Reported 4 months ago
eBay, the online marketplace giant, announced that it will no longer accept American Express due to what the company believes are excessively high transaction fees. eBay stated that customers have alternative payment options available for their online shopping needs. This decision deals a blow to American Express, as eBay's customers, known for being high spenders, are a valuable demographic. The move is part of a larger trend where online merchants are pushing back against payment processors for high fees, as seen previously with Amazon and Visa in the U.K. American Express, on the other hand, argues that eBay's cost to accept their cards is comparable to other networks and that their cardmembers typically spend double at eBay compared to other networks.
Source: YAHOO