AmEx targets small, mid-sized merchants

AmEx targets small, mid-sized merchants
Tags: Bank / Credit Union, Debit / Credit, EFT Networks, North America, Other, Public Companies
December 26, 2007

Digital Transactions: American Express Co. has signed with First Data Corp. to book small and mid-sized merchants. AmEx will own the merchant accounts and have control over pricing. For AmEx, which charges the highest discount rates of the four major card networks, the partnership makes accepting its card easier for merchants. Instead of receiving separate AmEx statements and having a separate number to call for help, merchants will get consolidated statements for their Visa, MasterCard, AmEx and maybe even Discover transactions from one processor.