Amazon to stop accepting UK Visa credit cards

Re:Amazon to stop accepting UK Visa credit cards by Reason077 on Wednesday November 17, 2021 @08:40AM (#29252812)

> "I cannot believe that Visa transaction overhead would be higher than Amex - there's something going on behind the scenes here."

Especially considering that card transaction fees (in the EU and UK) are capped by the Interchange Fee Regulation (IFR) [1]

But I suppose Amazon processes card payments in such huge volumes that they expect to get rates below the cap limits (0.2% for debit cards and 0.3% for credit cards), or Visa are applying excessive additional fees outside of the interchange fee?

[1] https://www.psr.org.uk/our-work/card-payments/the-ifr/

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Re:Amazon to stop accepting UK Visa credit cards by orra on Wednesday November 17, 2021 @08:47AM (#29252878)

The UK has hinted it wants to increase the cap, as a “Brexit dividend”.

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Re:Amazon to stop accepting UK Visa credit cards by PeterisP on Wednesday November 17, 2021 @09:25AM (#29253364)

Why would a larger cap benefit the UK or its government in any way? It's not like the "dividend" would be received by them, it's an effective +1% tax on all payments from consumers to the banks.

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Re:Amazon to stop accepting UK Visa credit cards by ookware on Wednesday November 17, 2021 @09:39AM (#29253572)

Because our government would appear to work more for the banks than the public

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