AMEX Matching Visa / MasterCard Merchant Services Fees?

I have heard from several sources over the last couple of weeks instances of AMEX slashing merch fee's to match Visa and Mastercard.
A client whom is in the banking industry first bough the above to my attention noting the reduction had been implemented at his wife's coffee shop. I have since heard a similar story from other clients noting other businesses they deal with had started to accept AMEX of the back of the competitive rates.

Can any one else confirm of the same happening withing their business?

I reached out to AMEX in attempt to make a similar arrangement for the company I work for, the associate I spoke with denied any knowledge of such a thing and noted our existing rate is very close to their competitors (Actually almost 3 times the cost).

Related Stores

American Express
American Express

Comments

  • -4

    Yes, AMEX is terrible, I think our company got charged roughly 3% when customer pay using AMEX while VISA and Master is between 0.8% to 1.5% depending of type of card. We have rejected AMEX payments since unless customers is prepared to pay the 3% extra charge.

      • Not really have a choice as sometimes the profit margin is less than 10% and we can't give 3% of those to AMEX just like that, for doing absolutely nothing. Always prefer direct debit as it is the cheapest, not in retail but wholesale, most customers are on credit terms so not much loss sales for not taking AMEX.

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