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If I recall correctly, the US has much weaker regulation on credit card merchant fees than the EU and other Western countries?
by ajdlinux 10y ago
If I recall correctly, the US has much weaker regulation on credit card merchant fees than the EU and other Western countries?
- aidenn0 10y agoAnd all the major credit card brands all have "most favored nation" clauses in their terms of service, so if Discover gives you lower fees, you can't charge less for Discover than for Visa.
- ajdlinux 10y agoSo it's not a common thing in the US to have additional surcharges for Amex and Diners?
- ghaff 10y agoNo. A lot of places just don't accept them. It's probably against their merchant contracts to have discounts/surcharges for specific cards.
- dreamcompiler 10y agoExactly. Amex has become almost worthless in the US for me because most retailers don't accept it. (When I've asked them why, they say the fees are too high and Amex takes too long to pay them.) Amex still works for airlines and hotels, but not much else.
- ajdlinux 10y agoHeh. Here in .au Amex acceptance is pretty limited in most smaller businesses, but it's universally accepted at supermarkets and department stores, upmarket restaurants, etc. Smaller businesses, as well as hotels, tend to charge surcharges of 1-4%, if they accept Amex at all.