Amazon and Visa , Go Head-to-Head, Over Transaction Fees.<br />ABC reports that a growing dispute <br />between Amazon and Visa has <br />customers caught in the middle. .<br />In the latest development in the dispute over <br />transaction fees, Amazon announced that <br />effective next year, Visa cards issued in the U.K. <br />will no longer be accepted by the online retailer. .<br />In the latest development in the dispute over <br />transaction fees, Amazon announced that <br />effective next year, Visa cards issued in the U.K. <br />will no longer be accepted by the online retailer. .<br />Previously, Amazon started <br />charging a 0.5% fee for users <br />in Singapore and Australia paying with Visa. .<br />Previously, Amazon started <br />charging a 0.5% fee for users <br />in Singapore and Australia paying with Visa. .<br />Laura Hoy, equity analyst at Hargreaves Lansdown, <br />says that the showdown marks an <br />inflection point for the payment industry. .<br />Historically, Visa’s been able to charge whatever it sees fit because of its huge network of card users — not accepting Visa meant cutting out a huge pool of potential customers, Laura Hoy, Hargreaves Lansdown equity analyst, via ABC.<br />Historically, Visa’s been able to charge whatever it sees fit because of its huge network of card users — not accepting Visa meant cutting out a huge pool of potential customers, Laura Hoy, Hargreaves Lansdown equity analyst, via ABC.<br />More merchants accepting Visa meant more customer sign-ups, and the virtuous loop spun onward, Laura Hoy, Hargreaves Lansdown equity analyst, via ABC.<br />According to the Nilson Report, Visa <br />is the dominant payment network <br />in Europe, with 58% of the market. .<br />In the United States, Visa holds a similar <br />share of the market, about 50%. .<br />In the U.K., the British Retail Consortium <br />has warned that fee hikes add to the cost <br />that consumers must pay for goods and services. .<br />The group said that fees in the U.K. <br />doubled between 2014 and 2018. .<br />With retailers now spending over <br />1 billion pounds ($1.3 billion) to accept <br />card payments, it is no surprise <br />many retailers are frustrated <br />by these surging fees, Andrew Cregan, British Retail Consortium <br />payments policy adviser, via ABC
