0
Do many businesses not accept American Express because of their fee structure?
Bmiller107
Yes Because American Express charges a higher interchange rate than the other card networks. For example American Express Charges 3.5% for all restaurant transactions. The lowest rate for this in Visa would be 1.19%, with the Highest being 2.4%
While American Express charges may be higher, the dispute resolution process is a significant deterrent for merchants. If a card holder files a dispute on a transaction, the merchant must endure a resolution process that is stacked against them. American Express requires the merchant to check their account everyday to respond to customer disputes (they will not notify you). If you do not respond in the short amount of time allotted, you lose the dispute (and the money associated with it).
In sum, AMEX has higher fees, longer wait times for funds, horribly unfriendly policies, and an unfair dispute resolution process that almost never goes in favor of the merchant.
Wiki User
∙ 2010-08-07 14:40:13
Add your answer:
Earn +20 pts
Where can you use American Express Cards?
Amex used to be quite restricted but today, most establishments accept American Express. Because American Express can be obtained by any holder of good credit and is not restricted to the wealthy as it once was, most businesses accept it .
Do many places in UK accept American express?
American Express has their own UK division. Because of this, your American Express card should be readily accepted in the UK.
How American laws affect US business?
American laws affect US businesses because laws determine what businesses can and can't do. Regulations imposed on businesses serve the community at large.
Why is a company asking for a Visa credit card over an American Express?
Merchants prefer Visa because they are charged less for the transaction than American Express.
Examples of informal businesses?
Yahoo can be considered an informal business because of its culture. Management encourages employees to express themselves and be creative.
How do American Express companies transact their business?
Companies using American Express credit cards transact their business in much the same way as any other companies. American Express holders may have more difficulty in some areas because the card is not universally accepted.
How do you pay for minecraft in American?
pay with a credit card.(I find paypal the best because my american express didn't work)
What was the reason African-American businesses were important?
They provided services that whites would not because of segregation.
Does heb take American express cards?
Yes since April of 2000 they take American Express Cards. A antitrust lawsuit against Visa and MasterCard filed by American Express prompted them to accept American Express cards. At first they had to imprint American Express Cards at the register and a couple of months later the programed their POS to accept American Express. I know this because I worked at HEB that year. Been accepting American Express ever since. AMEX gift cards work just like the credit cards. As such swipe the AMEX gift card just like a normal credit card throughout the POS terminal while checking out.
Why are American Express cards not accepted by a lot of retailers?
One of the reasons American Express cards are not as widely accepted by a lot of retailers is because they charge retailers more to be able to accept their card. Many of retailers do not meet American Express's high standards as well, limiting their acceptance even more.
What was one reason African-American businesses were important?
They provided services that whites would not because of segregation
How did the growth of railroad technology change American society how did it change businesses?
the growth of railroad technology changed society because it created more jobs for society and it changed businesses since the businesses had to sell the technology.
