SAN JOSE, Calif.—eBay said it will drop American Express cards as a payment option because of “unacceptably high fees.”
eBay notified customers about the change, which is set to take effect Aug. 17, Bloomberg reported.
According to the report, the two companies have been embroiled in negotiations around the merchant discount rates, also known as interchange fees, charged by Amex at the point of sale.
“The fees, imposed each time a card is used in a transaction, have long been a headache for merchants,” Bloomberg stated. “Amex, however, said its research shows that its fees are comparable to what eBay must pay to accept similar cards on other networks, such as Visa and Mastercard, while providing more value.”
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