Amazon to stop accepting Visa credit cards from January 2022 – here’s all you need to know

Jenni_D

Me three  

I changed over to my Visa debit card last month and got the £20 account credit, then got that same email thins morning.

GaleSF63

GalacticaActual said:

I've received the email too:


-----------------------------------------------------------------------------------------------------------------------
Dear ##########

The expected change regarding the use of Visa credit cards on Amazon.co.uk will no longer take place on January 19. We are working closely with Visa on a potential solution that will enable customers to continue using their Visa credit cards on Amazon.co.uk. 

Should we make any changes related to Visa credit cards, we will give you advance notice. Until then, you can continue to use Visa credit cards, debit cards, Mastercard, American Express, and Eurocard as you do today.

Thank you for being an Amazon customer.

I wonder how many people really did expect it to happen. 

Jenni_D

GaleSF63 said:

GalacticaActual said:

I've received the email too:


-----------------------------------------------------------------------------------------------------------------------
Dear ##########

The expected change regarding the use of Visa credit cards on Amazon.co.uk will no longer take place on January 19. We are working closely with Visa on a potential solution that will enable customers to continue using their Visa credit cards on Amazon.co.uk. 

Should we make any changes related to Visa credit cards, we will give you advance notice. Until then, you can continue to use Visa credit cards, debit cards, Mastercard, American Express, and Eurocard as you do today.

Thank you for being an Amazon customer.

I wonder how many people really did expect it to happen. 

I was fully expecting them to change their minds - I always thought it was a case of brinkmanship with the intent of Amazon receiving more-favourable terms from Visa. I didn't think it would go so close to the wire though.  

MattMattMattUK

Jenni_D said:

GaleSF63 said:

GalacticaActual said:

I've received the email too:


-----------------------------------------------------------------------------------------------------------------------
Dear ##########

The expected change regarding the use of Visa credit cards on Amazon.co.uk will no longer take place on January 19. We are working closely with Visa on a potential solution that will enable customers to continue using their Visa credit cards on Amazon.co.uk. 

Should we make any changes related to Visa credit cards, we will give you advance notice. Until then, you can continue to use Visa credit cards, debit cards, Mastercard, American Express, and Eurocard as you do today.

Thank you for being an Amazon customer.

I wonder how many people really did expect it to happen. 

I was fully expecting them to change their minds - I always thought it was a case of brinkmanship with the intent of Amazon receiving more-favourable terms from Visa. I didn't think it would go so close to the wire though.  

Having seen the difference in rates Visa charge vs Mastercard I expected it might actually happen, Mastercard charge 0.3%, Visa are currently charging 1.5%, on that basis I can see why Amazon are getting a little annoyed with them. 

SiliconChip

MattMattMattUK said:

Jenni_D said:

GaleSF63 said:

GalacticaActual said:

I've received the email too:


-----------------------------------------------------------------------------------------------------------------------
Dear ##########

The expected change regarding the use of Visa credit cards on Amazon.co.uk will no longer take place on January 19. We are working closely with Visa on a potential solution that will enable customers to continue using their Visa credit cards on Amazon.co.uk. 

Should we make any changes related to Visa credit cards, we will give you advance notice. Until then, you can continue to use Visa credit cards, debit cards, Mastercard, American Express, and Eurocard as you do today.

Thank you for being an Amazon customer.

I wonder how many people really did expect it to happen. 

I was fully expecting them to change their minds - I always thought it was a case of brinkmanship with the intent of Amazon receiving more-favourable terms from Visa. I didn't think it would go so close to the wire though.  

Having seen the difference in rates Visa charge vs Mastercard I expected it might actually happen, Mastercard charge 0.3%, Visa are currently charging 1.5%, on that basis I can see why Amazon are getting a little annoyed with them. 

Unless you're Jeff Bezos' best pal and he tells you everything that's just guesswork, and not very good guesswork according to this:

"Amazon has previously declined to say how much Visa charges the retailer to process transactions made on credit cards.

Visa also declined to comment, though it claimed that on average it takes less than 0.1% of the value of a purchase."

https://www.bbc.co.uk/news/business-60022166

Dandytf

I cancelled Prime, let's hope Amazon don't auto renew this from their Visa update.

mcpitman

Ah well, I'll swap my card back to Visa in a few months (Mastercard has no to little cashback, Visa has some cashback).

Got myself some free stuff from the voucher thing for changing your card. No harm no foul.

It was clear from the start Amazon would not go through with this, they just wouldn't trade as well and globally that's a big impact.

born_again

Jenni_D said:

GaleSF63 said:

GalacticaActual said:

I've received the email too:


-----------------------------------------------------------------------------------------------------------------------
Dear ##########

The expected change regarding the use of Visa credit cards on Amazon.co.uk will no longer take place on January 19. We are working closely with Visa on a potential solution that will enable customers to continue using their Visa credit cards on Amazon.co.uk. 

Should we make any changes related to Visa credit cards, we will give you advance notice. Until then, you can continue to use Visa credit cards, debit cards, Mastercard, American Express, and Eurocard as you do today.

Thank you for being an Amazon customer.

I wonder how many people really did expect it to happen. 

I was fully expecting them to change their minds - I always thought it was a case of brinkmanship with the intent of Amazon receiving more-favourable terms from Visa. I didn't think it would go so close to the wire though.  

Visa backed down, or are still looking at what they can do.
As they are losing out to Mastercard hand over fist.
You only have to see the number of banks that have been bribed to switch to Mastercard Debit to see Visa are now running scared of loss of profits & a plunging share price.

Sterlingtimes

I ordered the Amazon New Day card a couple of months ago. Amazon set the New Day card as my default card. I immediately switched it back to Barclaycard Visa that pays 0.5% back in cash on each purchase. Presumably, now the New Day card will remain dormant forever. I would imagine that thousands of New Day cards have been ordered which will never be used.

lr1277

born_again said:

Jenni_D said:

GaleSF63 said:

GalacticaActual said:

I've received the email too:


-----------------------------------------------------------------------------------------------------------------------
Dear ##########

The expected change regarding the use of Visa credit cards on Amazon.co.uk will no longer take place on January 19. We are working closely with Visa on a potential solution that will enable customers to continue using their Visa credit cards on Amazon.co.uk. 

Should we make any changes related to Visa credit cards, we will give you advance notice. Until then, you can continue to use Visa credit cards, debit cards, Mastercard, American Express, and Eurocard as you do today.

Thank you for being an Amazon customer.

I wonder how many people really did expect it to happen. 

I was fully expecting them to change their minds - I always thought it was a case of brinkmanship with the intent of Amazon receiving more-favourable terms from Visa. I didn't think it would go so close to the wire though.  

Visa backed down, or are still looking at what they can do.
As they are losing out to Mastercard hand over fist.
You only have to see the number of banks that have been bribed to switch to Mastercard Debit to see Visa are now running scared of loss of profits & a plunging share price.

Sorry to go off at a tangent, but I am not sure that is entirely correct. Yes many financial institutions in the uk have switched from Visa to MasterCard.
However if you look at the share price over the last 5 years, at the moment it is experiencing a blip.
Also on YouTube, there is a video called “American Express - why they’re successful”. I assume this is produced by Amex so maybe biased. It says in terms of money spent on Amex, Visa and Mastercard, the most money is spent in the order I have just given. So Visa losing to MasterCard is possible, it might also be a stretch.