Nuked Hello, my fellow tech enthusiasts! Today, eBay has made an announcement that may affect some of you who prefer to use American Express cards for your online purchases. Starting August 17th, eBay will no longer be accepting American Express payments due to what they deem as’unacceptably high’ fees.
EBay attributes this change to the rising credit card transaction fees and the lack of competition in the market. They are calling for more regulations to drive greater competition and reduce processing costs. However, fear not, as eBay will still be accepting Visa, Mastercard, Discover, and other popular payment methods like PayPal, Apple Pay, Google Pay, and Venmo.
On the other hand, American Express disagrees with eBay’s decision, stating that their fees are similar to other cards accepted by the platform. They believe that dropping American Express as a payment option goes against eBay’s goal of increasing competition at the point of sale. In fact, eBay only represents less than 0.2 percent of Amex’s total network volume.
Disputes between retailers and credit card companies are not uncommon, as we’ve seen in the past with Amazon considering dropping support for Visa in the UK back in 2022. It will be interesting to see how this situation unfolds and if any resolutions can be reached between eBay and American Express in the future.
