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Originally Posted by ianch99
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And yet, this dispute hinges on domestic fees, not cross-border ones. The interchange cap is irrelevant.
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An Amazon spokesperson said the dispute was to do with "pretty egregious" price rises from Visa over a number of years with no additional value to its service.
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And
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Amazon and Visa said any changes in fees had nothing to do with Brexit.
Both Visa and its rival Mastercard have raised the so-called interchange fee on cross-border transactions between businesses in the UK and the European Union following Brexit.
The dispute between Amazon and Visa is to do with the fees the credit card company charges Amazon for its services in the UK.
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https://www.bbc.co.uk/news/business-59306200
---------- Post added at 15:47 ---------- Previous post was at 15:45 ----------
Quote:
Originally Posted by spiderplant
Because when you buy from Amazon UK you are actually paying a company in Luxembourg.
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You are buying from a subsidiary of Amazon headquartered in Luxembourg, but Sterling transactions within the UK are processed within the UK and are subject to credit card company domestic charges. As above, they are unaffected by post-Brexit changes in the cross-border interchange rate.