American Express Gaining on Competitors
Jay Loomis reports for the Gannett News Service on market share gains by American Express over the last few years.
The average American Express cardholder spent $9,460 last year, according to Ryan Batchelor, a Morningstar analyst. That's several times more than the average annual spending of a Visa or MasterCard customer. These dynamics allow the company to charge merchants a fee of about 2.6 percent on purchases by these customers, compared to the 1.6 percent average fee charged by Visa and MasterCard, he said.
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