disclosed to third parties without the express prior written consent of American Express. Visit Our Newsroom . Click below to view the announcements from each business. Based on the Feb 2020 Nilson Report. To qualify for the lower priced OptBlue program, a business must process less than $1 million dollars in AMEX credit cards annually. These card companies include Visa, Mastercard, AMEX, Discover. April 2020 Interchange Changes – Dates Have Been Extended ... in addition to some specific interchange rate increases. So the credit card fees are typically higher for American Express cards. 0000001958 00000 n 21 0 obj <> endobj xref 21 55 0000000016 00000 n The current rate is 2.30% + $0.10 per transaction. American Express OptBlue Retail Rate Grid. With the OptBlue program, American Express provides standard “wholesale” (interchange) rates to processors, similar to Visa or Mastercard. We're now excited to be introducing Opt-Blue to Canadian merchants at the end of October 2016! Unlike other card brands and B2B merchant accounts, American Express interchange rates increase with ticket or transaction size. 0000037893 00000 n American Express Interchange Rates. disclosed to third parties without the express prior written consent of American Express. Understanding American Express Interchange Rates Interchange fees, and American Express interchange fees, in particular, are somewhat of a mystery to many merchants. Visa sent a document that outlined the proposal to banks. American Express is trying to shed its “expensive” reputation with its OptBlue program. Unlike Visa and MasterCard interchange fees, American Express discount rates have relatively few qualification factors. Wind River is … This program should lower the American Express processing cost for thousands of ecommerce, retail, and other merchants in the U.S. You could possibly save money on charge card charges by registering for the American Express OptBlue program (also it’s not difficult to do). What is Amex OptBlue? The commercial electronic interchange program from Discover is also being modified. If you already accept American Express — but process less than $1 million in transactions — joining OptBlue may help to reduce your processing fees. Pros and cons of American Express OptBlue 0000014262 00000 n American Express Payment Processing Options for Businesses. American Express: Amex is increasing their Network Access fee for all merchants that process on their OptBlue program, from 0.15% to 0.16% on all processing volume. However, American Express (Amex) is a closed loop system, with many smaller merchants getting priced out of the relatively high rates that American Express charges. 0000037447 00000 n Current US Interchange Rates The term “Interchange rate” refers to the fees charged by the card companies for use of their cards. Supported Payment Gateways And Point Of Sale, American Express OptBlue Wholesale Discount Rates, Here, customer service is king... (so is agent service), AMEX NETWORK FEES (Applies to all transactions), AMEX INTL CROSS BORDER FEE (Applies to all international transactions), AMEX KEYED FEE (Applies to all manually keyed transactions). With American Express OptBlue, the rates are set by the third-party provider. This program offers what is referred to as a “wholesale” pricing agreement to smaller merchants (merchants processing less than $1 million annually). Customers using Amex tend to make larger purchases, with many Amex cards being used for business and corporate purchases. Visit Our Newsroom . Customers using Amex tend to make larger purchases, with many Amex cards being used for business and corporate purchases. 0000053873 00000 n American Express discount rates are based largely on a business’s merchant category code (MCC). Payment Processing But because with everything else within the payments space, it’s imperative that you know how the agreement works and just what you’ll really be having to pay to simply accept American stock exchange cards. American Express OptBlue is introducing a Tier 4 for both Restaurant and Services/Professional Services interchange programs. 2 Merchant Operating Guide - U.S. Introduction::About American Express 1.1 About American Express American Express was established more than 160 years ago and has … 0000057788 00000 n American Express Interchange Rates. Gift & Loyalty Cards, ISO/Agent Program However, thanks to the OptBlue program, since 2014 American Express has offered a viable way for small businesses to accept Amex cards. 0000002872 00000 n American Express OptBlue American Express made revisions to the Merchant Exclusion List globally. Note: American Express acts as both the card issuer and the card network. Because the rates were so high, many businesses chose not to accept American Express cards – leading to the new more afordable OptBlue pricing for small businesses. ... ESA and OptBlue®. Effective July 2020, the Card Networks are making several modifications to the interchange pricing structures which will be passed through to the overall effective merchant processing rates.The timing of this follows their standard pricing updates of Spring and Fall each year. ... Additional Visa, Mastercard, and American Express enhancements coming July 2020. Get a Call Back. Seamless integration with Visa, MasterCard, and Discover infrastructure. Wind River is carefully tracking the timing of additional changes. Helcim has been offering American Express Opt-Blue to US merchants since 2014. Low transaction rates. Beyond the cost savings, businesses can aquire OptBlue processing through the same payment processing company that supplies their Visa and MasterCard processing bringing all of the merchants services together in one place with one easy to understand statement at the end of the month. 0000013876 00000 n 0000002448 00000 n 3. View the list of participating providers here. American Express is increasing the General Assessment fee from 0.15% to 0.16% and the Inbound fee from 0.40% to 1.00%. h�b``0f``[����8��01���$ac(f`�d�g^ĸ�فケ���7)�>� Accepting American Express Payments. Effective April 2019, American Express will change several Industry Pricing Categories and associated interchange tiers and rates for their OptBlue program. By accepting Amex, your customers can … Standard Amex OptBlue® wholesale discount rates apply. Wind River Financial has studied the announced changes and summarized below those that we believe to have the most significant impact on merchant clients. American Express announced the news in January 2020 in its Q4 2019 earnings release. There is a way to save money on processing American Express credit cards - it's called OptBlue pricing. MCC 6513 is now under the Services Industry Pricing Category. Bonsai Point of Sale 0000104672 00000 n Many American express cards are used by businesses and corporations and are usually used for larger transactions. :cp���` ����� �`O��UY��qu�9�|A\���C�m���x!Jg���!�~�!��U�݃�bc'[8~���g8Fu�>[�J����7K�j��������LT� Interchange Plus Pricing for American Express. Customers using Amex tend to make larger purchases, with many Amex cards used for business and corporate purchases. American Express Fee Changes Effective April 2020 Customers using Amex tend to make larger purchases, with many Amex cards used for business and corporate purchases. 0000029030 00000 n American Express OptBlue® Program Open your doors to a loyal new group of consumer, small business and. 0000027802 00000 n Payment processing companies make money by putting a markup on top… 0000054139 00000 n Photo Stream. April 2020 Interchange Changes ... in addition to some specific interchange rate increases. If your business is not eligible for OptBlue, please apply to accept American Express Cards directly with American Express. ESA is American Express’ direct processing program, which means your account and transaction settlement is directly managed by American Express. The 2014 introduction of the Amex OptBlue program by American Express (“AMEX”) was promoted primarily as an affordable way to facilitate the acceptance of AMEX cards within small businesses. Before OptBlue, small businesses had much higher processing fees for Amex cards. 0000054409 00000 n High-risk merchant services provided through Electronic Merchant Systems (EMS). Let’s explore the bare bones facts about what Amex OptBlue has to offer merchants, including its benefits, rates, who is eligible, and how to take advantage of OptBlue without falling prey to hollow marketing strategies. Rolled out in 2015, OptBlue replaced American Express One Point. In “American Express OptBlue Program May Reduce Processing Cost,” my article last month, I explained American Express’s new program called OptBlue. Referral Partners 0000054833 00000 n 0000011066 00000 n 2019-2020 U.S report has the biggest interchange structural changes that we believe to the. Only process Payments unlike with debit card interchange fees increasing April 2020 interchange changes – have... The current rate is interchange plus pricing on American Express is a registered ISO of Wells Fargo Bank,,. 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