Amazon to stop accepting Visa Credit payments from January

[woodenhead]

Wow, this is a massive restriction on credit cards from Amazon, interesting the Amazon credit card is a Mastercard.

 

One behemoth up against another, who will tough it out, it's a big loss to Visa, does Amazon feel enough of it's customers have Mastercard credit cards in their pockets as well as Visa to mean no impact on their sales?

 

https://www.bbc.co.uk/news/business-59306200

[Mike Buckner]

Amazon are not the only company to refuse Visa on the grounds of excessive fees. Several retailers have done so, for example Walmart.

 

Probably Amazon  do expect to impact on their sales. There will be some saving to Amazon, as customers (like me) will switch from Visa but continue with Amazon - so Amazon pay less fees. No doubt, Amazon will offer a range of credit options.

[spikey]

Well at least we now know why Amazon is/was offering everybody £40 to have one of their Mastercard credit cards ...

[J. S. Bach]

Wouldn't bother me, I would just stop using Amazon.

[30801]

22 minutes ago, spikey said:

Well at least we now know why Amazon is/was offering everybody £40 to have one of their Mastercard credit cards ...

 

Plus they'll give you £20 when you swap your Visa credit card to something else if that's what your payment method currently is.

[Zomboid]

My bank have just switched from visa credit and debit cards to MasterCard. I'm imagining there's a link there.

 

Strange that they take Amex, that always used to be the "to expensive so we don't take it" card.

[30801]

12 minutes ago, 30801 said:

 

Plus they'll give you £20 when you swap your Visa credit card to something else if that's what your payment method currently is.

 

Actually £20 for adding a different card. Even if you leave your Visa credit as the default one.

[AndrewC]

In related news. NatWest changed over all their credit cards from Visa to MC last year. Now they are dumping Visa for their debit cards as well. There were a few shops in the Netherlands last month that wouldn't take Visa as well. I have a feeling this is likely to force them to climb down on their fees somewhat. 

[Roger Sunderland]

55 minutes ago, J. S. Bach said:

Wouldn't bother me, I would just stop using Amazon.

I’d just stop using Visa , their fees are greedy and excessive.

[97406]

That’s interesting as my debit card will be changing to Debit Mastercard as of next January.

[TheQ]

IIRC Barclays were visa  went to Mastercard for a while, then switched back to visa..

 

No visa No Amazon, because I'm not getting another credit card just for them..  (unless Barclays change again.)

[Torper]

It's not quite so dramatic as it seems as they'll still be accepting Visa Debit cards so you'll be fine if that's what you use.  Not that that'll affect me as like others my bank (RBS) is switching from Visa Debit to Mastercard debit and I anticipate receiving my new card in the next few weeks.

 

DT

Edited November 17, 2021 by Torper

[EddieB]

“Greed is good”?

 

(Should I get out the 1980s braces?)

[rab]

2 hours ago, Zomboid said:

My bank have just switched from visa credit and debit cards to MasterCard. I'm imagining there's a link there.

 

Strange that they take Amex, that always used to be the "to expensive so we don't take it" card.

The company I worked for did a deal with Amex which meant that

all business trip expenses had to be paid using company Amex cards.

It wasn't long before the complaints started flooding in

about hotels and restaurants not accepting Amex.

Edited November 17, 2021 by rab

[Wheatley]

14 minutes ago, rab said:

The company I worked for did a deal with Amex which meant that

all business trip expenses had to be paid using company Amex cards.

It wasn't long before the complaints started flooding in

about hotels and restaurants not accepting Amex.

Regional Railways did something in the 1990s with Overdrive (?) fuel cards, they were accepted almost* everywhere but were swapped almost overnight for Esso cards. At the time there were not a lot of Esso garages in the wilds of Cumbria. 

"The van is in Penrith station car park. If you want me you'll need to send a taxi."

 

*Except Pinkneys in Appleby. But then she didn't take cash in denominations greater that £10 either. 

[spamcan61]

Of course, if the world and his wife swap their business from Visa to Mastercard, that gives the latter an incentive to up their fees due to reduced competition. just sayin' 

Edited November 17, 2021 by spamcan61

[admiles]

Easy decision then. No more Amazon.

 

My bank First Direct have just switched their debit cards from VISA to Mastercard. After years of having not a single problem with a bank card (VISA) my partner and I have now had a continuous stream of problems with cards not working or being accepted by machines. 

 

Every time there's been an issue I've ended up using my VISA creditcard to pay instead but that's frankly a pain in the 'arris having to transfer money about afterwards.  Previously superb, First Direct show no signs of sorting the problems so sadly it's now goodbye First Direct after 25 years.

 

[AndrewC]

43 minutes ago, rab said:

The company I worked for did a deal with Amex which meant that

all business trip expenses had to be paid using company Amex cards.

It wasn't long before the complaints started flooding in

about hotels and restaurants not accepting Amex.

Not sure if it is still the case but once upon a time if you purchased something with Amex the seller didn't get reimbursed until you paid the card statement. One of the main reasons so many smaller businesses don't touch it. My previous employer went from Barclay's Visa to Amex for our expenses card last year and promptly got a major roasting for it, as over half the hotels and restaurants on their preferred supplier list wouldn't accept it. 

[Zomboid]

46 minutes ago, spamcan61 said:

Of course, if the world and his wife swap their business from Visa to Mastercard, that gives the latter an incentive to up their fees die to reduced competition. just sayin' 

Or for Visa to reduce theirs to reclaim their lost market share.

[Butler Henderson]

4 minutes ago, Zomboid said:

Or for Visa to reduce theirs to reclaim their lost market share.

Precisely, announcement by Amazon could have been made closer to the date so it could be a negiotiating swipe

[Jonboy]

1 hour ago, rab said:

The company I worked for did a deal with Amex which meant that

all business trip expenses had to be paid using company Amex cards.

It wasn't long before the complaints started flooding in

about hotels and restaurants not accepting Amex.

We used to accept Amex at work, but they insisted on a separate merchant account that used to take 5-6 days to pay rather than 1-2 for a visa/mc merchant account.

We then found that if customers chose not to give you their card for some many months they close said merchant account without notice, but your payment terminal will still accept the payments and they take the money from your customers bank account….

[njee20]

I find Amex is pretty widely accepted now. Starbucks are the merchant who I’m always caught off guard by, as they don’t. Agree it’s surprising to drop Visa but not Amex. Suits me, Amex is my first choice!

[w124bob]

I wonder if this is the same reason RBS/NatWest are moving to Mastercard for their debit cards, not an Amazon user so doesn't affect me.

[Siberian Snooper]

Lloyd's moved to Mastercard years ago and the Post Office, foreign currency card is Mastercard, which gave me some problems when I went to Canada as none of the machines that I tried to use would accept it, I nearly ran out of cash. A bank in Vancouver came to my rescue, but I had to return to the hotel and get my passport and some other ID, before they did though, fortunately not to much bother due to getting a travel card.

 

 

[Danemouth]

37 minutes ago, w124bob said:

I wonder if this is the same reason RBS/NatWest are moving to Mastercard for their debit cards, not an Amazon user so doesn't affect me.

Amazon  will stop taking Visa Credit Cards but will still take Visa Debit Cards.

 

Dave