American Express CFO Dan Henry says the impact of the recent swipe fee settlement on payment network performance will be moderated by two significant factors, according to American Banker.
For one, roughly 50 percent of Amex’s billing volume comes from the 10 states where surcharging is illegal, including New York and California, according to Henry. Second, Henry doesn’t expect many merchants to surcharge even in states where the practice is legal, because the policy is “not consumer friendly.”
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