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I look down on people who look down people who don’t accept Amex!
K
I feel that the fees to accept/process these credit cards may be to high compared to the number of customers they have that use it. A random mom and pop shop may not want to pay the processing fees for the random person who wants to use it when the majority of folks would probably have something like Visa.
Good luck outside of the US then. Also, Amex is a ridiculously expensive credit card to process, and businesses who run on thin margins can make a loss on an Amex transaction.
The cost differential is highly dependent on the merchant and card presented. If you present an Amex, get told “no Amex", and then present a super-premium card like Chase Sapphire Reserve, it’s definitely possible that the CSR costs more than the Amex would have. On average Amex is definitely more expensive than V/MC, but that won’t be the case for every transaction
Amex sucks balls. I have a corporate card and I don’t even like to use it. Expensive for no reason: Chase VISA is the way to go.
Didn’t AMEX just lower their transaction fees to drive better small business acceptance ?
Amex is a “normal” credit card... As for why they are dominant in the corporate card business, that’s a long story, but they offer a lot of benefits to companies like expense management integration and data reporting
How much more expensive can it be? 1-2 cents is my guess
@deloitte 1 - it's not a penny or two more. Definitely more like 2% higher than visa and MasterCard
Why don’t we just get normal credit cards why do we have to have AMEX?
I understand europe is different, but at least domestically I'll walk because a place doesn't take amex as well. I'll especially walk if a place doesn't take credit cards at all. There is really no excuse for it these days. With products like square and others even I take credit cards when I have a garage sale. They can pay a percentage or a flat rate.
Awesome - great use of your time P
@D1 it's a percentage, and that shit adds up. This is a stupid post
@D2: good try but terrible guess. For smaller stores, that’s 1-2% extra in fees (so 1-2 cents per dollar) vs. Visa/MC. It adds up
Cool brah
1-2 cents per dollar. That’s what I said 😐
Amex can barely be used outside the US...learned that the hard way. Quickly switched to Visa/MasterCard
Don't be a pompous jerk OP. Places accept Diners Club. Do you look down on them for accepting that?
Duh it’s called AMERICAN express