The gap between e-commerce giant Amazon and Visa is widening with credit card fees and co-branded credit cards. However, Visa’s chief financial officer expects Visa to reach an agreement with Amazon soon. News Reuters.
Last Wednesday, Amazon announced that it would no longer accept Visa credit card payments in the UK from mid-January next year. Amazon then announced plans to discontinue co-branded credit cards from the United States.
The payment processing company has been in turmoil since Amazon’s announcement. Visanta Prabhu, chief economic officer of Visa, said, “We have resolved such issues in the past and I believe they will be resolved in the future as well.” We anticipate that the new statement will be an announcement that will not hurt UK consumers in any way.
Earlier, Amazon had said that credit card charges should be gradually reduced as technology advances, but they continue to charge higher and even increase charges.
