If you liked using your American Express card to pay for things on eBay, you’re going to have to use something else. UPI reported the auction website dropped AMEX as of Saturday due to what it called “unacceptably high” processing fees. WRCR market analyst Ken Mahoney of Mahoney Asset Management in Chestnut Ridge says small businesses often avoided accepting AMEX for that very reason…
The credit card giant didn’t seem all that phased about eBay’s move, decrying their decision to limit customer choice, and noting eBay was less than 0.2 percent of AMEX’s total network volume.