Increase in Transaction Service Charge for Merchants?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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Postby Reclusive46 » Sat Dec 15, 2012 11:08 am

Seems bizarre. World wide Amex have been lowing their fees. In the UK Amex is now cheaper on average for certain merchant categories. My friend pays 1.6% for Visa and Amex and 1.55% for Amex under his new agreement. They have also abolished the extra fee when processing foreign Amex cards. His business is only small. He particular hates MasterCard World Elie cards as they cost a fortune to process. (We don't really have any Visa Signatures in the UK, Any of the decent credit cards are Amex or MasterCard)
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Postby trumpet-205 » Sat Dec 15, 2012 3:07 pm

Robrus1 wrote:Agreed. The first time I paid someone who was using one it was at a small coffee shop. It made me hesitant because I didn't want to put my credit card # into someone's phone. I'm sure it's legit or whatever but it just seems cheapy.

Is not. For Square, PayPal, etc be able to process credit card it must pass PCI-DSS complaince audit each year.

Most credit card fraud happens with skimming or online shopping. Rarely does fraud occur with terminal tampering. I'm talking about terminals with dedicated merchant account, not iPad or smartphone. Those terminals can be easily tampered during manufacturing.
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