Amex users pay more and are less accepted

Holders of American Express credit cards are finding that they pay higher surcharges than if they use Visa or MasterCard. Research has found that since Reserve Bank reforms were implemented Visa and MasterCard merchant fees have dropped by about 0.60 percentage points to around 0.85 per cent, but at the same time the fees for American Express are only down 0.29 percentage points to about 2.2 per cent. Amex users also face acceptance issues with 86 per cent saying that they have had problems and more than half of these have had trouble using their card more than five times over the last year.

Source: The Australian Financial Review

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