Originally Posted by
blaz
Right, but you can use Amex at restaurants, just not all of them. So really, Amex is loosing out on only a small percentage of potential revenue. Yet if they lower the interchange fees, they potentially loose a huge amount of revenue.
This is a short term loss for a long term gain. Something they should've done a long time ago. Amex needs more small business uptake to get rid of the perception that their cards are not accepted everywhere. Even I don't feel comfortable carrying just an Amex card, which is why I always carry Visa for backup. There a lot of people who just rather not use Amex at all and stick with Visa and MasterCard for convenience.