Amex Fights To Discourage DefectorsLeah Nathans Spiro
In mid-April, executives at U-Haul International Inc., the Reno (Nev.) vehicle rental company, read about a group of Boston restaurants that staged a modern-day version of the Boston Tea Party. The eateries threatened to boycott American Express Co. cards and complained that the merchant fees it collects every time a diner charges a meal were too high. AmEx responded by shaving off half a percentage point from its 3.25% fee to larger restaurants that file their charge records electronically.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Stocks Slide From Records as Anxiety Bubbles Up: Markets Wrap
- Smartphones Are Killing Americans, But Nobody’s Counting
- Turns Out It Will Be Congress’s Fault When Stocks Crash
- Why a Pub in the Middle of Nowhere Was Named the World’s Best Restaurant
- Facebook and Google Helped Anti-Refugee Campaign in Swing States