Amazon has abandoned its plan to stop accepting UK Visa payments, returning instead to the table to reach agreement on fees. Amazon had said last year that Visa fees were an obstacle to providing customers with the best prices which was met with a retort from Visa that Amazon was restricting customer choice.
Both Visa and Mastercard had raised the interchange fee on cross-border transactions between businesses in the UK and the EU as the EU enforced cap on fees charged by card issuers no longer applies in the UK post-Brexit.
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