Online marketplace behemoth eBay said it plans to no longer accept American Express, citing what the company says are "unacceptably high fees" and that customers have other payment options to shop online.
It's a notable blow to American Express, whose customers are often the most attractive among merchants and spend the most money per month on their cards. But it's not the first time merchants have voiced opposition to AmEx's business practices by walking away, most notably the warehouse chain Costco nearly a decade ago.
"After careful consideration, eBay has decided to no longer accept American Express globally effective August 17 due to the unacceptably high fees American Express charges for processing credit card transactions," said eBay spokesman Scott Overland, in a statement.
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