Visa and Amazon have reached an agreement that will see the financial services company's cards accepted across all Amazon.com stores and sites worldwide.

Last November Amazon said it would stop accepting Visa cards issued in the UK for payments, due to the high transactions fees.

Now it seems the companies have come to an agreement on the cards and are eager to enhance their relationship in the future.

The agreement means Amazon will not charge customers who use Visa on their Singapore and Australian sites an additional fee and will also not turn off Visa cards from their .co.uk site.

A statement from Amazon to Reuters said: "We've recently reached a global agreement with Visa that allows all customers to continue using their Visa credit cards in our stores."

In Association with

A Visa spokesperson added: "Visa is pleased to have reached a broad, global agreement with Amazon.

"This agreement includes the acceptance of Visa at all Amazon stores and sites today, as well as a joint commitment to collaboration on new product and technology initiatives to ensure innovative payment experiences for our customers in the future."

The initial fallout came as a result of the charges added to retailers for consumer purchases at checkout, something that can be a matter of cents for certain transactions although figures show merchants spent $110bn in card transaction fees in 2020 alone.

Amazon also took issue with all e-commerce payments registering as "card not present" which incurs a higher charge.

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