“Visa and Mastercard tend to charge credit card processing fees between 1.15 percent + $0.05 and 2.5 percent + $0.10 per transaction. American Express charges 1.43 percent + $0.10 to 3.30 percent + $0.10 per transaction. That means if a business sells $10,000 in credit card transactions per week, they could pay around $115 to $250 in Visa and Mastercard fees versus around $143 to $330 in Amex fees.”
Now that CapOne is trying to buy Discover, I have no idea what that will mean…
I think a lot of people don’t realize what a big piece merchant fees are. This is why so many places just don’t take AmEx.
https://www.bankrate.com/credit-cards/business/why-american-express-isnt-universally-accepted/#why
“Visa and Mastercard tend to charge credit card processing fees between 1.15 percent + $0.05 and 2.5 percent + $0.10 per transaction. American Express charges 1.43 percent + $0.10 to 3.30 percent + $0.10 per transaction. That means if a business sells $10,000 in credit card transactions per week, they could pay around $115 to $250 in Visa and Mastercard fees versus around $143 to $330 in Amex fees.”
Now that CapOne is trying to buy Discover, I have no idea what that will mean…
https://www.kiplinger.com/personal-finance/credit-cards/capital-one-and-discovers-merger-approved-heres-what-it-means-for-your-wallet