Posted on 07/27/2024 2:47:21 PM PDT by Recovering_Democrat
eBay will no longer accept American Express payments starting August 17th, the company announced on Wednesday. It blames the change on the “unacceptably high fees” for Amex credit card transactions.
“Credit card transaction fees continue to rise unabated because of a lack of meaningful competition,” eBay writes in a notice to customers. “There is a need for more robust regulations to drive greater competition to credit card networks and help reduce transaction processing costs.” eBay still accepts Visa, Mastercard, Discover, and other payment methods, like PayPal, Apple Pay, Google Pay, and Venmo.
Amex disagrees with eBay’s move, stating on its website that its fees are similar to other cards accepted by eBay. “We find eBay’s decision to drop American Express as a payment choice for consumers to be inconsistent with their stated desire to increase competition at the point of sale,” the company writes. It says eBay represents less than 0.2 percent of its total network volume.
We’ve seen other disputes among retailers and credit card companies unfold in the past, with Amazon nearly dropping support for Visa in the UK in 2022.
Hmm.
For a long time in Canadian Costcos AMEX was the only credit card accepted then suddenly AMEX was dropped and only Mastercards are now accepted. I don’t know what American Costcos accept.
Been seeing signs at cash registers:No American Express......
eBay still exist?
American Express was also the only card accepted at American Costcos, but they were dropped due to high fees. Now only Visa is accepted.
eBay still exist?”
^
I just bought vintage car parts from eBay.
Business-ok with me.
Don’t Leave home with it.
Only card Ihave is Amex so shxt happens. Don’t use eBay much anymore anyway.
I live in small town America and the signs I see are 3% discount for cash.
Exists and great place to sell used golf clubs. I sold more than 100 clubs. Could never have sold those locally.
>I live in small town America and the signs I see are 3% discount for cash.
<
Next, no cash! Only CC. The Portillo’s here do CC only but they’re not cheap either.
Everything has its drawbacks. Grrr
AmEx was always about “the rich”.
All of us need to use Ca$h as much as possible.
With the end of Ca$h come the chains.
Hi
Yes, eBay still exists.
We used To buy many things there.
And sell too
But their fees went sky high.
(And they complain about Amex, whose fees are far far lower)
Plus, eBay now bans many legal commodities, items. So tgaf we can’t buy many things on eBay anymore.
And have to buy from other sites.
It is a shame, in that eBay had managed to upgrade the selling and make it pretty honest. They were heading in a good direction and then — kablooie
“the signs I see are 3% discount for cash.”
^
It’s been that way since credit cards started.
e-what? that site still there?
eBay just adopted a policy of nonpayment of your auction proceeds unless you give them your bank account number.
Four calls to customer service changed nothing despite offering to take their check, or transfer to my PayPal account.
24 year member, 100% positive doesn’t help.
Very stubborn people. Beware.
A sound business decision. Amex has always had a higher fee. If they want the PayPal business perhaps they will try to negotiate something closer to the other cards.
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