Should You Accept Amex?

Consumers with an Amex card usually have one because of the rewards, it is often difficult to find businesses that accept them and when they do they are often very loyal. The problem has been the high cost of processing and the slowness of getting your money deposited. In Canada there is a new problem that allows merchants to get paid at the same rate as Visa and MasterCard with lower rates. Having said that, the lower rates (cost to processors) are roughly comparable to Visa and MasterCard but vary wildly between processors so be careful.

Bottom line if you get a fair rate it is advisable to accept Amex especially if you are in a competitive business.

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