Amazon has put off its plan to stop taking payments from Visa credit cards.
In Brief:
The ecommerce giant had said it would refuse credit card payments from Visa cards from 19 January.
It blamed the “high fees” charged by Visa to process credit card transactions.
However, it’s now reversed the decision just days before it was meant to be put into action.
What does this mean?
Amazon and Visa have recognised the huge impact this would have and are working on a “potential solution” to keep allowing customers to pay with Visa credit cards. Amazon says it might still go ahead with the plans to stop accepting Visa but will give “advance notice”.
