Amazon’s decision to block all payments from Visa cards issued in the UK marks a “a turning point in the modern economy,” according to GoCardless director of product marketing Siamac Rezaiezadeh.
Rezaiezadeh has described the move as the “moment retailers decided they’ve had enough of being stung by the high fees charged by the card industry, simply for the privilege of collecting a payment.”
UK consumers will still be able to use their Visa cards to checkout on the ecommerce giant’s site until January 19 2022.
The surprising news that Amazon was stopping accepting Visa credit cards from purchases conducted in the UK could prompt other retailers to follow suit, Rezaiezadeh believes.
