eBay To Drop American Express Over Fees

Online marketplace behemoth eBay said it plans to no longer accept American Express, citing what the company says are 'unacceptably high fees.' CNBC: It's a notable blow to American Express, whose customers are often the most attractive among merchants and spend the most money per month on their cards. But it's not the first time merchants have voiced opposition to AmEx's business practices by walking away, most notably the warehouse chain Costco nearly a decade ago.

Overland said that eBay customers have become aware of new ways to pay for items, making payments more competitive than ever before, and AmEx was no longer a necessary partner for eBay. eBay has increasingly been offering customers buy now, pay later options on purchases through Apple Pay, PayPal and other companies like Klarna and Affirm as well.

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