Quote:
Originally Posted by Jacks
This has nothing to do with transaction fees, if it did they would have stopped taking AMEX a long time ago. AMEX charges merchants ridiculous rates, that's why most places won't take it.
This is about them pimping their own Mastercard, they want to make the big interest on unpaid balances.
|
This. Our AMEX fees are almost 1.5% higher than Visa fees.
The average transaction at Walmart is $65, and they are doing $34 million per hour IIRC. Their Visa fees are very low.
AMEX lost Costco in the US though because of high fees.