Who is American Express biggest competitor?
Mastercard, Visa, and Discover are top rivals of American Express.
Why do so many places not accept American Express?
The different fees often make or break a deal for a merchant. This is why many merchants, especially small businesses, don’t accept American Express. American Express’ interchange fee is just too high. Providers like Visa and Mastercard charge between 1.15% and 2.5%, while Amex charges merchants between 1.43% and 3.3%.
Why is American Express unique?
Credit card giant American Express Company (AXP -3.82%) is unique in the sense that it makes money from both the credit card side of the business, which includes things like interest income and annual card fees, as well as from the payment processing side.