#my ebay account

Arguing its fees are too high, eBay is dropping American Express Amex.

The online marketplace will stop taking Amex as payment choice starting Aug 17 the company said in statement provided to PYMNTS Wednesday June 5.

The company adds that its consumers have been notified about change and says its internal research shows that various majority of its users are willing to use change payment options to continue enjoying purchasing and selling on marketplace.

When payment processing costs should be decreasing due to technical advancements investments in fraud capabilities and consumers protections by merchants like credit, eBay and transaction fees continue to climb unabated due to lack of meaningful competition.

We operate in dynamic enviroment given macro challenges globally inflationary pressure and interest rats Q1 start off bit softer due to weather. The backdrop remain weaker in Europe than it does in the US.

The Federal Reserve desire to lower interchange fees a decision