drron
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AmEx Accord With Merchants Allows Different Debit Charges - Bloomberg
AmEx Accord With Merchants Allows Different Debit Charges - Bloomberg
“The core relief is strikingly simple: American Express’s rules will be altered to permit merchants to impose a separate fee, or surcharge, on credit and charge card transactions” to steer consumers to less expensive debit cards, lawyers for Marcus said in a filing yesterday in Manhattan federal court.
Noting that the card firms generally only allow surcharges if cards of all brands can be treated equally, the lawyers said that the American Express settlement “unlocks the value of the rules changes that merchants have wrung” from other networks.
“While this litigation was directed at American Express, the relief contained in this settlement will empower merchants to surcharge Visa, MasterCard and Discover credit card transactions,” the lawyers said.