One of the world’s leading e-Commerce companies, Amazon.com Inc has said it will stop accepting Visa Inc issued credit cards in the United Kingdom in 2022 because of the company’s high transaction fees.
The e-Commerce giant disclosed on Wednesday.
“As a result of Visa’s continued high cost of payments, we regret that Amazon.co.uk will no longer accept UK-issued Visa credit cards as of 19 January, 2022,” an Amazon spokesperson said in an emailed statement.
Amazon customers can still use Visa debit cards, Mastercard and Amex credit cards, and Eurocard, the company said in a note to its customers.
“We are very disappointed that Amazon is threatening to restrict consumer choice in the future,” a Visa spokesperson said in a statement.
“We continue to work toward a resolution, so our cardholders can use their preferred Visa credit cards at Amazon UK without Amazon-imposed restrictions come January 2022.”
The high fees were after Britain exited the European Union, together with the EU-enforced cap on fees charged by card issuers.
However, UK Trade Commission has called on the government to improve EU-UK trade relations and look into fees charged by card issuers.
“If Amazon can’t make it work, with all their resources and ability to navigate legislation to avoid costs, then small businesses have no chance and so the government must improve the UK-EU trade and cooperation agreement to keep British businesses competitive,” said Tamara Cincik from UK Trade and Business Commission
2021 Jumia Black Friday Ends Today
2021 Jumia Black Friday events will be coming to an end today. The event which had started on November 5 with deals like Treasure Hunts and Flash sales among others has been of immense benefit to Nigerians. Many Nigerians took advantage of the deals to shop for items that they like.
Investors king had previously reported the excitement of Nigerians about the Jumia Black Friday and how discounts on items were as much as 52 per cent and more.
Under the Treasure Hunts deals, there are hidden discounted items of as much as 99 per cent off. Customers are supposed to find the hidden item and anyone that luckily finds it gets it. This and many other deals are all in the fulfillment of the promise of Jumia that this year’s Black Friday deals will be earth-shattering.
One among the many people that have enjoyed the earth-shattering deals is, according to Vanguard, Stephenia Gara, a caterer based in Abuja. She was reported to be one of the Treasure Hunts winners and was able to purchase an iPhone 13 for N6,850.
iPhone 13 is sold for over N800,000, but Stephenia was said to have stayed awake, specifically for the Treasure Hunt deal, and was able to get the phone for a way cheaper amount. Vanguard reported her to have said that she was going to use the phone to take clean pictures of the food that she sells.
Another lucky beneficiary of the many deals from Jumia Black Friday is Damilola Olawale. Olawale won a N200,000 voucher and a one-year free Jumia Prime Subscription. With this, Olawale can get free delivery, any time he shops on Jumia, to any location in Nigeria. He would also enjoy discounts.
Jumia over years has sustained itself as a trusted shopping place for Nigerians with such events as Black Friday and others. This year’s Black Friday is expected to end today.
Flutterwave Introduces Flutterwave Market, A New E-Commerce Service To Scale SMEs Growth
Africa’s leading payment company, Flutterwave recently announced the launch of its new e-commerce service, Flutterwave Market. The newly launched e-commerce service is “an extension of its Flutterwave Store service – that will bring together a collection of merchant stores in one place”.
Flutterwave market was launched with the goal of helping merchants increase their sales and revenue, and also onboard new customers. This new development will enable customers to have a seamless shopping experience from a wide range of different products and services offered by merchants on the Flutterwave store.
According to the payment company, “the Flutterwave Market will display Flutterwave stores across various product categories and countries. It will include features such as product search, category display and country filter to help enhance the shopping experience.
“The solution will display product categories such as men and women’s fashion, beauty, and food—in line with the preferences of most shoppers on Flutterwave Store. Shoppers will be able to order products and have the products delivered at their preferred locations”.
Flutterwave store was launched at the peak of COVID-19 in April 2020, to help small businesses set up online shops following the nationwide lockdown. Since its launch, the online store has seen over 30,000 businesses registered on its portal and also added features like discount codes and multiple product uploads.
Olugbenga ‘GB’ Agboola, Founder and Chief Executive Officer of Flutterwave said, “This is an exciting next chapter for the Flutterwave brand, and we’re excited to introduce this new marketplace experience to our merchants worldwide, Flutterwave Market is a fully functional e-commerce service that serves as a megastore where buyers can purchase a variety of goods from multiple sellers under one roof.”
GB continued: “Since the successful launch of Flutterwave Store, we have listened to our customers and acted on what they need to scale their businesses. Launching the new marketplace will transform their business, taking it to the next stage of growth. Flutterwave Market is for us a way to create endless possibilities for our Flutterwave Store users. We’re not merely aggregating existing stores, we’re positioning them to make more sales.”
Recent data from Statista shows that as of 2020, the number of digital buyers in Africa experienced an increase to 281 million. The number of e-commerce users in the continent is also estimated to grow significantly, reaching over 334 million in 2021. By 2025, they could be roughly 520 million, almost doubling the number in 2019.
Jumia Grabs Opportunity for Black Friday Deals
Black Friday is a concept that originated in the United States, but the yearly retail fever has had a popularity boom across Africa in recent years, with customers moving to take advantage of the best deals that retailers have available.
Jumia, which is a marketplace with its focus placed on Africa quickly grabbed this opportunity when it first introduced the Black Friday event about nine years ago across its markets in Africa, focusing mainly on Egypt and Cairo which are the company’s top two cities when considering volume of orders.
Since its inception, the company has witnessed staggering levels of success with the event, and company data reveals that the love which consumers have for Black Friday has been increasing across the continent every year.
During the 2020 Black Friday event, the top sellers on the Jumia platform saw a 141% year-on-year increase in the amount of items sold, with one out of three clicks on average being a new customer. The company also said that it witnessed an increase in brand appetite across every one of Jumia’s 10 markets during last year’s sale, which lasted every Friday in November.
The trend is expected to continue this year’s version of Jumia’s Black Friday, as it is running from November 5 until November 30.
The company which is based in Nigeria has entered into partnerships with major brands like Adidas, HP, Unilever and Diageo, as well as with thousands of sellers in order to provide consumers the best deals on a very wide range of products.
The CEO of Jumia Nigeria, Massimiliano Spalazzi told Lagos-based Vanguard that the Black Friday programme has been a success every year, and is the biggest sale of the year.
He also stated that the 2021 Black Friday campaign will place focus on strengthening the company’s position as a brand within the African market, and providing support to the sellers.
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