Asian Stocks Rally as Nvidia Earnings Boost Tech Shares, Samsung Jumps on Wage Deal 
Takeda Hit With $885M Verdict Over Amitiza Generic Drug Delay Scheme 
Rubio to Push NATO Defense Spending, Strengthen India Ties During Key Diplomatic Tour 
Lam Research Expands AI-Powered Semiconductor Tools and Arizona Operations 
SpaceX Eyes AI Computing Expansion Ahead of Historic IPO 
Nvidia Beats Earnings Expectations as AI Demand Drives Record Growth 
Intuit Raises Full-Year Forecast After Strong Q3 Earnings Despite Stock Drop 
Oil Prices Climb as Trump Warns of Possible U.S. Strike on Iran 
Google Expands AI Partnership With Singapore Government 
NHS shakeup: if it sounds like we’ve been here before, it’s because we have 
OpenAI Eyes IPO Filing as Early as This Week Amid Rising AI Competition 
JPMorgan Sees Large-Cap Biotech Stocks Entering New Growth Phase in 2026 
Asian Currencies Stay Rangebound as Dollar Holds Near Six-Week High Amid Iran War Concerns 
Dollar Eases as US-Iran Peace Deal Report Impacts Forex and Bond Markets 
Samsung Shares Surge After Strike Deal Eases Labor Tensions 
Analog Devices Nears $1.5B Acquisition of AI Chip Firm Empower Semiconductor 
Fed Signals Possible Rate Hikes if Inflation Remains High in 2026 
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.
