Amazon may drop Visa Card as partner on US credit card after UK move

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abhishek012

Amazon may drop Visa Card as partner on US credit card after UK move:

The e-commerce giant is in talks with several payment networks, including Mastercard Inc., American Express Co, and Visa, as part of its standard process for reviewing its co-branded credit card agreement.

Amazon is considering dropping Visa (V.N) as partner on its U.S. co-branded credit card after earlier confirming it would stop accepting Visa credit cards in the United Kingdom as a dispute over payments intensified.

The e-commerce giant is in talks with several payment networks including Mastercard Inc (MA.N), American Express Co (AXP.N) and Visa as part of what it called its standard process for reviewing its co-branded credit card agreement, a spokesperson said.

Visa declined to comment on the co-branded card. Mastercard and American Express did not respond to requests for comment.
Earlier, shares of Visa closed 4.7% lower after Amazon said it would stop taking payments from Visa credit cards in the UK from Jan. 19, 2022. In a statement, it said such charges should be “going down over time with technological advancements, but instead they continue to stay high or even rise.”

In recent months, Amazon has introduced surcharges on customers using Visa credit cards in Singapore and Australia, citing high fees, as the relationship between the two firms deteriorated.

Since Britain’s exit from the European Union, an EU-enforced cap on fees charged by card issuers is no longer in place in the UK, meaning providers are free to hike charges.

Visa last month began charging 1.5% of the transaction value for credit card payments made online or over the phone between the UK and EU, and 1.15% for debit card transactions.

The average credit card processing fees across the industry range between 1.5% and 3.5% of each transaction, according to analysts.

Historically, retailers had accepted processing charges by major credit card firms as the cost of access to their huge network of card users, analysts said, but that could be changing.

The move marks an “important turning point in the payments industry,” said Laura Hoy, equity analyst at Hargreaves Lansdown, adding Amazon may hope to drive more customers to its own payments system.

“Ultimately, we think Amazon has the edge in this game of chicken – whether customers adopt its own payment system or Visa gives in and lowers its fees, either is a win for the retail giant,” Laura Hoy said.

In the past, other big retailers have settled fee disputes with Visa after announcing they were going to quit taking Visa credit cards in narrow segments of their businesses.

Walmart Inc’s (WMT.N) unit in Canada, for example, said in 2016 it would stop accepting Visa credit cards after being unable to reach an agreement on fees. Seven months later the companies said they had settled the matter after about 20 stores stopped taking Visa cards.

Amazon customers can still use Visa debit cards, Mastercard and Amex credit cards, and Eurocard, in the UK, Amazon said in a note to customers. Visa said in a statement it was “disappointed that Amazon is threatening to restrict consumer choice.”

“We continue to work toward a resolution, so our cardholders can use their preferred Visa credit cards at Amazon UK without Amazon-imposed restrictions come January 2022,” Visa added.

Shares of rival Mastercard dropped 2.8% on Wednesday. Amazon shares rose 0.2%. American Express shares closed 0.7% lower.

The British Retail Consortium said other retailers in the United Kingdom faced higher charges for cross-border payments, following Britain’s departure from the European Union.

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Post loots here.. wat is dis shit copy paste.. u r copying news and posting here

Deal Captain Deal Captain
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poorguyiam wrote:

Post loots here.. wat is dis shit copy paste.. u r copying news and posting here

What’s the problem? He’s posted in Finance Section, and not under any Deals section. So, it’s at the right place.

It’s only because of you using the L**TS, that the trigger for that word buzzed.

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UniqueDimer wrote:

What’s the problem? He’s posted in Finance Section, and not under any Deals section. So, it’s at the right place.

It’s only because of you using the L**TS, that the trigger for that word buzzed.

@abhishek012 bro, learn to use correct reactions. You’re doing the same as OneMiller, except he used to give laugh reaction for almost all the comments, and you’re giving shock reactions.

BTW, my comment was in support of you & your post, not against you or your post.

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UniqueDimer wrote:

@abhishek012 bro, learn to use correct reactions. You’re doing the same as OneMiller, except he used to give laugh reaction for almost all the comments, and you’re giving shock reactions.

BTW, my comment was in support of you & your post, not against you or your post.

I don’t care whether you support me or against me. smile

Those who hate me or against me. I don’t have any problems with them,

but those who support me or some people told me i m your big fan or you are gems blah blah blah and lots of thing.

Do you know that these people are more dangerous than those who hate me ? grinning

First of all, I feel sorry for those who supported me or told me that I am your fan etc

because i am sorry, if you are my fan it means you dnt have real life good friends or i am sorry that you wasted your precious time to fight with someone on my behalf. smile

Now why did I say this, People who support me. Why are these people more dangerous than those who hate me or are against me ?

Well, some people support me because of my RuPay/UPI promotion or my nationalism.

Now what will happen if I stop supporting nationalism or stop promoting RuPay/UPI ? or What if I support something that you don’t like ?

You know what its already happen

I tell you some stories -

One guy (i won’t name him) he was supporting me and praise me because of my RuPay/UPI promotion then suddenly one day he applied for ICICI add-on RuPay cards and by mistake ICICI executive replace his primary ICICI RuPay card and issue him 2 new visa cards that day he got mad at me and he told me many things. smile

And it doesn’t end there, after a few months he cut all his RuPay physical cards into small pieces and sent me to whatsapp groups.

Now a days when i say something in hindi language in whatsapp group he answered me in his native language smile (i am not against his native language but why now, why not earlier?).

So, you will understand i dnt care, if anyone support me or not.

Now coming to the next story, actually i have lots of stories. How much will i share. smile

2nd story,

One guy (ofcourse i won’t name him) he was also my big fan.

One day i say something against our enemy country but he didn’t like it because of some religious thing. In fact, I didn’t say anything against any religion. I have only made fun of our enemy country, not any religion. He just did not like to make fun of our enemy country.

After that a lot of things happened, i don’t want to say. smile

3rd story,

6 years ago. I suggest someone to use RuPay Platinum debit card and get 5% upto 50 cashback on utility bill pay. He used his card on paytm wallet and pay his electricity bill via paytm and you know 5% upto 50 cashback on utility bill pay valid only on some specific categories MCC code to indentify card used only on utility bill pay website.

So he didn’t get cashback. After so many years, he still crying for his cashback and every few month start blaming NPCI or RuPay in twitter and all social media channels. recently, 12 days ago he upload a youtube video and blame NPCI is a scam and that’s not all. He suggest everyone to use Visa card in twitter. He tag RuPay official twitter handle and proudly said i m visa card user.

He speak like, he is doing a great job for our country. smile

The way I do my best to promote RuPay/UPI everywhere. Similarly he works hard to defame RuPay card and promote Visa card. And he is doing all this because 6 years ago he did not get Rs 50 cashback. smile

oh by the way he software engineer, data scientist etc but he still didn’t understand all card offers valid only on some specific categories MCC code.

I can tell you more stories like this but i think you will understand, if anyone support me and if I support something that you don’t like then he/she just won’t be against me, he/she will be against the whole country or RuPay/UPI.

So, people who support me. These people are more dangerous than those who hate me or against me. sunglasses

Deal Captain Deal Captain
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abhishek012 wrote:

I don’t care whether you support me or against me. smile

Those who hate me or against me. I don’t have any problems with them,

but those who support me or some people told me i m your big fan or you are gems blah blah blah and lots of thing.

Do you know that these people are more dangerous than those who hate me ? grinning

First of all, I feel sorry for those who supported me or told me that I am your fan etc

because i am sorry, if you are my fan it means you dnt have real life good friends or i am sorry that you wasted your precious time to fight with someone on my behalf. smile

Now why did I say this, People who support me. Why are these people more dangerous than those who hate me or are against me ?

Well, some people support me because of my RuPay/UPI promotion or my nationalism.

Now what will happen if I stop supporting nationalism or stop promoting RuPay/UPI ? or What if I support something that you don’t like ?

You know what its already happen

I tell you some stories -

One guy (i won’t name him) he was supporting me and praise me because of my RuPay/UPI promotion then suddenly one day he applied for ICICI add-on RuPay cards and by mistake ICICI executive replace his primary ICICI RuPay card and issue him 2 new visa cards that day he got mad at me and he told me many things. smile

And it doesn’t end there, after a few months he cut all his RuPay physical cards into small pieces and sent me to whatsapp groups.

Now a days when i say something in hindi language in whatsapp group he answered me in his native language smile (i am not against his native language but why now, why not earlier?).

So, you will understand i dnt care, if anyone support me or not.

Now coming to the next story, actually i have lots of stories. How much will i share. smile

2nd story,

One guy (ofcourse i won’t name him) he was also my big fan.

One day i say something against our enemy country but he didn’t like it because of some religious thing. In fact, I didn’t say anything against any religion. I have only made fun of our enemy country, not any religion. He just did not like to make fun of our enemy country.

After that a lot of things happened, i don’t want to say. smile

3rd story,

6 years ago. I suggest someone to use RuPay Platinum debit card and get 5% upto 50 cashback on utility bill pay. He used his card on paytm wallet and pay his electricity bill via paytm and you know 5% upto 50 cashback on utility bill pay valid only on some specific categories MCC code to indentify card used only on utility bill pay website.

So he didn’t get cashback. After so many years, he still crying for his cashback and every few month start blaming NPCI or RuPay in twitter and all social media channels. recently, 12 days ago he upload a youtube video and blame NPCI is a scam and that’s not all. He suggest everyone to use Visa card in twitter. He tag RuPay official twitter handle and proudly said i m visa card user.

He speak like, he is doing a great job for our country. smile

The way I do my best to promote RuPay/UPI everywhere. Similarly he works hard to defame RuPay card and promote Visa card. And he is doing all this because 6 years ago he did not get Rs 50 cashback. smile

oh by the way he software engineer, data scientist etc but he still didn’t understand all card offers valid only on some specific categories MCC code.

I can tell you more stories like this but i think you will understand, if anyone support me and if I support something that you don’t like then he/she just won’t be against me, he/she will be against the whole country or RuPay/UPI.

So, people who support me. These people are more dangerous than those who hate me or against me. sunglasses

Calm down, bro, calm down. Drink a glass of water and relax. Be cool.

Now, coming to the topic, I’m neither your Fan nor anyone else’s here. Check my profile. Infact, I don’t even want people to become my fan too for whatever reason they’re amazed with me or not.

Next, I know that you’re a fan of and promoting NPCI-related Platforms, for whatever reason you like, either for nationalism or any other purpose. Infact, you’ve gathered and learnt a lot about the same. Still I haven’t become your fan. You know why? It’s because I don’t want any strings attached.

On the Support Part, I supported the OP @abhishek012 and, not @abhishek012 as the RuPay-Man. Why? Because the OP created a Finance-related news thread under Finance section of DD, and yet the other guy blurted wrong. Hence, the comment, which was more like making him understand that he was wrong, and less like you or your content was correct.

My next comment was about you reacting shockingly, but wrong. That’s true.

All I want to say is that I’m not a blind- follower/supporter/believer/hater/basher of any person/party/religion/organization/establishment/company. I’ve got my own brain, eyes & ears, which I best use optimally. I myself understand very well what’s right/wrong, correct/incorrect, good/bad, useful/useless. So do many others too.

Hence, I request you to come out of your whims & fancies. Don’t live in a FOOL’S PARADISE.
PEACE.

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UniqueDimer wrote:

Calm down, bro, calm down. Drink a glass of water and relax. Be cool.

Now, coming to the topic, I’m neither your Fan nor anyone else’s here. Check my profile. Infact, I don’t even want people to become my fan too for whatever reason they’re amazed with me or not.

Next, I know that you’re a fan of and promoting NPCI-related Platforms, for whatever reason you like, either for nationalism or any other purpose. Infact, you’ve gathered and learnt a lot about the same. Still I haven’t become your fan. You know why? It’s because I don’t want any strings attached.

On the Support Part, I supported the OP @abhishek012 and, not @abhishek012 as the RuPay-Man. Why? Because the OP created a Finance-related news thread under Finance section of DD, and yet the other guy blurted wrong. Hence, the comment, which was more like making him understand that he was wrong, and less like you or your content was correct.

My next comment was about you reacting shockingly, but wrong. That’s true.

All I want to say is that I’m not a blind- follower/supporter/believer/hater/basher of any person/party/religion/organization/establishment/company. I’ve got my own brain, eyes & ears, which I best use optimally. I myself understand very well what’s right/wrong, correct/incorrect, good/bad, useful/useless. So do many others too.

Hence, I request you to come out of your whims & fancies. Don’t live in a FOOL’S PARADISE.
PEACE.

I’m already cool. smile

The only thing I know is that it takes 250 to 300 years for any countries people to get mature and we just got independent 74 years ago. grinning

I told you all this because I had free time and i also dnt care if someone dnt like my finance related news under finance section too. smile

I don’t even care if anyone like or dislike my shocking reaction emoji to a comment section. smile

People live in a whims & fancies and i just laugh seeing all this. Thats It. smile

Missing