Regulations

Are Your American Express Transaction Fees Going Up?

Posted on January 7, 2009 by LCT Staff - Also by this author - About the author

ATLANTA — For Topper Limousine, based in Marietta, Ga., monthly transaction fees for customers using American Express cards will be increasing substantially starting April 1.

In a letter to AmEx merchant members, American Express said it will levy “non-swiped transaction fees,” which apply to transactions that do not receive full magnetic stripe data from the card.

For Topper Limousine, corporate clients use AmEx cards more than any others to pay for trips, but this does not involve card swiped transactions. It’s all set up when corporate contracts are drafted and corporate authorization forms for AmEx transactions are included, said Danny Bacher, CEO of Topper Limousine, Inc. Bacher expects that AmEx fees will rise from about $10,000 per month to about $25,000.

American Express declined to comment on the fees. “Our merchant agreements are contractual and confidential, and as such we do not comment on rate structures or fees,” AmEx’s Sarah Meron said.

The National Limousine Association has not been informed by other members yet as to whether they’re affected by the American Express policy change, said Patricia Nelson, NLA executive director.

If this policy change to the American Express Card Acceptance Agreement has affected your business, please email LCT Managing Editor Jon LeSage at [email protected] LCT Magazine will follow this policy change and keep readers informed.

Source: LCT Magazine

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