My merchant fees for Visa & MC are about 2.42% + $.25 per transaction + .3-.5% if the card is something that I can never figure out what is. These are considered low fees as a legit, stable business with a high average ticket ($4-500).

AMEX has just entered the market with a new product. A flat 2.95% with no additional fees. Will try it and see what the hidden surprises are. If no surprises, they will blow Visa/MC out of the water.