By: Economic & Finance Report
It looks like Amazon (AMZN), the top online ecommerce platform retailer; is in top discussions of discontinuing using Visa (V) as a merchant credit card processor. The disputes between both mega companies, has to do with the Amazon (AMZN) using Visa (V) in the United Kingdom.
Visa (V) stock prices dipped after Amazon (AMZN) indicated it would not be using Visa (V) for credit card processing in the UK, starting in January 2022. This is in relation to the charges that Visa (V) institutes toward customers and other business merchants; when processing transactions using Visa (V) credit cards. The increased surcharges by Visa (V) has caused friction with Amazon (AMZN), because Amazon (AMZN) was also forced to increase their surcharge fees; relative to the surcharges instituted by Visa (V). -SB
Image Source: Business Insider