Ranging from $10,000 to nearly $500,000, American Express sign-on bonuses are part of an effort to close the gap of the 1.3 million more U.S. locations accepting Visa and Mastercard in 2018 than those accepting American Express, which is accepted in 10.3 million … By accepting Amex, your customers can pay in … American Express OptBlue New Rate and Rule change for Service/Professional Services Interchange Program American Express OptBlue is introducing a Tier 4 for Services/Professional Services transactions that are greater than $3,000.00. Amex is a popular card used by customers around the world. American Express OptBlue Retail Rate Grid. Here’s what it means to say yes. 0000010663 00000 n American Express OptBlue is introducing a Tier 4 for both Restaurant and Services/Professional Services interchange programs. American Express Opt-Blue Wholesale Discount Rates. %PDF-1.4 %���� View the list of participating providers here. 0000037231 00000 n Sources: Visa USA Interchange Reimbursement Fees published on April 13, 2019, Mastercard 2019-2020 U.S. �Q̆v��,e. American Express: OptBlue. The processor can now offer interchange plus pricing on American Express merchant accounts, which provides better Amex rates. Customers using Amex tend to make larger purchases, with many Amex cards used for business and corporate purchases. However, thanks to the OptBlue program, since 2014 American Express has offered a viable way for small businesses to accept Amex cards. 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. But OptBlue was a game changer for American Express and Amex is now accepted at 99% of businesses that take credit cards. Current US Interchange Rates The term “Interchange rate” refers to the fees charged by the card companies for use of their cards. April 2020 Interchange Changes – Dates Have Been Extended ... in addition to some specific interchange rate increases. :cp���` ����� �`O��UY��qu�9�|A\���C�m���x!Jg���!�~�!��U�݃�bc'[8~���g8Fu�>[�J����7K�j��������LT� Although rates will vary by provider, they’ll almost always save small business owners money. Visit Our Newsroom . In the past, American Express® financed and processed each transaction — unlike Mastercard and Visa, which only process payments. Second, there is an additional 0.30% fee added on to any card not present transaction. trailer <<56FC26F5829343C899B349DFEB522DCC>]/Prev 131729/XRefStm 1649>> startxref 0 %%EOF 75 0 obj <>stream By accepting Amex, your customers can … Supporting American Express is likely to be more important if you sell higher value items or appeal to an affluent or tourist market. All Rights Reserved. Referral Partners In addition, they are modifying the rates and rules for Micro and Tiers 1-3 under those same interchange programs. EMV Credit Card Machines American Express OptBlue Schedule Of Fees Description Transaction Amount Percent Per Item Restaurant Tier 1 ≤$25.00 1.85% $0.10 Restaurant Tier 2 $25.01 – $150.00 2.45% $0.10 Restaurant Tier 3 Over $150.00 2.75% $0.10 0000037447 00000 n �@X�����L30�EY��BD� �5&X endstream endobj 74 0 obj <>/Filter/FlateDecode/Index[5 16]/Length 20/Size 21/Type/XRef/W[1 1 1]>>stream Wind River is carefully tracking the timing of additional changes. Call 855-894-6570. 0000086899 00000 n But OptBlue was a game changer for American Express and Amex is now accepted at 99% of businesses that take credit cards. 0000014169 00000 n The report has the biggest interchange structural changes that we’ve seen in a decade. If you are selling a product that costs several hundred dollars, a single lost sale will have a bigger impact on your profits than the higher interchange fees. 0000010025 00000 n 0000086647 00000 n 21 0 obj <> endobj xref 21 55 0000000016 00000 n In “American Express OptBlue Program May Reduce Processing Cost,” my article last month, I explained American Express’s new program called OptBlue. Understanding American Express Interchange Rates Interchange fees, and American Express interchange fees, in particular, are somewhat of a mystery to many merchants. 0000013989 00000 n Unlike the old days where you needed to work with American Express directly (and pay high fees! June 18, 2020. Before OptBlue, small businesses had much higher processing fees for Amex cards. Pros and cons of American Express OptBlue American Express OptBlue® Merchants who process less than $1,000,000 per year in American Express transactions may be eligible for the American Express OptBlue® program. 0000073770 00000 n � )X���>-�.+U4����?���!�J7䢬xѠ���1� ��j�J4w����I�#�Oc4y�]H��@��ᨸ��9�Y��,n~�u��uÀO��uZ[j�M� (�q�P��D��߬ �Kj�w�8rd��� �8~TB�� ��S 5�Q�S$�68�0�H�/�Y���%�%�]K�O�v��#�v�P�N�n1]� 7�24��9Cm.N�%��! To keep up with Visa and Mastercard, American Express is offering sign-on bonuses to companies to offset start-up costs. Your business can accept Amex credit cards under the same pricing structure as Visa, Mastercard , and Discover. Terms of Service. However, there is a new pricing model - called OptBlue - that brings the fees closer in line with Visa and Mastercard. in American Express transactions. The OptBlue program allows the merchant account provider to set the rates and fees merchants pay, … Wind River is … Customers using Amex tend to make larger purchases, with many Amex cards being used for business and corporate purchases. Receive low American Express ® rates while streamlining your merchant account. Fee Program Rules New rate AM Service/Prof Serv Tier 4 Transaction amount >$3,000.00 2.40% + $0.10 99% of places that accept credit cards in the U.S. can now accept American Express, the latest Nilson Report confirms. Low transaction rates. Merchant Cash Advance American Express is trying to shed its “expensive” reputation with its OptBlue program. 566 RTLNS1 Retail Transaction Amount 1 (<$75.00) Non Swiped 1.90% + $0.10 N 567 RTLNS2 Retail Transaction Amount 2 ($75.01 - $1,000.00) Non Swiped 2.25% + $0.10 N 568 RTLNS3 Retail Transaction Amount 3 (>$1000.00) Non Swiped 2.70% + $0.10 N Your processor will set your rate for accepting AMX by adding its own markup to the interchange and assessment fees, just like it does with Visa and Mastercard. 0000037893 00000 n Amex OptBlue is a processing option released by American Express in 2014. 0000006732 00000 n American Express Optblue® Program: It is time to let American Express® Cards into your business. However, thanks to the OptBlue program, since 2014 American Express has offered a viable way for small businesses to accept Amex cards. The new OptBlue pricing model allows for your American Express discount rate and transaction fees to be reduced quite significantly. Payment processing companies make money by putting a markup on top… OptBlue rates are shown below but there are a few additional fees you should be aware of. It should be noted that these fees are not exorbitant and are pretty much the same as the same fees applied by Visa and MasterCard. 0000073503 00000 n Standard Amex OptBlue® wholesale discount rates apply. 0000001958 00000 n In “American Express OptBlue Program May Reduce Processing Cost,” my article last month, I explained American Express’s new program called OptBlue. 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. It has recently cut rates through a new program for qualified merchants, which we discuss in more detail below. As a result, a portion of the rate that we charge you will depend on the type of transaction and the pricing level at which the transaction is processed. Amex Interchange Rates With OptBlue Agreements. American Express OptBlue is modifying the rates for the Business to Business industry program as well as modifying the rates and volume tiers for the Restaurant and Services industry programs. Visit Our Newsroom . Interchange rates change twice a year – in April and October. Almost always save small business and corporate purchases also being modified, deposit service! Cards are used by customers around the world add a markup on top of base. Through a new program for qualified merchants, which we discuss in detail... We discuss in more detail below businesses had much higher processing fees for Amex used. And other merchants in the U.S consent of American Express cards directly with American Express card! 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