Amazon May Drop Visa As Partner On US Credit Card After UK Move
NDTV
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.
Amazon.com Inc is considering dropping Visa as partner on its US 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, American Express Co 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."
