AMEX not working ?

Keep in mind - that $3K probably cost them over $100 just to accept your payment with AMEX. Credit card fees for small merchants are insanely high. That's 3-4% right off the top.

Interac Debit cost for the same transaction? Less than $0.05.
 
canucklehead said:
Keep in mind - that $3K probably cost them over $100 just to accept your payment with AMEX. Credit card fees for small merchants are insanely high. That's 3-4% right off the top.

Interac Debit cost for the same transaction? Less than $0.05.
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Hey. It does not matter. You pay visa, master card. They all charge. Business is business. Sometimes you save $100 but loose your client. There are many fish in the ocean. I pay Amex because I pay it off every month. Keeps me honest. You can pay cash. It's your choice. Free enterprise. Free country.
 
Stopped taking AMEX where I work, Amex was taking almost all the profit, their fees are up to twice what the other cards are. Visa and M/C will negotiate , Amex will not. Amex cards are popular with individuals because they offer excellent rewards..... gee I wonder who's covering those costs?. In 100% of cases, we found an Amex card holder has a visa or m/c to use, well, unless its over limit.
 
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I use my Amex gold rewards card for everything I possibly can. The points have good value and are quite flexible. They can be used as cash back against your bill or exchanged for Aeroplan as well several hotel plan's points one for one. Given the choice between shopping online with a company that takes Amex and one that doesn't I'll go with Amex whenever possible.
 
I get why customers WANT to use Amex - you just need to understand why merchants DON'T want people to use Amex. Some other premium cards (MasterCard World Elite and Visa Infinite) come close to Amex rates, but Amex is consistently the most expensive form of payment to accept. Reward points aren't free... and CC companies just pass along the cost to merchants.

Interac is orders of magnitude less expensive, which is why most merchants prefer it (in person). Online, you're kinda stuck.
 
canucklehead said:
I get why customers WANT to use Amex - you just need to understand why merchants DON'T want people to use Amex. Some other premium cards (MasterCard World Elite and Visa Infinite) come close to Amex rates, but Amex is consistently the most expensive form of payment to accept. Reward points aren't free... and CC companies just pass along the cost to merchants.

Interac is orders of magnitude less expensive, which is why most merchants prefer it (in person). Online, you're kinda stuck.
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Oh, I understand that merchants would prefer not to pay the extra cost of taking Amex. I just don't care. Amex fees are part of the price they need to pay to get my business. As I said, all things being equal, I will always choose the store that takes Amex over the one that doesn't.
 
sailor723 said:
Oh, I understand that merchants would prefer not to pay the extra cost of taking Amex. I just don't care. Amex fees are part of the price they need to pay to get my business. As I said, all things being equal, I will always choose the store that takes Amex over the one that doesn't.
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Point taken. :) You're Amex's ideal customer!
 
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