{"id":2262634,"date":"2024-06-07T19:42:02","date_gmt":"2024-06-07T23:42:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/end-of-an-era-online-marketplace-to-drop-american-express\/"},"modified":"2024-06-07T19:48:05","modified_gmt":"2024-06-07T23:48:05","slug":"end-of-an-era-online-marketplace-to-drop-american-express","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/end-of-an-era-online-marketplace-to-drop-american-express\/","title":{"rendered":"End of an Era: Marketplace to Stop Accepting American Express"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fend-of-an-era-online-marketplace-to-drop-american-express%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2262634&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>One-time USD <span>$<\/span>5 <i><span>where it\u2064 is most\u200d needed<\/span><\/i><i><span>. Thank you.<\/span><\/i><\/p>\n<\/p><\/div>\n<p> <\/span><\/p>\n<p>The article discusses the recent announcement by online retailer eBay\u200c that they will no longer accept American Express credit cards for\u2063 purchases starting August 17. This\u2062 is due to \u200cthe high fees charged by American \u2064Express for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sorry-england-amazon-to-stop-accepting-visa-credit-cards-issued-in-uk\/\" title=\"Sorry England: Amazon to Stop Accepting Visa Credit Cards Issued in UK\">processing credit card transactions<\/a>. The \u200dmove has been met with disappointment by American \u200bExpress, who argue that their fees are\u200d comparable to other <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ebay-stirs-controversy-sparking-anger-from-sellers-forced-to-link-bank-account-after-move-away-from-paypal\/\" title=\"EBay Stirs Controversy, Sparking Anger From Sellers Forced To Link Bank Account After Move Away From PayPal\">card networks<\/a>. This decision\u200c is not unprecedented as other companies, such as Costco, have also dropped \u2062American\u2064 Express \u200din the \u200cpast. eBay&#8217;s\u200d decision \u200bmay signal a shift towards other\u2064 forms of payment, such \u200cas cryptocurrency, in the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/analyst-amazons-grocery-business-becoming-expensive-hobby-with-little-growth\/\" title=\"Analyst: Amazon's Grocery Business Becoming 'Expensive Hobby' with Little Growth\">online shopping industry<\/a>. The article also notes the importance\u2064 of supporting independent news media, like\u2063 The Western Journal,\u2062 in the face of increasing censorship and discrimination by big tech companies.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<header> <a href=\"https:\/\/www.westernjournal.com\/commentary\/\">  Commentary <\/a>   <span> <\/p>\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/aanton\/\">  <\/a> <\/p>\n<p> <span>   By <a href=\"https:\/\/www.westernjournal.com\/author\/aanton\/%20\"><span>Allison Anton<\/span><\/a> <\/span> <span>   June 7, 2024 at 2:14pm <\/span> <\/span>  <\/header>\n<section>\n<p>The pace of technology seems steady until it\u2019s not.<\/p>\n<p>Many businesses were taken aback by the computer revolution, and the explosion of online stores in the 2000s rocked many brick-and-mortar businesses to their core.<\/p>\n<p>And now, one of the world\u2019s largest \u2014 and oldest \u2014 online retailers has made an announcement that could mark the end of an era.<\/p>\n<p>The auction and e-commerce site eBay said in a <a href=\"https:\/\/www.ebayinc.com\/stories\/news\/neebay-to-discontinue-acceptance-of-american-express-payments-starting-august-17-2024\/\" target=\"_blank\" rel=\"noopener\">news release<\/a> on Wednesday that it no longer will accept American Express credit cards for purchases starting Aug. 17.<\/p>\n<p>The reason given was \u201cthe unacceptably high fees American Express charges for processing credit card transactions.\u201d<\/p>\n<p>\u201cAt a time when payment processing costs should be declining because of technological advancements, investments in fraud capabilities and customer protections by merchants like eBay, credit card transaction fees continue to rise unabated because of a lack of meaningful competition,\u201d the company said.<\/p>\n<p>\u201cAs consumers and small businesses are worried about inflation and rising costs, there is a need for more robust regulations to drive greater competition to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-cram-unrelated-spending-into-defense-bill\/\" title=\"Democrats Cram Unrelated Spending Into Defense Bill\">credit card networks<\/a> and help reduce transaction processing costs for merchants and their customers,\u201d it said.<\/p>\n<p>Considering the ease with which payments can be made using credit and debit cards as well as services such as Apple Pay, Google Pay and PayPal, <a href=\"https:\/\/www.westernjournal.com\/man-buys-shoebox-shaped-container-ebay-discovers-full-us-army-hiide-seek-devices\/\" target=\"_blank\" rel=\"noopener\">eBay<\/a> apparently reasoned that the hassle of dealing with AmEx\u2019s exorbitant processing fees was not worth the trouble.<\/p>\n<p>Not that the New York-based financial services giant hasn\u2019t pushed back.<\/p>\n<div id=\"firefly-poll-container\">\n<p>Do you use American Express?<\/p>\n<\/p><\/div>\n<p>In a <a href=\"https:\/\/www.americanexpress.com\/en-us\/newsroom\/articles\/company-statements\/american-express-statement-on-ebay-acceptance.html\" target=\"_blank\" rel=\"noopener\">statement<\/a> posted on its website on Wednesday, American Express said it was \u201cdisappointed\u201d by eBay\u2019s decision.<\/p>\n<p>The company said the move \u201cwill limit customers\u2019 payment choices and take away the service, security, and rewards that customers value when paying with American Express.\u201d<\/p>\n<p>\u201cWe find eBay\u2019s decision to drop American Express as a payment choice for consumers to be inconsistent with their stated desire to increase competition at the point of sale,\u201d it said.<\/p>\n<p>The company also said its research \u201ctells us that in the US the cost of acceptance for American Express is comparable to what eBay pays for similar cards on other networks.\u201d<\/p>\n<p>Perhaps, perhaps not \u2014 according to <a href=\"https:\/\/www.bankrate.com\/credit-cards\/business\/why-american-express-isnt-universally-accepted\/#:~:text=Visa%20and%20Mastercard%20tend%20to,2.5%20percent%20to%203.5%20percent.\" target=\"_blank\" rel=\"noopener\">Bankrate<\/a>, Visa and Mastercard charge merchants processing fees of 1.5 percent to 2.5 percent, while AmEx\u2019s are 2.5 to 3.5 percent.<\/p>\n<p>And eBay isn\u2019t the only company to drop American Express. <a href=\"https:\/\/apnews.com\/article\/ebay-american-express-payment-processing-merchant-fees-f04d01938e099b3d8043e91963426072\" target=\"_blank\" rel=\"noopener\">The Associated Press<\/a> noted that <a href=\"https:\/\/www.westernjournal.com\/bidens-wins-account-brutally-fact-checked-trying-pin-costcos-1-50-hot-dog-administration-lowering-costs\/\" target=\"_blank\" rel=\"noopener\">Costco<\/a> did so for the same reason nearly a decade ago.<\/p>\n<p>So this decision was not necessarily a seismic shift in the online payment industry.<\/p>\n<p>But it represents another step toward payments tailored especially for the online world.<\/p>\n<p>While eBay doesn\u2019t accept <a href=\"https:\/\/www.westernjournal.com\/largest-cryptocurrency-exchange-site-crashes-massive-surge\/\" target=\"_blank\" rel=\"noopener\">cryptocurrency<\/a> payments, reports in <a href=\"https:\/\/www.reuters.com\/technology\/ebay-ceo-says-looking-cryptocurrency-payment-option-cnbc-2021-05-03\/\" target=\"_blank\" rel=\"noopener\">2021<\/a> and <a href=\"https:\/\/finance.yahoo.com\/news\/ebay-could-soon-permit-bitcoin-223748215.html\" target=\"_blank\" rel=\"noopener\">2022<\/a> indicated it was a possibility that was under consideration.<\/p>\n<p>Either way, the companies that are most adaptable to new markets and technologies will be the ones that can compete the best as new technology continues to change how people shop.<\/p>\n<p><a href=\"https:\/\/www.westernjournal.com\/ap-american-express-posts-4q-profit-that-tops-forecasts\/\" target=\"_blank\" rel=\"noopener\">American Express<\/a> might be one of the oldest credit cards still on the market, but if it is unable to compete with the prices and perks of other payment systems, it might go the way of the traveler\u2019s check and physical newspaper.<\/p>\n<p>And the decision by <a href=\"https:\/\/www.westernjournal.com\/man-buys-outlaws-photo-ebay-10-jaw-drops-finds-worth-millions\/\" target=\"_blank\" rel=\"noopener\">eBay<\/a> could, possibly, close the door of one era (physical credit cards) and open the door to a new one (cheaper and quicker crypto-style payments).<\/p>\n<p>Who knows?<\/p>\n<p>Cryptocurrency might go the way of Betamax,\u00a0but that\u2019s the beauty of the free market.<\/p>\n<p>Any new technology has a chance if the company behind it is ready, willing and able to compete.<\/p>\n<hr>\n<div>\n<p><b><i>A Note from Our Deputy Managing Editor:<\/i><\/b><\/p>\n<p><i><span>I heard a chilling comment the other day: \u201cWe don\u2019t even know if an election will be held in 2024.\u201d <\/span><\/i><\/p>\n<p><i><span>That wasn\u2019t said by a conspiracy theorist or a doomsday prophet. No, former U.S. national security advisor Lt. Gen. Michael Flynn said that to the founder of The Western Journal, Floyd Brown.<\/span><\/i><\/p>\n<p><i><span>Gen. Flynn\u2019s warning means that the 2024 election is the most important election for every single living American. If we lose this one to the wealthy elites who hate us, hate God, and hate what America stands for, we can only assume that 248 years of American history and the values we hold dear to our hearts may soon vanish.<\/span><\/i><\/p>\n<p><i><span>The end game is here, and as Benjamin Franklin said, \u201cWe must all hang together, or assuredly we shall all hang separately.\u201d<\/span><\/i><\/p>\n<p><i><span>All of this means that <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>without you<\/span><\/i><\/a><i><span>, it\u2019s over. We have the platform, the journalists, and the experience to fight back hard, but Big Tech is strangling us through advertising blacklists, shadow bans, and algorithms. Did you know that we\u2019ve been blacklisted by 90% of advertisers? Without direct support from you, our readers, we can\u2019t continue the fight.<\/span><\/i><\/p>\n<p><i><span>Can we count on <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>your support<\/span><\/i><\/a><i><span>? It may not seem like much, but a <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Western Journal Membership<\/span><\/i><\/a><i><span>  can make all the difference in the world because when you support us directly, you cut Big Tech out of the picture. They lose control. <\/span><\/i><\/p>\n<p><i><span>A monthly Western Journal Membership costs less than one coffee and breakfast sandwich each month, and it gets you access to ALL of our content \u2014 news, commentary, and premium articles. You\u2019ll experience a radically reduced number of ads, and most importantly you will be vitally supporting the fight for America\u2019s soul in 2024.<\/span><\/i><\/p>\n<p><i><span>We are literally counting on you because without our members, The Western Journal would cease to exist. Will you <\/span><\/i><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>join us<\/span><\/i><\/a><i><span>  in the fight? <\/span><\/i><\/p>\n<p><i><span>Sincerely,<\/span><\/i><\/p>\n<p><i><span>Josh Manning<\/span><\/i><\/p>\n<p><i><span>Deputy Managing Editor<\/span><\/i><\/p>\n<p><i><span>The Western Journal<\/span><\/i><\/p>\n<\/p><\/div>\n<div id=\"author-info-45810\">\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/aanton\/\">  <\/a> <\/p>\n<div>\n<p><label for=\"summary-tab-radio-45810\">Summary<\/label><label for=\"posts-tab-radio-45810\">Recent<span> Posts<\/span><\/label><label for=\"contact-tab-radio-45810\" onclick=\"if( typeof grecaptcha=='undefined' ) { let cap_s=document.createElement( 'script' ); cap_s.src='https:\/\/www.google.com\/recaptcha\/api.js?render=6LeJFcsUAAAAAPsIEqvB1EebWbZfqRUe6ebMpGy7'; document.body.appendChild( cap_s ); }\">Contact<\/label><\/p>\n<div>\n<p>Allison Anton dabbles in fiction, as well as commenting on depressing modern trends and media. She calls the metro Atlanta area home, and when she\u2019s not writing, she\u2019s creating a loving home for her amazing husband.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Commentary by Allison Anton, June 7, 2024. Technology&#8217;s pace is deceptive, often appearing steady before a sudden shift. The computer revolution and the rise of online stores in the 2000s significantly disrupted traditional businesses. Now, a major, longstanding online entity faces similar upheaval<\/p>\n","protected":false},"author":2577,"featured_media":2262635,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/06\/American-Express-card.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-2262634","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/06\/American-Express-card.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2262634","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2577"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2262634"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2262634\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2262635"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2262634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2262634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2262634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}