Amazon has reached an agreement with Visa to accept its credit cards across its network, ending a standoff between the two that threatened to disrupt e-commerce payments.
Read the full article on the Reuters website
NAM Implications:
- Looks like Amazon is treating this dispute with Visa as an experiment, applicable in other geographies.
- This is really about credit card and debit card transaction fees…
- …and the risk to them of alternative (cheaper) means of payment being available.
- (i.e. possibly a reason for recent increases of 10x the rates to allow for future concessions?)
- Whatever the reason/s, payment methods are becoming more competitive, an inevitable and overdue development…
- …and retailers are big enough to resist payment charge increases…
- …thereby forcing payment facilitators to compete on price.
- Key issue for consumers is to resist having the cost burden foisted on them.
