american express merchant account

American Express (Amex) is a globally recognised name with over 100 years of history in financial services. Millions of Amex card transactions are processed on a daily basis, making the company the largest card issuer in terms of purchase volume.

American Express offers flexible solutions to specific business needs, and has a team of consultants on hand to answer any queries from customers. American Express also offer a digital management system for Merchant Accounts known as OMS, short for Online Merchant Services.

This article will look at:


Background

American Express was founded in 1850 by Henry Wells, William G. Fargo and John Butterfield and quickly became a successful express delivery service. Its iconic logo, the Centurion, was introduced in 1958 when the company issued its first card charge.

Today, American Express is a world leader in charge and credit cards provision. Apart from this, its travel agency is the largest in the world, catering mostly to businesses.

The estimated worth of the brand is almost US$15 billion.


What’s on Offer with an American Express Merchant Account?

American Express offers merchant services to small and large businesses alike. Fees vary according to industry and will be explained and discussed thoroughly with prospective clients.

My Merchant Account/Online Merchant Services

All merchant account holders are entitled to this service. It gives them secure access to their accounts, helping them keep track of all transactions and payments as well as manage disputes.

Multi-Currency Processing

This service is ideal for merchants who do business in other countries and allows them to reach Amex card members in more than 170 countries. Customers can pay in their preferred currency and merchants then get paid by Amex in one of three ways.

American Express Payment Gateway

The Amex Payment Gateway offers businesses a highly secure and easy-to-manage e-commerce solution. Its software development kit is flexible enough to suit most online shopping platforms. Customer support is available in English, French and Spanish 24 hours a day, 7 days a week.

There are three pricing plans available for this service.

Number of Monthly TransactionsMonthly FeePer Transaction Fee
100£15£0.12
350£25£0.10
800£40£0.07

AN AMEX MERCHANT ACCOUNT SAVES YOUR BUSINESS TIME & MONEY

Business Benefits of an American Express Merchant Account

benefits of american express merchant accountRegardless of whether you are a small, growing business or a larger and more established one, the business benefits of an American Express Merchant Account can impact companies of any size. They include:

  • Maximum flexibility – AMEX’s OMS give your business more control and more flexibility, which helps you to grow and develop at a speed that is right for you.
  • Reliable tools – Take advantage of handy tools to help resolve any issues with Payments, Disputes and Account Management. Intuitive and easy to use, these tools will streamline the way you work and help you save time and money.
  • Transparent cash tracking – The Payments tool gives you an overview of the last 12 months, so you can review submissions, pending payments, cash flow, e-statements and more from a single interface.
  • Minimise disputes – The disputes tool lets you automate alerts for important or new enquiries, manage multiple cases at one time and stay on top of electronic documentation. You’ll also reduce no-reply chargebacks, which further saves time and money for your business.
  • 24/7 account management – An American Express Merchant Account can be accessed 24 hours a day for maximum convenience. Update your information and manage your account when and how you want.
  • Anytime support – American Express offer some of the best support in the industry and if the need arises, you can contact them any time via email or their dedicated Secure Message Centre.

American Express Merchant Account Security

An American Express Merchant Account is one of the safest around, but regardless of this it is always best practice to try and protect your business and customers as best you can. Why? Well, better security can improve relationships and profitability, while also preventing any damage to your brand and reputation.

The following should increase your peace of mind:

  • American Express have a dedicated Data Security Operating Policy that works with Merchant Account holders to establish the most resilient security measures for your business operations.
  • AMEx is a founding member of the PCI Security Standards Council, which is continually refining the standards of card security measures.
  • Businesses have to agree to the American express Data Security Operating Policy when signing up to a Merchant Account. This helps the bank work in tandem with business leaders to ensure shopping safety for consumers.

For merchant’s who want to find out more, BMA recommends reading American Express’ fraud, charges and dispute policy,


Summary

The main benefit of signing up for an American Express merchant account is that it allows you to reach the company’s millions of card members all over the world. Two thirds of American Express card holders reported that they would choose a merchant that accepts American Express cards over one that does not. Keep in mind as well that Amex card members have more spending power compared to other card members. Tapping into this market can be very beneficial to your business.

American Express provides support for its merchant account holders by giving them free point-of-purchase signage to let customers know they accept Amex cards. It also has a programme called Selects which helps retail, travel and entertainment merchants attract Amex card members through discounts and other offers.

Customer support is available six days a week during office hours and bank holidays to merchants. Those who are using the Payment Gateway service have access to customer services 24/7.

Disclaimer: All prices stated in this article are true at the time of publication.


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