Amazon will stop accepting payments by UK VISA credit cards in 2022

bertie

digitalscream said:

Just looked it up, and the gulf between them actually surprised me.

Visa revenue: $20bn
Amazon revenue: $386bn

Visa's revenue is about 0.5% of Amazon's. Talk about being the little spoon...

would you credit it

drofluf

digitalscream said:

boogieman said:

crunchman said:

All of our cards are Visa.  I'm minded to stop buying stuff from Amazon.

Edit:  the government needs to step in on this.  There are basically only 2 card providers as it is.  This would essentially give Mastercard a monopoly.

Wis to your edit. 

The card companies are onto a loser trying to bully Amazon though, they have so much financial clout. 

Just looked it up, and the gulf between them actually surprised me.

Visa revenue: $20bn
Amazon revenue: $386bn

Visa's revenue is about 0.5% of Amazon's. Talk about being the little spoon...

Think you dropped athe decimal point, it's actually closer to 5% based on the respective revenues but your point is still vaild

TTony

It'd be quite funny if Mastercard announced that they were no longer going to support payments to Amazon ...

yocky

digitalscream said:

boogieman said:

crunchman said:

All of our cards are Visa.  I'm minded to stop buying stuff from Amazon.

Edit:  the government needs to step in on this.  There are basically only 2 card providers as it is.  This would essentially give Mastercard a monopoly.

Wis to your edit. 

The card companies are onto a loser trying to bully Amazon though, they have so much financial clout. 

Just looked it up, and the gulf between them actually surprised me.

Visa revenue: $20bn
Amazon revenue: $386bn

Visa's revenue is about 0.5% of Amazon's. Talk about being the little spoon...

Possibly apples and oranges, their net incomes are much closer. Amazon $20bn and Visa $10bn in 2020. Amazon about 4 times larger in market cap. Dunno how to convert that into units of financial clout.

Amazon are undoubtedly a more powerful player though. 

Blaendulais

Visa upped their rate after we left the EU as an EU law didnt apply.  If Amazon stayed with them they would simply pass the cost on to customers.  Simple economics.  Not Oh no Amazon are the bad guy.

digitalscream

drofluf said:

digitalscream said:

boogieman said:

crunchman said:

All of our cards are Visa.  I'm minded to stop buying stuff from Amazon.

Edit:  the government needs to step in on this.  There are basically only 2 card providers as it is.  This would essentially give Mastercard a monopoly.

Wis to your edit. 

The card companies are onto a loser trying to bully Amazon though, they have so much financial clout. 

Just looked it up, and the gulf between them actually surprised me.

Visa revenue: $20bn
Amazon revenue: $386bn

Visa's revenue is about 0.5% of Amazon's. Talk about being the little spoon...

Think you dropped athe decimal point, it's actually closer to 5% based on the respective revenues but your point is still vaild

You're quite correct, typo in my calculator and wasn't concentrating

Fretwired

Visa will cut its fees to Amazon. The evil monster that is Amazon bullies and crushes its way through the world buying tat from Far East sweatshops, treating its own UK employees badly, wrecking the high street and dodging tax. But hey they can deliver on the same day.

digitalscream

Fretwired said:

Visa will cut its fees to Amazon. The evil monster that is Amazon bullies and crushes its way through the world buying tat from Far East sweatshops, treating its own UK employees badly, wrecking the high street and dodging tax. But hey they can deliver on the same day.

Well...what do you do when you've got a big company who have a near-monopoly on something?

Summon bigger fish.

From one perspective...Amazon's that bigger fish, and Visa have been ripping into small companies' revenues for years.

I'm just not sure if there are any fish big enough to rein Amazon in.

rze99

I refuse to use Amazon, tempting as it might be.

Legionreturns

Whitecat said:

This is absolutely just brinksmanship, and with the news of it getting into the media it's playing straight into Amazon's gameplan. 100% guarantee they will find a "solution".

Boy, I don't know who I want to win, the soulless giant megacorp, or the other soulless giant megacorp!

Personally, of the two faceless megacorps, I'd like to see Visa tell Amazon to get fucked. 

Imagine being a huge online retailer that doesn't accept Visa Credit cards? Imagine losing a game of chicken on that scale? Imagine how many sales they'd lose. 

I refuse to use them personally, but I'd like to see them get a good dry butt fucking. 

more

Get an Amex card , they charge Amazon more than visa and they give you some  cash back.  

Strangefan

It's scary we are actually here. 

chillidoggy

Amazon? That’s a river, right?

scrumhalf

Visa will blink first, but they will look to make their money back somewhere else. Cue higher interest rates and fees. 

exocet

On larger purchases, Amazon offer interest free credit anyway? Can't see Visa UK having any leverage and they'll probably be leant on by their US Parent to rethink their new fees?

boogieman

more said:

Get an Amex card , they charge Amazon more than visa and they give you some  cash back.  

A lot of shops won’t take Amex because their retailer fees are so high. We had a credit card deal once where we got Amex and Visa cards linked to the same account. There was a reward system that got us points and the Amex points were double the Visa ones, but it was virtually impossible to use the Amex card in the U.K.  

Nitefly

boogieman said:

more said:

Get an Amex card , they charge Amazon more than visa and they give you some  cash back.  

A lot of shops won’t take Amex because their retailer fees are so high. We had a credit card deal once where we got Amex and Visa cards linked to the same account. There was a reward system that got us points and the Amex points were double the Visa ones, but it was virtually impossible to use the Amex card in the U.K.  

Yep, I had one of those.  I chucked the Amex card away in the end.  Eventually it quietly disappeared.

hollywoodrox

CaseOfAce said:

Someone's always playing corporation games
Who cares, they're always changing corporation names
We just want to dance here, someone stole the stage
They call us irresponsible, write us off the page

Marconi plays the mamba, listen to the radio, don't you remember?
We built this city, we built this city on rock and roll

This deserves a heart emoji 

munckee

chillidoggy said:

Amazon? That’s a river, right?

My autistic son was looking at a globe a few years ago when he suddenly got very animated and called me over. Her pointed to the Amazon river and said “see it is a place you can go to not just an internet  shop!”

WezV

munckee said:

chillidoggy said:

Amazon? That’s a river, right?

My autistic son was looking at a globe a few years ago when he suddenly got very animated and called me over. Her pointed to the Amazon river and said “see it is a place you can go to not just an internet  shop!”

Let him know they do have actual shops now.

It's an odd experience.  You scan your phone on the way in, fill your bag as you wander round... then walk straight out.   

Feels like shop lifting, until you see the bill on your amazon account