MILLIONS of shoppers will no longer be able to shop online from Amazon with their Visa credit cards as of next week.
Shopping giant announced last year that it plans to block payments from early 2022.
Shoppers can still use Visa debit and credit cards due to other payment companies, like Mastercard or Amex.
Anyone currently using a Visa credit card when shopping online with Amazon will have to add a new payment method.
If you do not update your payment information, you may find Main member paused or cancelled.
You can change your details on the “manage your subscriptions” page in your Amazon account.
Some customers are even offered £20 credits to convert to a new card.
The ban will not affect Visa debit card use and customers are free to continue using their debit card as a payment option.
Amazon said it made the change because of the high transaction fees it had to pay Visa.
Visa increased the conversion fee for online credit card payments to 1.5% last year, a fivefold increase from 0.3% previously.
In a statement released in November, Amazon said: “Due to Visa’s continued high payment costs, we regret that Amazon.co.uk will no longer accept Visa credit cards issued by the UK. effective January 19, 2022.”
Amazon says that fees “will decrease over time with technological advancements, but instead, they continue to stay high or even increase.”
Visa said the decision would limit consumer choice. In a previous statement it said: “When consumer choice is limited, no one wins.
“We have a long relationship with Amazon and we continue to work towards a solution, so our cardholders can use their preferred Visa credit card at Amazon UK without there are restrictions imposed by Amazon as of January 2022.”
Visa cards have been phased out by major banks including Santander and First Direct, with customers sent new Mastercards to replace them.
This early year Paypal has introduced new fees for EU orders.
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https://www.thesun.co.uk/money/17288342/millions-visa-credit-cards-stop-working-amazon-next-week/ Millions of Visa credit cards stop working on Amazon next week