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Amazon takes on Visa in the UK over transaction fees; South Korea’s bold app-store payments move
26 November 2021 00:00
If you’re a small retailer and you’re unhappy with the fees set by the world’s two credit-card giants, Visa and Mastercard, there’s not much you can do. But when you’re a colossus of online shopping, you might just have enough clout to demand changes. This is the titanic clash unfolding in the UK, where Amazon has taken on Visa and warned that it will stop taking payments from customers using locally issued Visa credit cards. The threat appears likely to force Visa to the negotiating table. Also on today’s podcast: why South Korea’s bold attempt to crack open Apple and Google app stores is struggling to achieve its goals.
17 November 2021 15:57 by Fiona MaxwellAmazon’s decision to block UK-issued Visa credit cards has called the payment giant’s bluff and may be enough to bring its fees down.
18 November 2021 03:03 by Jenny LeeApple and Google’s stranglehold on in-app payment services was targeted by world-first legislation in South Korea
James Panichi Senior Editor, Asia Pacific
James, an Australian journalist with over 25 years’ experience in print and electronic media, helps to oversee MLex’s coverage of regulatory risk in Asia, with special attention to Australia and New Zealand. In 2016, James was appointed as MLex’s managing editor for continental Europe, overseeing the Brussels bureau’s coverage of EU regulatory affairs and managing a team of 16 journalists in Brussels and Geneva. Previously James worked for the European Voice newspaper, before joining the... Read more
Fiona Maxwell Chief Correspondent
Fiona Maxwell is a financial services senior correspondent at MLex in London. She began her career as a reporter for Risk.net, writing about EU post-crisis regulation, and later worked for POLITICO in Brussels, covering the intersect between financial policy and politics. Prior to joining MLex, Fiona worked at the Bank of England as a policy adviser in the prudential policy directorate.Connect with Fiona on Twitter.
Jenny Lee Correspondent
Jenny joined MLex’s Seoul bureau in 2021 as a correspondent focusing on competition law and data privacy and security. Jenny received a Master’s degree from Northwestern University’s renowned Medill School of Journalism and worked for a number of news organizations in the US, including the Associated Press Television News, McClatchy and Voice of America, where she worked for almost three years in Washington DC. She returned to her native South Korea in 2019 as a... Read more