[Levin]

November 23, 2021
12:20 AM +08
Last Updated 4 hours ago

By David Henry and Matt Scuffham


NEW YORK, Nov 22 (Reuters) - Amazon.com Inc (AMZN.O)'s latest spat with Visa (V.N) shows big retailers, armed with a growing array of payment options, are gaining the upper hand in their power struggle with card providers, but it's not a crisis for the payment company.

Amazon said last week that it would stop accepting Visa credit cards issued in the United Kingdom from Jan. 19, 2022, saying that despite technology advancements the fees on such transactions remained high or in some cases were rising.

While Amazon may yet back down on the UK front, where the company accounts for less than 1% of Visa's credit card volume, according to an estimate by Piper Sandler analysts, the dispute is a bad sign for the card industry. Some analysts said it could presage a fight in the much bigger U.S. market.

......

Credit cards dominated a third of North American ecommerce spending in 2020, according to payments giant WorldPay, but mobile payment options like Venmo and 'buy now, pay later' (BNPL) financing plans are chipping away at their market share.


https://www.reuters.com/markets/deals/vi...021-11-22/

[singlon]

Just infighting within the 5-Eyes.
This time no relief valve in Saddam Hussein Gadafei.
The The KM faction already out of action no juice.
On 23 11 2021 Evergrande default becos Green bonds cannot fly.
Must brain storming again.