3 ms·Merchants pay a bit more in fees than banks give in rewards, but definitely not 2% more.by ikeboy 10y agoMerchants pay a bit more in fees than banks give in rewards, but definitely not 2% more.ececconi 10y agoI think AMEX makes about 65% of its revenue on interchange fees?ikeboy 10y agoAmex charges higher fees (many of their cards charge the consumer directly, and their merchant fees are higher) and don't charge interest on many cards (charge cards). Their business model is different.