Less places taking Amex?

Ben8282

ttoli wrote: »

I work for a travel company in Cyprus, the banks here charge the retailer 10% to process Amex transactions, hence we no longer accept Amex.

10%? Are you sure? That seems a bit over the top.

Chino

Ben8282 wrote: »

10%? Are you sure? That seems a bit over the top.

OK so, based on your personal knowledge, what do banks in Cyprus normally charge retailers for American Express transactions?

Ben8282

Chino wrote: »

OK so, based on your personal knowledge, what do banks in Cyprus normally charge retailers for American Express transactions?

Banks obviously don't process Amex transactions in the same way as Visa or Mastercard transactions so I could answer that they don't charge anything, but I am assuming that the OP has used the term 'banks' in the sense of the providers of merchant services to retailers. Also Amex merchant fees are set by Amex, not Cypriot banks.
I have no personal knowledge of this matter but find it very hard to accept that retailers in Cyprus are charged a merchant fee of 10% on Amex transactions as it is grossly excessive and rather than offer evidence that they are not, would ask you to provide supporting evidence that they are if you disagree with my assessment that a merchant fee of 10% is excessive and unlikely. I believe the OP may have made an error in respect of the claim that 10% merchant fees are being charged to retailers by Amex in Cyprus.

pvt

Malkytheheed wrote: »

Costco were not AMEX only....:rotfl:

Oh yes they were

It was some kind of deal between AmEx and Costco that involved them offering Costco branded AmEx cards to customers.