Why accepting American Express on your payment terminal is a smart choice
Many businesses accept Visa and Mastercard credit card payments on their payment terminals. However, American Express (AMEX) is often still not accepted. That's a missed opportunity, as you could be losing sales from customers who prefer to pay with their American Express card.
But... isn't it much more expensive?
A common misconception is that accepting American Express comes with significantly higher transaction fees than other credit cards. That's not always the case. While many payment providers do charge higher rates for AMEX transactions, Buckaroo offers the same rates for American Express payments made via a payment terminal as for Visa and Mastercard. This means you don't have to choose between providing a great customer experience and keeping your costs under control.
Why do consumers choose American Express?
American Express cardholders are often highly loyal to their card. They earn rewards points and benefit from purchase protection. In addition, they enjoy exclusive perks such as special offers, access to exclusive events, presales, and more. As a result, they actively prefer to pay with their American Express card whenever possible.
Higher revenue per customer
For businesses and merchants, accepting American Express can lead to a higher average spend per customer. And with Buckaroo, transaction fees for AMEX payments on a payment terminal are the same as those for Visa and Mastercard.
3 key benefits of accepting American Express
- You reduce abandoned purchases at checkout
Customers prefer to pay with their preferred payment method. If someone wants to use their American Express card but can't, you could lose the sale. This is especially true for tourists, business travellers, and customers who actively use loyalty programmes. By accepting AMEX, you increase the likelihood of completing more sales. - You provide a better customer experience
Offering a wide range of payment methods creates a smoother checkout experience. Customers can pay the way they want without worrying whether their card will be accepted, reducing friction at the point of sale. - You appeal to more international customers
During the holiday season, many international visitors travel to the Netherlands. These customers are more likely to use credit cards than Dutch consumers. In some countries, credit cards are even the preferred payment method. American and Asian travellers in particular often choose American Express. By accepting AMEX, you make it easier for these customers to pay at your business.
