Denmark Central Bank Intervenes to Support Krone Peg Against Euro 
Kuaishou Stock Jumps as Kling AI Secures $2 Billion Funding Round 
Wall Street Ends Mixed as Weak Jobs Data Lowers Fed Rate Hike Bets, Chip Stocks Tumble 
Norway Offshore Oil Workers Reach Wage Deal, Averting Strike 
Apple Eyes Chinese Memory Chips as AI Shortage Pressures iPhone Supply Chain 
Samsung to Invest $90 Billion in South Korea to Expand AI Chip, Display, and Battery Production 
Suncorp Cuts 2026 Premium Growth Forecast as Australia, New Zealand Markets Weaken 
Japan Signals Surprise Yen Intervention Strategy as BOJ Hawkish Stance Puts FX Traders on Alert 
Kawasaki Heavy Shares Slide on Report of ¥200 Billion Capital Raise Plan 
EU Chip Industry Faces Growing Risks From China Export Controls and U.S. Technology Dependence: Report 
Turkey Vehicle Sales Fall 11.4% in June as Auto Market Weakens 
OpenAI Proposes 5% U.S. Government Stake Amid AI Policy Talks 
Asian Currencies Stay Under Pressure as Dollar Holds Near 13-Month High Ahead of U.S. Jobs Report 
India Manufacturing PMI Slows in June as Demand Weakens Despite Lower Cost Pressures 
Trump Administration Declines USMCA Renewal, Opens Talks on New Trade Changes 
Super Micro Employees Detained in Taiwan AI Server Export Investigation 
SoftBank’s LY Corp, Bain Raise Kakaku.com Bid to ¥670 Billion, Intensifying Takeover Battle 
Amazon Inc. may cut Visa and discontinue using it as its credit card partner in the United States. The e-commerce company was said to be mulling on dropping the credit card brand after confirming it will stop accepting Visa credit cards that were issued in the United Kingdom.
According to Reuters, Amazon decided to stop honoring Visa cards in the U.K. due to an escalating dispute over issues on payments. The spokesperson of the company said that they are in talks with some payment companies such as Mastercard Inc., American Express Co., and Visa for the "standard process" of reviewing co-branded credit card agreements.
Prior to cutting UK-issued Visa credit cards, Amazon served surcharges to customers who were using Visa credit cards in Singapore and Australia. The company said the move was due to high fees, and this development has worsened the relationship between Amazon and Visa.
Last month, Visa started charging 1.5 percent for online credit card payment transactions in the U.K. and EU. It also charges 1.15 percent for debit card transactions, and the increases were said to be from 0.3% and 0.2%, respectively.
On top of these, there is also credit card processing fees ranging from 1.5 percent to 3.5 percent of every transaction, and usually, retailers accept these charges from major credit card firms. But apparently, Amazon finds the charges too high today, so it has stopped honoring UK-issued Visa credit cards, and based on the new reports, it may also drop Visa in the U.S.
"We are disappointed that Amazon is threatening to restrict consumer choice," Visa said in a statement. "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."
It should be noted that customers can still use Visa debit cards on their Amazon transactions. Mastercard, Amex, and Eurocard in the U.K. will still be accepted as well.
Meanwhile, it was on Wednesday, Nov. 17, when it was revealed Amazon will no longer accept payments using UK-issued Visa credit cards starting January 19, 2022. The retail giant cited high fees as the reason for its decision, as per CNBC.
