Stock in United States-based companies American Express and Visa fell on Monday after a report that Amazon will no longer use their brands to process payments on behalf of consumers in the United Kingdom.
Amazon said it would “limit” its card issuers in the UK to the major UK banks Barclays, HSBC, Lloyds, Santander and Royal Bank of Scotland, according to the Financial Times. Visa declined to comment to Fox News.
This is the latest blow to the U.S. credit card giants. In February, Citigroup, JPMorgan Chase and American Express lost a bid to handle exchange payments for the bitcoin currency, which is currently in a 14-day suspension period.
According to data from Euromonitor International, Visa is the second-largest supplier of payment services in the United Kingdom, behind chip-enabled MasterCard.
Visa stock was down 2.76 percent to $105.61 per share at 2:13 pm EDT. AmEx stock was down 3.23 percent to $111.10.
A spokesperson for Amazon declined to comment.
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