@simplynoir wrote:I have no dog in this race but I find it hilarious that Visa is upset about a possible network change when they did this to AMEX when the Costco contract was up for grabs like the article pointed out. First world problems at its finest
^This.
While Costco shoppers can still use cash or check at it's checkstands, Amazon is solely dependent on electronic payment venues. Blocking out one of the largest networks in the world seems quite counter-intuitive.
I get the frustration of paying "card not present" fees when a company has taken steps to keep fraud issues at such a low level, but ending Visa acceptance seems like it will cost Amazon much more than it will Visa, even if just in the UK. Going the Costco route and making a deal with Visa for sole acceptance would likely be even more costly in the long run.
Changing the co-branded Amazon Visa to MC (or even Amex or Discover) could bring Visa to the bargaining table (I have no idea how many Amazon Visa's from Chase are floating around out there, but I'm fairly certain it's in the millions.) I don't see Chase having an issue with flipping the cards to MC if it came down to it, but there are likely other issues surrounding Amazon shopping for a new card backer besides the Visa issue itself.
What will this mean for the Amazon visa signature holders? Will it no longer work on Amazon? I don't have it but I'm curious I read an article about it and not sure if I'm allowed to link it here but it said in a few days amazon will no longer accept visa payments from a credit card because of high swipe fees.
I believe that is in the UK only.
