Goodbye 2.65% surcharge in store or using PayPal when shopping online!
JB Hi-Fi surcharging more than restaurants when paying with Amex is ridiculous; glad it's gone!
PSA: Amex Now Surcharge-Free at JB Hi-Fi
kerfuffle on 11/02/2021 - 15:22
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Useful at aldi
i noticed it at BP and Coles recently
I tapped and it went though as an Eftpos.. no pending processed immediately.
Some places it still goes through as a credit transaction so i think its being rolled out
i remember there was talk about banks making changes across the board in relation to tap and go
Theory behind Amex is users spend more (and higher earners which isn't necessarily true now) therefore can get it back with greater margins. Not sure if true.
Companies choosing to wear it by spreading the cost across the board to appear like not surcharge really.
Believe chip & pin when not selecting credit goes through EFTPOS. Contactless payment didn't go through EFTPOS because EFTPOS was too slow to implement it.
Here is a good starting point for quick read
Banks also get a bigger cut when transactions are routed through VISA / Mastercard there they don't want to act on it.
Believe chip & pin when not selecting credit goes through EFTPOS. Contactless payment didn't go through EFTPOS because EFTPOS was too slow to implement it.
This is what is being rolled out
if you tap and go with a debit card it goes through as EFTPOSAnd the point is: it is now being rolled out now due to EFTPOS being late to implement.
It isn't a new problem, it is just it took people long enough to put in a solution that is already there.
stories I have heard is, you can twist AMEX's arm and negotiate the fees.
my local cafe and Asian grocers recently started to accept AMEX, before it was like "NO NOT AMEX!!!!", now they happily accepts it with a smile, and their shop are decked out with all kinds of AMEX branded hand sanitizers and pre-packaged wet wipes, so I am guessing they are throwing incentives at businesses for signing up.
maybe give your AMEX rep a call and see if they can do something for you.
We have a negotiated fee
its also reduced to almost zero when they do "shop local" promotions but thats only now and then.The fees are 4 times as high as Visa/MC
My boss sometimes doesn't charge the fee.. but they also hold onto your money for up to a week (visa/mc is following day) so overall cost of doing biz with them is just high enough that a fee is warranteddamn :(
oh well, you guys gotta do what you have to do to look out for yourselfs/the business.
Amex small business commission is 1.5%, about same as Visa and MasterCard. Amex also occasionally offers small business deals where they rebate the customer when spending with small businesses (Shop Small) at no additional cost.
I would kill for a standard 1.5% from Amex
Visa and MC is less than 1%
Which means you aren't a small business. Small businesses don't get to negotiate their visa and mastercard rate, they're usually paying 1.3%-1.8% whereas Amex is the opposite - small businesses get preferential pricing (1.5% standard) and promotional incentives. So don't try claiming "if you value small biz don't use Amex to pay".
@[Deactivated]: We are a small biz…
less than 10 employees
i would not claim to be one when i am not.Their merchant fees are astronomical in comparison
I stand by my statement.. if you value small biz.. do not pay with Amex
and FYI all merchant fees are negotiable even for Small Biz (your claim that MC/Vis is not negotiable for SB is completely and factually incorrect)
Amex just are the worst at budging on their fees.Amex is the ONLY card where we charge the surcharge for this reason.
and i mentioned above the only time Amex is decent on fees is when they do their shop small promotions
JB killin the game
It makes sense for JB to cut back on costs.
Why do people still want to pay with Amex? Amex reward points are crap now so I hardly use mine. I think they convert to half a Velocity point per dollar spent.
Better than paying with my Mastercard which earns less points compared to the Amex
concur, Amex gold card earns 1.25 https://www.americanexpress.com/au/credit-cards/membership-b… compared to MC 1 for 1. Redemption same value for credit/GCs
Any idea if the Diners surcharge is still there?
Amex is the only card my work charges a surcharge on.
Their merchant fees are offensive and if people value small biz they would not use amex to pay
JB etc i get it.. they can wear the fees but a lot cant.
Another thing that i notice some banks are now doing is if you tap and go with a debit card (Visa/MC linked to savings account) it processes it as an EFTPOS transaction not a Credit one … further saving the retailer in merchant fees.
Everyone tapping and going was costing the industry millions of dollars when people were not technically paying with credit.