Amazon, Visa to settle dispute over credit card fees

San Francisco: Tech giant Amazon has reportedly reached a global agreement with Visa to settle a dispute over the credit card giant's fees.The deal means Amazon customers in the UK can continue using Visa credit cards, as previously announced by the two companies, CNBC reported.

Amazon will also drop a 0.5 per cent surcharge on Visa credit card transactions in Singapore and Australia, which it introduced last year.Last month, Amazon said it had dropped plans to stop accepting Visa credit cards in Britain, two days before the change was expected to take place. The companies said at the time that they would continue talks on a broader resolution to their spat.

"We have recently reached a global agreement with Visa that allows all customers to continue using their Visa credit cards in our stores," an Amazon spokesperson was quoted as saying by CNBC.