Amazon has announced it will abolish the use of Visa credit cards – here’s what it means for shoppers and how to claim a cash reward for switching payment methods.
Shoppers are being called upon to update their billing information as the company abolishes the use of Visa credit cards.
The online retail giant announced last month that Visa credit cards will no longer be accepted as a viable payment method of from January 19.
Officials confirmed the move was influenced by the high credit card transaction fees, but stressed Visa debit cards would still be accepted.
An Amazon spokesman said: “The cost of accepting card payments continues to be an obstacle for businesses striving to provide the best prices for customers. These costs should be going down over time with technological advancements, but instead they continue to stay high or even rise.”
Alternative payment methods including American Express, Mastercard and Eurocard, as well as their own branded credit cards will continue to be viable.
Visa officials said they were “disappointed by their announcement in ending their long-standing relationship with Amazon.
A Visa spokesperson added: “We are very disappointed that Amazon is threatening to restrict consumer choice in the future.
“We have a long-standing relationship with Amazon, and we continue to work toward a resolution, so our cardholders can use their preferred Visa credit cards at Amazon UK without Amazon-imposed restrictions come January 2022.”
Amazon is now calling on shoppers to amend their payment details in exchange for a small cash sum worth up to £20.
How to claim your £20 or £10 reward
Amazon Prime customers are being offered £20 credit to switch from using Visa to an alternative payment method.
Meanwhile, fellow Amazon customers will receive £10 credit for removing a visa credit card as their default card.
Amazon customers with a Visa credit card on their account will be sent an email telling them to update their payment details.
You need to click on the link in this email to qualify for the payment.
Alternatively, you can click on Amazon’s onsite banner or pop-up about the credit, or call customer services and follow the instructions.
Customers can also access their account online and update their payments accordingly.
Amazon have introduced a series of restrictions on what the credit can be used for.
The funds cannot be used on certain subscriptions or certain digital content or products, including Alexa, Fire and Kindle products and devices.
The money cannot be exchanged for cash.