By Steve Goldstein
Amazon.com on Monday said it will keep allowing payments in the U.K. using Visa, a reversal of a plan by the online retailing giant to stop using the service.
Amazon said “the expected change regarding the use of Visa credit cards on Amazon will no longer take place on January 19. We are working closely with Visa on a potential solution.”
Amazon /zigman2/quotes/210331248/composite AMZN -7.16% first said in November that it would stop accepting credit cards using the service. Amazon had blamed Visa’s /zigman2/quotes/203660239/composite V -1.97% transaction fees for the decision. Amazon also has its own credit card in the U.K. using Mastercard /zigman2/quotes/207581792/composite MA -0.87% .
Amazon had said that debit cards were not affected.
Visa shares have dropped 14% their peak in July, and Amazon shares have fallen 14% from their peak, which also was in July.