Amazon takes on Visa in the UK over transaction fees; South Korea’s bold app-store payments move

MLex Market Insight

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.