That's a question retailers have been asking themselves since American Express issued its first credit card in the 1950's. CCA Sports Retail Services is decidedly Pro-AMEX, and here's why:
1. American Express creates many opportunities to build your business.
By accepting AMEX, your business can capitalize on card members that are loyal, proven spenders. These customers are accustomed to putting purchases (especially larger ones) on their AMEX cards to receive the points/rewards that they offer.
2. AMEX is popular among an affluent clientele.
In fact, the average transaction for American Express cards is around $150, while Visa’s is $50 (source- Forbes.com 3/13/2014). Most AMEX customers are shopping primarily with plastic, and in stores that gladly accept their preferred credit card. If you don't offer AMEX, will that customer pay with another card? Most likely, for that purchase. But you may have put yourself on a loyal cardholder's mental list of stores that don't accept AMEX, running the risk of this customer never returning again.
3. AMEX supports local businesses through its Shop Small program.
With Shop Small and Small Business Saturday, AMEX has literally created a movement encouraging people to shop at small businesses, which millions of customers have embraced nationwide.
We know what you're thinking - "That's all well and good, but I'm the one who still has to pay the higher transaction fee that eats into my margins." But what if you didn't have to pay the rate that you're currently paying for AMEX, which if you're like most active lifestyle retailers, is anywhere from around 3% or highher? What if we told you that you would pay just 2.45% for AMEX? With our group volume, 2.45% is the rate that members of CCA Sports Retail Services pay for American Express.
To put that in perspective, many other credit card processing companies are charging an effective rate of well over 2% for Visa and MasterCard. Some of our own members did not accept AMEX prior to joining, but once they see what they will save at our rate of 2.45%, they quickly realize that they can't afford not to accept AMEX!
