eBay To Drop American Express As Payment Option Citing 'Unacceptably High Fees'
Portfolio Pulse from Benzinga Neuro
eBay Inc. (NASDAQ:EBAY) will stop accepting American Express Co. (NYSE:AXP) cards from August 17 due to high fees. This decision follows unsuccessful negotiations over interchange fees. eBay faces challenges in the e-commerce market, while Amex has seen growth in card member spending.
June 05, 2024 | 10:37 am
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NEGATIVE IMPACT
American Express will no longer be accepted on eBay from August 17 due to high fees. Despite this, Amex has seen growth in card member spending, which may mitigate the impact.
While losing eBay as a merchant could negatively impact Amex, the company's growth in card member spending may help cushion the blow.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
eBay will stop accepting American Express cards from August 17 due to high fees. This decision comes as eBay faces challenges in the e-commerce market and a weaker-than-expected earnings outlook.
eBay's decision to stop accepting Amex cards could negatively impact its customer base and transaction volume, especially given its current market challenges and weaker earnings outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100