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Deepti Sri · · 1 min readAmazon to impose 0.5% surcharge on Visa credit card payments in Singapore
“Ecommerce giant Amazon has announced that it will impose a 0.5% surcharge on Visa credit card transactions on its Singapore website, Amazon.sg, from September 15,” The Straits Times reported, citing an Amazon spokesperson.
Details:
- The spokesperson said that the city-state is the first market where the fee will be imposed but added that the high costs related to accepting card payments were being felt worldwide.
- The surcharge will apply to most transactions made on Amazon.sg, barring those that involve grocery orders made via Amazon Fresh, in-app purchases on Amazon’s game-streaming platform Twitch, and subscriptions to Amazon Prime.
Dive deeper:
- In May, Amazon Pay India, the online payment arm of Amazon.in, received US$30 million in fresh funding from Amazon Corporate Holdings in Singapore and Amazon.com in Mauritius.
- In a bid to ramp up its position among offline retailers in India, Amazon also acquired retail tech startup Perpule in March.
Editing by Miguel Cordon and Arpit Nayak
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