The two companies are now in talks over an amicable solution to the spat which Amazon said was provoked by Visa’s high transaction fees.
For shoppers, it means credit card payments won’t be disrupted. A ban would have impacted millions of people who use Visa credit cards, including those issued by other providers such as Barclaycard. They can continue to use their existing cards, although a final deal has not yet been reached and Amazon could still press ahead with a ban in future.
Amazon did not give a reason for its decision but experts speculated that it is likely Visa has offered to reduce the amount it charges for processing payments.
This story is from the January 18, 2022 edition of The Independent.
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This story is from the January 18, 2022 edition of The Independent.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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