American Express Too Expensive????
Merchants were typically not fans of taking American Express as a form of payment. Many believed they were much more expensive, limited clientele, and reconciling transactions was always challenging since Amex deposits were processed separately from the other card types with delayed funding. Merchants no longer will pay the exorbitant fees that were associated with this card.
American Express® launched the OptBlue™ program in May 2014. In the past, American Express® financed and processed each transaction separate Mastercard/Visa/Discover. With OptBlue™, American Express® card acceptance got a lot less expensive since participating acquirers set the pricing which is discounted from the original American Express rates. The transactions are funded along with your Visa/MasterCard/Discover – giving you just one deposit! You can’t get any simpler than that!
American Express cardholders are known to spend more than any other card type. Amex has a fantastic rewards program that entices cardholders to spend. Additionally, Amex transactions tend to have higher per transaction volume. Failure to accept Amex, may turn potential customers away which can adversely affect your business’s bottom line. More than 1.5 million small businesses now accept American Express through this program.
When you partner with Metro Merchant Services and American Express® OptBlue™, you’ll receive:
- The lowest credit card rates in the industry, guaranteed
- A one-stop servicing solution that offers one statement for all of your cards, one settlement process and one customer service contact
- Fast, streamlined processing via technologically-advanced credit card terminals or virtual terminals
- Next day funding
- Access to merchant cash advance and business loan programs
- World-class customer service
- The latest cybersecurity technology that protects your customers’ most sensitive data
If you currently take American Express and process less than $1 million in transactions, you qualify for this program.
Contact Metro today at 800-771-3719 to learn more.