4 ms·
The difference is not that high. In fact, my understanding is “Visa Signature” and “World Mastercard” (which are most of the premium credit cards) normally cost
by sgerenser 3y ago
The difference is not that high. In fact, my understanding is “Visa Signature” and “World Mastercard” (which are most of the premium credit cards) normally cost about the same as Amex. At worst it may be about 1% more not double.
- kuschku 3y agoCompared to european payment cards with their 0.125% total fees, Amex' 6-7% is a steep ask.
- arcdigital 3y agoIt's nowhere near 6-7%. See my other comment for more details.
- ceejayoz 3y agoThe highest Amex interchange rate is about 3%. https://www.creditdonkey.com/interchange-rates.html https://www.creditdonkey.com/interchange-rates.html
- kuschku 3y agoMerchant rates from local payment processors are: 0.125% for Girocard, 1.39% for VISA/MasterCard, 6.2% for AMEX
- troupe 3y agoPayment cards that only have a 0.125% fee? Are you talking about a debit card or a payment / credit card?
- kuschku 3y ago"payment cards" includes debit cards, credit cards, and other types of cards that can be used for payments, such as the German girocard standard. There's no meaningful difference between these products if your locale has working consumer protection laws. The payment processors I'd be looking at offer merchants rates of 0.125% for girocard, 1.39% for VISA/MasterCard, and 6.2% for AMEX.
- arcdigital 3y agoYou're correct, take a look at my other comment for a breakdown.