Yen Weakens as Dollar Gains on Widening US-Japan Rate Gap 
Japan, U.S. Discuss $19 Billion GlobalFoundries Chip Plant 
SoftBank Launches $11 Billion Bond Sale to Fund OpenAI Investment 
Prysmian, Rio Tinto Supply Low-Carbon Cables for Amazon Ohio Data Center 
Trump Plans Federal AI Force and AI Czar 
FAA Allows Boeing to Sell 35 More 777F Freighters Beyond 2028 
Paramount-Warner Bros $110 Billion Deal Draws Antitrust Backlash 
CNN, MS NOW and Politico Sue Trump Over White House Media Ban 
Wall Street Mixed as Treasury Yields Rise After Fed Hike 
Apple Pay Set for India Launch With Axis Bank 
Asia Stocks Rise on AI Demand as Oil Eases 
fnny Beta Launches With a Simple Idea: Find an Event, Show Up, Get Rewarded 
Petrobras Joins Brazil’s New Diesel Subsidy Program 
LVMH-Hermès Dispute Deepens Over Secret 2002 Share Deal 
Mexico Pushes for US Trade Deal Before Midterms 
Supertanker Orders Surge as US-Iran War Reshapes Oil Trade 
Nike Earnings at Risk as UBS Cuts Price Target to $42 
Add as a preferred source on Google
Amazon previously announced that it would stop accepting Visa credit cards in the United Kingdom, and now this plan has changed. It was reported that the e-commerce giant is ditching its plans regarding its acceptance of the said credit card, at least for now.
Customers were already expecting Amazon to stop honoring their Visa-issued credit cards starting Jan. 19 since this was already revealed a few weeks ago. However, in a new statement that was issued earlier this week, the company said it would no longer proceed with its plans.
In a statement sent to CNBC via email, an Amazon spokesperson stated, “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. Amazon customers can continue to use Visa cards after Jan. 19 while we work to reach an agreement.”
It was in November when Amazon initially declared that due to high fees that Visa charges for credit card processing transactions, it decided to stop accepting the card for purchases. At that time, the credit card company said it was very disappointed with Amazon’s decision, as per Reuters.
Now, with the new announcement from Amazon, it is not clear what changed the company’s mind. It is also not clear if this new decision is temporary or final.
Observers in the industry said that the change of plans on the side of Amazon is actually not surprising because it will also be a disadvantage for the e-commerce firm since most people in the U.K. use Visa credit cards. Thus, if it will not be accepting this card, then it will also result in huge sale losses.
“Amazon is a retail giant so it has some leverage, but there is no way it won’t accept Visa cards,” David Ritter, a financial services strategist at IT firm CI&T, said in a statement regarding Amazon’s about-face. “It is more likely that Amazon has been applying pressure tactics. The move by Amazon is likely a way to negotiate a longer-term agreement on rates, or even to push for a freeze to its current rates.”
