Visa’s chief financial officer expects to resolve fee row with Amazon

NEW YORK: Visa expects to resolve its credit card fee dispute with Amazon.com Inc in Britain and hopes to continue its co-branded credit card partnership with the e-commerce giant in the United States, its Chief Financial Officer told Reuters.
Amazon said on Wednesday that it would stop taking payments from Visa credit cards in Britain from mid-January next year.
“We’ve resolved these things in the past and I believe we’ll resolve them in the future,” Vasant Prabhu said in an interview on Friday, adding: “It is our expectation that there will be a resolution so that UK consumers are not impacted.”
Shares in Visa pared losses after Reuters reported Prabhu’s comments, moving from 1.4% lower on the day to 0.5% lower. The shares then gave back those gains and were last trading down 1.4%.