Visa shares slumped 5.2% to $203.96 at 9:36 a.m. in New York. They’ve dropped 6.6% this year, compared with a 29% increase for the S&P 500 Information Technology Index.