Originally Posted by
TheChallenge
I'd say this might be an indication Amex is eating a 3.95 charge for every reload done at Wally World, and for some reason the systems had an error in passing that onto the consumer. Just a guess.
I'm guessing it's a pretty bad guess.
AmEx published reports indicate that they are moving ~$1.5billion through Serve/BB per quarter. So that's $6B a year. Assume half of that is done with debit cards. That's $3B. Assume that's done with $500 per swipe. That's 6million swipes. At $3.95 per swipe that's $23.7MM loss.
Ain't happening.