Visa and Amazon.com have settled a dispute over payment fees, and the credit card will now be accepted across all of the e-commerce giant’s websites and stores.
“We’ve recently reached a global agreement with Visa that allows all customers to continue using their Visa credit cards in our stores. Amazon remains committed to offering customers a payment experience that is convenient and offers choice,” said Amazon AMZN, +1.02% in an emailed statement on Thursday.
Late last year. Amazon AMZN, +1.02% announced it would no longer accept Visa V, +0.44% credit cards issued in the U.K. starting in 2022, due to the “high cost of payments,” though Visa argued that its fees were competitive.
“Visa is pleased to have reached a broad, global agreement with Amazon. This agreement includes the acceptance of Visa at all Amazon stores and sites today, as well as a joint commitment to collaboration on new product and technology initiatives to ensure innovative payment experiences for our customers in the future,” said the credit-card provider.
Amazon will also stop charging Visa users extra fees in Singapore and Australia.
Some analysts at the time said the move was possibly a negotiating tactic by Amazon, and could even push some consumers toward Mastercard MA, +0.36% or American Express AXP, +0.20% AXP, +0.20%.
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