“Amazon’s decision marks a turning point in the modern economy; it’s the moment retailers decided they've had enough of being stung by the high fees charged by the card industry, simply for the privilege of collecting a payment.

This move will prompt other merchants to explore alternative payment options and represents a tailwind for the adoption of newer methods, such as account-to-account (A2A) payments. Not only do these reduce the cost for businesses through removing the now-redundant intermediaries in each card transaction -- they also make it easier, quicker and more secure to pay for consumers, thanks to other innovations like open banking.

Amazon's announcement shows that major brands are ready to fight back against the monopoly of card networks who have long had the power to set and raise fees. It continues the move away from pieces of plastic introduced in the pre-internet world to payment methods built for a digital society.”