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E-commerce giant Amazon has announced that it will impose a 0.5 per cent surcharge on Visa credit card transactions on its Singaporean website, Amazon.sg, from Sept 15.
An Amazon spokesman told The Straits Times that Singapore is the first country in the world where this surcharge will be imposed, but added that the high cost of accepting card payments is a global problem.
The spokesman said the surcharge will not apply to subscriptions, digital goods and services, as well as Amazon Fresh, the company's grocery delivery service.
An e-mail sent to users of Amazon.sg on Tuesday (Aug 10) attributed the surcharge to Visa's high cost of payments.
"To avoid this surcharge, we encourage you to use a debit or non-Visa credit card as the default payment method in your account," it added.
The Amazon spokesman also told ST that the cost of accepting card payments continues to be an obstacle to providing the best prices for customers.
"These costs should be going down over time with innovation and technological advancements, which allow merchants to reinvest savings into low prices and shopping enhancements for customers," he said.
"Yet, despite these advancements, some cards' cost of payments continues to stay high or even rise. As a result of Visa's continued high cost of payments, a surcharge is being added to Visa credit card payments in Singapore.
"With the rapidly changing payments landscape around the world, we anticipate a future that is less card-centric in the coming years, and we will continue innovating on behalf of customers to add and promote faster, cheaper, and more inclusive payment options to our stores across the globe."
ST has contacted Visa for comment.
https://www.straitstimes.com/singap...or-visa-credit-card-transactions-in-singapore
An Amazon spokesman told The Straits Times that Singapore is the first country in the world where this surcharge will be imposed, but added that the high cost of accepting card payments is a global problem.
The spokesman said the surcharge will not apply to subscriptions, digital goods and services, as well as Amazon Fresh, the company's grocery delivery service.
An e-mail sent to users of Amazon.sg on Tuesday (Aug 10) attributed the surcharge to Visa's high cost of payments.
"To avoid this surcharge, we encourage you to use a debit or non-Visa credit card as the default payment method in your account," it added.
The Amazon spokesman also told ST that the cost of accepting card payments continues to be an obstacle to providing the best prices for customers.
"These costs should be going down over time with innovation and technological advancements, which allow merchants to reinvest savings into low prices and shopping enhancements for customers," he said.
"Yet, despite these advancements, some cards' cost of payments continues to stay high or even rise. As a result of Visa's continued high cost of payments, a surcharge is being added to Visa credit card payments in Singapore.
"With the rapidly changing payments landscape around the world, we anticipate a future that is less card-centric in the coming years, and we will continue innovating on behalf of customers to add and promote faster, cheaper, and more inclusive payment options to our stores across the globe."
ST has contacted Visa for comment.
https://www.straitstimes.com/singap...or-visa-credit-card-transactions-in-singapore
