Credit Restriction: Visa has fallen as a result of the Amazon ban in the UK New Technologies

Losses accelerated in the afternoon as Bloomberg News reported that Amazon.com is also considering changing its branded credit card with Mastercard’s opponent.

Visa Inc. had its biggest year-and-a-half decline on Wednesday, and Mastercard Inc. dragging industrial pairs like, after Amazon.com Inc. said it would stop accepting purchases made with credit cards issued in the UK. next year.

Shares of Visa fell 6.5%, eliminating the value of about $ 33 billion, while Amazon fell behind the large fees charged for processing transactions. Losses in the afternoon have accelerated as Bloomberg News is considering Amazon changing its branded credit card in opposition to Mastercard.

The drop adds to what has been a painful three-and-a-half months for Visa, extending it from the July record to 20%. Among card companies, Mastercard reduced part of its previous decline by 3.5%, American Express Co. fell 0.8% and Synchrony Financial fell 1.9%.

“Although we believe that if Amazon continues with its plans it is negative for Visa, we believe the two companies are likely to reach an agreement that reduces Amazon’s UK credit card fees on the Visa network,” said analyst Chris Donat Piper Sandler.

The upcoming UK ban is the latest in Amazon’s recent international changes to Visa credit cards this year. In August, the e-commerce giant told Singapore customers that it would impose a 0.5% surcharge on all Visa credit card applications. Less than a month later he announced a similar move for Australian customers.

Investor sentiment over stocks of visas and other credit cards has also eased in recent months as the so-called “buy now, pay later” offer has risen. Affirm Holdings Inc., Afterpay Ltd. and Klarna Inc. companies like this have increased in popularity this year, and have raised concerns that consumers will be less dependent on credit cards. However, analysts have downplayed the risks, saying fears of a structural change are exaggerated.