Amazon no longer accepting Visa credit cards from January 2022 - WTF?

[peanuts87]

AIBU to think this is madness? They're going to inconvenience so many of their customers. Still, it's good incentive to stop using Amazon I suppose!

www.reuters.com/business/retail-consumer/amazon-stop-accepting-visa-credit-cards-issued-uk-bloomberg-news-2021-11-17/

Dramallllama why are Amazon idiots for communicating directly with their customers on the same day as they issued a press release? I didn't get the email, presumably because the card registered with my account is a MasterCard.

I agree that the email looks like a scam.

Click here to update your card details.

What's the betting that there is a fake version doing the rounds by the end of the day?

This is going to cost them a lot of business. I bet they think Visa will be blackmailed into changing - but Amazon is a drop in the ocean to Visa.

I think it will impact visa more, their share price has already dropped.

I always use a debit card for online purchases, "chargeback" gives you the same protection as s.75, even if goods are not received.
My Santander card was changed to Mastercard recently with no problems. People are making a mountain out of nothing. Amazon don't want to pay Visa's higher fees, that's all.
If we had remained in the EU Visa would not have been able to raise the fees, so the fault, if any, lies with the UK.

According to Sky

"It claimed retail across Europe was shouldering an extra £150m annual increase in card fees - with some rising by almost 500%."

"It calculated a £36.5m burden in the UK alone and demanded action to bring fees down."

They are killing the local traders so I only use Amazon as a last restort.

One thing I don't understand. There seems to be a lot of hate towards Visa for being greedy post-brexit.

This is because Visa is raising credit card fees to 1.5% right?

But looks like MasterCard is also raising to 1.5%?
www.bbc.com/news/business-55796426

So why isn't Amazon doing it for MasterCard too?
Is their amazon credit card MasterCard? Have MasterCard already agreed to lower fees for Amazon?

Amazon are doing this out of greed surely? I think they only care that fees are lowered for them and no one else.

Have I got something wrong here?

I’m really glad I don’t work in a bank call centre. They are going to be inundated with calls today.

@WindyWindsor

One thing I don't understand. There seems to be a lot of hate towards Visa for being greedy post-brexit.

This is because Visa is raising credit card fees to 1.5% right?

But looks like MasterCard is also raising to 1.5%?
www.bbc.com/news/business-55796426

So why isn't Amazon doing it for MasterCard too?
Is their amazon credit card MasterCard? Have MasterCard already agreed to lower fees for Amazon?

Amazon are doing this out of greed surely? I think they only care that fees are lowered for them and no one else.

Have I got something wrong here?

Exactly.

Trust me, Amazon will be launching their own Credit Card or payment system before this kicks in.

Oh, how cynical I have become...

@Megan2018

They are just trying to force Visa to reduce fees. I bet it won’t happen, someone is going to cave in. But it will help me to stop buying crap at 1am if it does….

This. If I were a gambler I would go to the bookies and bet on VISA blinking first.

@WindyWindsor

One thing I don't understand. There seems to be a lot of hate towards Visa for being greedy post-brexit.

This is because Visa is raising credit card fees to 1.5% right?

But looks like MasterCard is also raising to 1.5%?
www.bbc.com/news/business-55796426

So why isn't Amazon doing it for MasterCard too?
Is their amazon credit card MasterCard? Have MasterCard already agreed to lower fees for Amazon?

Amazon are doing this out of greed surely? I think they only care that fees are lowered for them and no one else.

Have I got something wrong here?

I'm not sure that refusing to use a service after a price rise counts as "greed". Visa costs haven't increased. They just want to take advantage of Bexit to make more money but that doesn't mean customers or businesses should continue to use their service if they don't want to pay the extra.

Is MasterCard raising just a subset of charges ?

@GreenFingersWouldBeHandy

Trust me, Amazon will be launching their own Credit Card or payment system before this kicks in.

Oh, how cynical I have become...

But Amazon have had their own credit card for what seems like years haven't they, it always pops up every time I buy anything. You aren't cynical, just unknowing

I assumed it was scan as surely Amazon aren't that thick.
We'll just have to watch as much as we can before I cancel Prime. I would never use debit card details for on-line purchases.

I don’t think that ot will happen tbh, this news story is headline on several news sites, so visa are probably mitigating the bad publicity by trying to renegotiate.

Many banks are now using Visa MasterCard for current accounts. Visa need to rethink their business model

They have decided to stop using VISA. I have not.
My CC is linked to my current account and it's paid in full each month, so I simply benefit from S75 protection on all on and offline purchases.
The odd book or DVD I can buy elsewhere. It's probably a good thing in a way.
At least I won't be paying for Jeffs enormous space knob next time he launches it. 😂😂

Does anyone know how to get the £20 for changing payment card? The link in the email takes me to a page to update but no mention of £20 gift, nor on my homepage.

Amazon offers an affiliate Mastercard through which it will make money. So if this pushes more people into taking up their own affiliate Mastercard then they will make money on the sale of the goods and through the card itself. Imagine if a large % of people apply for Amazon’s card. Good increased income stream for them. Maybe take-up has been low so far so this is a win/win for them I guess.

@Spanielsarepainless

I'm sure our current MasterCard with M&S is swapping to Visa in the near future.

Oh bugger.

Yet they still accept American Express?!!

More to this than charges

“CounsellorTroi”

Yes oh bugger. That’s the Mastercard I currently have. I stopped using it as their website/app is rubbish. I switched to another bank’s Visa card instead.

@PussyCatEatingPigsInBlankets

They have decided to stop using VISA. I have not. My CC is linked to my current account and it's paid in full each month, so I simply benefit from S75 protection on all on and offline purchases. The odd book or DVD I can buy elsewhere. It's probably a good thing in a way. At least I won't be paying for Jeffs enormous space knob next time he launches it. 😂😂

Section 75 is only applicable if the purchase is over £100, for odd books and stuff it wouldn't make any odds. There are other potential benefits such as if the card is stopped you've more than likely got a debit type account to fall back on; but a lot I think ham up the benefits of a credit card over debit, which might push some people who really shouldn't have a credit card into getting one.

I think Visa will back down. They need Amazon more than Amazon need them.

I don't think that Visa's charges are any worse than Mastercard's - and certainly a lot less than American Express - so this is just a ruse to try to get people to take out Amazon's own Mastercard product.

It's pretty grubby really, the indirect result of this is that people will take out another credit card when they don't really need one, more people will end up in debt as a result of this decision. Not that that is Amazon's problem, as long as they get the money it doesn't really matter.

I've never had a Mastercard before, all my credit cards have always been Visa ones.

@janj2301

The original credit card in early 1970s was Barclaycard (Visa) , the other banks joined forces and formed Access, now Mastercard. I met ny husband when he was my shift leader at Access in 1972!!

Yes I remember the original Barclaycard was gold, white and blue striped.

And oh yes Access - “Your Flexible Friend”.