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Only Amex can do this, because they’re both a card network, and card issuer. Allowing them to charge higher interchange fees to merchants than Mastercard or Vis
by avianlyric 4y ago
Only Amex can do this, because they’re both a card network, and card issuer. Allowing them to charge higher interchange fees to merchants than Mastercard or Visa are allowed to in the EU.
- pornel 4y agoAnd the result is that Amex here is rarely accepted, except of some high-margin and tourism-oriented businesses.
- maccard 4y agoI use an amex as my daily card. In the last 30 days I have needed to fall back to my MasterCard to pay my home insurance bill and for the contactless bus service in Edinburgh. All my other bills - coffee out, food shopping, restaurants, PAYG gym, dry cleaning, flight and train, Uber, DIY stores, bars, fuel station, local home dexor/gift shop, even my doggy daycare all accept amex.
- maccard 4y agoHave you any source on the fact that they charge more because of this? Interchange fees are capped in the EU, and the amex fees document based on my reading of it (it's hard to grok) seems in line with the visa one. Also, from my link it's not just amex. Most of the supermarkets have MasterCard rewards cards, and a few of the "new" "banks" have rewards/time limited rewards (e.g. Chase, curve, revolut). So no, it's not only amex, and yes these schemes exist in the UK.