eBay customers will no longer be able to use American Express credit cards to pay for purchases on the popular online marketplace come mid-August, eBay said.
eBay customers will no longer be able to use American Express credit cards to pay for purchases on the online marketplace come mid-August. The e-commerce company said in a statement to FOX Business that "unacceptably high fees American Express charges for processing credit card transactions" have prompted it to cease accepting American Express as of Aug. 17.
" "Our research tells us that in the US the cost of acceptance for American Express is comparable to what eBay pays for similar cards on other networks," the credit card company said in its statement. "We find eBay’s decision to drop American Express as a payment choice for customers to be inconsistent with their stated desire to increase competition at the point of sale.
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