“Amazon’s recent agreement with Visa illustrates the moveable feast that is the current payments ecosystem. Amazon’s position as an enormous global retailer enables them to negotiate card scheme pricing, a standard for all merchants. So why can’t smaller businesses do the same? This increases the pressure on independent merchants who do not have the buying power of Amazon. Many of these businesses already pay thousands of pounds per year, only to face mid-contract price increases.

There are, however, alternatives for retailers to consider. Account-to-account payments are simpler and fairer for merchants as they bypass traditional card schemes to save consumers and merchants both money and time.”

Is this of interest? Do let me know if you have any questions or require any further information. Please get in touch if you would like to arrange a briefing with Karl on this topic.