Accept American Express for your merchant account, anyone?

[HateEbay]

Those who have their own merchant account, could you tell if you applied to accept American Express. I wonder should I not accept American Express, they have very high percentage fee and also charge monthly fee. I don't think a lot of customers use this card. Please give your advise. Thank you.

[aspkin]

I think it's worth it. All you have to do is call them up and sign up. They'll give you a merchant account number which you can use with your merchant account. It's true not that many people use Amex, but it's still worth it. And the cost are not that bad.

[HateEbay]

Hi Apskin,

The rate I got is 3.5% and $5.95 monthly fees (if the yearly AExpress processed amount is less than $5000 and they charge the fee monthly). I don't think I will go over this amount.

Should I go for it? I am thinking if a customer wants to pay with AExpress, I will send them a Google checkout invoice, which charges only 2% for any card and don't have to pay monthly fee.

What is the percentage of your customers who have used American Express?

[aspkin]

About 1/20

But I think it's still worth it. And it's no hassle to setup.

[Jonas]

Amex is known to charge merchants and cardholders higher rates.