Mastercard Will Develop Relationship With Amazon, Froman Says
Mastercard Will Develop Relationship With Amazon, Froman Says
(Bloomberg) -- Mastercard Inc. will continue to develop its relationship with Amazon.com Inc., according to its vice chairman and president of strategic growth Michael Froman, who declined to discuss prospects for a co-brand credit card.
“We’ve had a long standing, good relationship with Amazon,” Froman said in a television interview on the sidelines of the Bloomberg New Economy Forum in Singapore. “I’ve nothing to comment on the particular conversations going on right now.”
Bloomberg reported earlier that Amazon was considering shifting its popular co-brand credit card to Mastercard amid simmering tensions with Visa Inc., a feud that already prompted the retailer to ban the payment giant’s cards in the U.K. starting next year.
A switch would represent another salvo by Amazon, which has also started imposing small surcharges on Visa transactions in Singapore and Australia, and announced a deal last week with Venmo, giving U.S. shoppers another way to avoid Visa entirely beginning in 2022.
Separately, Froman said Mastercard was committed to providing customers with choice as crypto currencies bring dynamism and innovation to the payments space.
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