NEW YORK (AP) — Online marketplace behemoth eBay said it plans to no longer accept American Express, citing what the company says are “unacceptably high fees...
NEW YORK — Online marketplace behemoth eBay said it plans to no longer accept American Express , citing what the company says are “unacceptably high fees” and that customers have other payment options to shop online.
“After careful consideration, eBay has decided to no longer accept American Express globally effective Aug. 17 due to the unacceptably high fees American Express charges for processing credit card transactions," said eBay spokesman Scott Overland, in a statement. Online merchants have become increasingly combative with payment processors in recent years over the fees they charge to accept payments. Amazon had a similar fight with Visa in the U.K. roughly two years ago, where Amazon threatened to drop Visa as a payment acceptance type over what it also called high fees.Like other payment processors, AmEx takes a percentage of each transaction a merchant processes on their network.
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