2007-08-23 15:39:48 · 6 answers · asked by kel t 2 in Business & Finance ➔ Credit
I have a unique birds eye view of American Express, owning 4 retail stores with higher ticket items that accepts Visa, MC, and American Express.
Visa accounts for aproximaely 59% of our credit card dollars taken in, MC 38%, and American Express, less than 3%
One of the reasons Amex is not popular, and not accepted by most businesses is it charges us (the store owners) too much of a commission on every dollar collected.
Eg, If I collect $100.00 with either Visa or MC, they keep 1.65% as a commision. We write it off as a business expense.
However, American Express charges 3.5% commission, or almost double of what Visa/MC charges.
Hopefully this gave you a brief overview of why Amex isn't too popular, and how the credit card companies make money off of the businesses that accept them.
2007-08-23 16:34:17 · answer #1 · answered by Anonymous · 0⤊ 0⤋
How much? I don't know.. probably $2 for each customer.
2007-08-24 08:45:57 · answer #2 · answered by Connie 3 · 0⤊ 0⤋
Like 27
Actully stole 1 from discover!
2007-08-23 22:42:42 · answer #3 · answered by Anonymous · 0⤊ 0⤋
This is confidential so I don't think you're able to find an answer anywhere.
2007-08-23 22:43:09 · answer #4 · answered by SGElite 7 · 0⤊ 0⤋
What difference would it make?
2007-08-23 22:49:19 · answer #5 · answered by bdancer222 7 · 0⤊ 0⤋
alot
2007-08-23 23:10:17 · answer #6 · answered by Crazy cat lady >^ ^< 4 · 0⤊ 0⤋