Amazon has previously stated they will stop accepting Visa credit cards for payment as of January 19, 2022….which is quickly approaching.
So unless a last minute deal is struck, all of us in the UK with a Visa card who buys on Amazon, will be locked out….unless you have a MasterCard.
So how many people does this affect? A lot!
Estimates showed that over 80% of people in this country shop via Amazon, and that there were around 21 million people here with Amazon Prime accounts. All of which equates to around £1.4 billion spent here in the UK. That is £1.4 billion Amazon could possibly lose in revenue.
Many Amazon users could have MasterCards and switch over, but many may not have that option.
Why is Amazon in this power struggle with and against Visa? Money, fees charged to process Visa payments. Amazon wants lower fees, Visa likes them they way they are.
In the next few days, all will be revealed as to if a deal is made, or many of us no longer shop at Amazon.
Amazon has postponed the deadline to stop accepting Visa cards for payments, temporarily while both parties are in discussion as to how to move forward.
So good news for now, for us here in the UK. And more new to come as it breaks.