Customers in the UK will still be able to use debit cards – including Visa debit cards – as well as non-Visa cards including Mastercard, Amex, and Eurocard. “We know this may be inconvenient, and we’re here to help you through this transition,” the company said, urging customers to update any default Visa credit card payment setups to alternative methods. The decision could be due to Visa’s hike to fees tacked on to UK-EU customer purchases following Brexit, from October this year. So-called interchange fees were reportedly increased to interregional caps to up to 1.15% for debit cards and 1.5% for consumer credit cards by Visa, rates far higher than previously-imposed EU caps. Mastercard, too, has increased its interchange fees. However, Visa is a far larger card issuer in the United Kingdom and the decision will likely impact millions of customers.
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