Does ST know: Is there a specific reason American Express charges merchants higher fee than MC/Visa? (Other than 'because they can')? -- nm
Posted by
ty97
Nov 4 '11, 15:19
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Responses:
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Used to be Amex didn't charge interest (balance was due in full every month) so their only revenue was from the merchant. -- nm
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MojaveMeg
Nov 4, 15:55
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until recently, like the 80's, amex was like a foriegn service valet, conceirge where they would do travel agent stuff, lots of full service
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zeitgeist
Nov 4, 15:40
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typically they spend more money on loyalty programs, and fund it through the merchant fee.
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mafic
Nov 4, 15:29
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Jerry Sienfeld & Karl Malden are still being paid :) -- nm
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peglegpete
Nov 4, 15:21
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because the others charge lower to undercut amex in order to get into more stores. -- nm
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tRuMaN
Nov 4, 15:20
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