What’s Amex to do? Match the discount fees being charged by the other banks via MasterCard/Visa.

Frankly, most high-income earners are not concerned about “goodies”; they simply want a card that is accepted everywhere, and that is a MasterCard or a Visa card, not an Amex …

Notwithstanding Walmart’s dislike of the credit card merchant discount fees that they pay their acquiring retail banker (probably <0.5% in the case of MasterCard/Visa transactions), what chance has Amex got given that the MasterCard/Visa discount fee is on average ~1% and the Amex fee is effectively ~1% higher at an average of ~2%?

Notwithstanding the snob appeal that an Amex cards used to offer its users—before Amex started licensing its Amex brand to the retail banks (now, even the unwashed masses can get an Amex card—ugh!), the reality is, merchant’s can now effectively halve that discount fee cost by preferring MasterCard/Visa.

And don’t forget that highway robber, the clunky PayPal, that charges their merchants an average discount fee even greater than that of Amex—LOL …

Frankly, Amex’s days have been numbered ever since the retail banks partnered with and started promoting their own “bankcard” brands. Amex has to now compete against every other bank in the world that is promoting MasterCard/Visa—or it’s “goodbye Amex” …

And with the all the other real banks now promoting “MasterPass” and “Visa Checkout” for all digital payments, ultimately, it’s goodbye to you too “PreyPal”—it’s certainly never been nice knowing you …

PS: MasterCard buy Amex? A nonsensical suggestion, of course. Maybe “PreyPal” could buy the Amex bank; then, the unscrupulous “PreyPal” prefers not to be regulated as real banks are regulated; they prefer to fly under the radar; that way they have a better chance of continuing to get away with the atrocious service that they provide so many SME merchants …