@aot2009 wrote:
Interesting story.....I'm not sure if that will hurt AMEX in the long run or not only time will tell.
From the perspecitve of fellow business owner on the other side of the ledger, I too need to minimize the costs of my expenditures. For a small mom & pop shop, I don't think it matters whether or not AmEx is accepted.
Unless a large merchant, restaurant, or hotel takes AmEx, I will not use them for business or large personal expenditures. I need to spend "X" amount per year, and like the business owner, I'm seeking to maximize the value of dollars spent--which in this case would be on AmEx and it's MR rewards based system.
There's always two sides to every coin. As a merchant, you're tyring to maximize your profit. As a businessman, I'm trying to lower my cost. Thankfully, we have a free enterprise system. You can choose whatever payment you wish, and I can choose not to use your services. It all works out in the end.
Let's hope this misguided DOJ efforts to regulate AmEx's pricing of the market is defeated.
