Warren Buffets “American Express” is even worse, customers are incentivised to use it as merchants are charged more fees and Amex share them with their customers in the form or rewards.
You are rewarded for reducing merchant income.
Discussion
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lololol, that is brutal.
Smart idea from Amex. But merchants still have the option to add a new payment option, and give discount on it, to move users to that new payment method, or?
True, but customers push to pay with Amex because they want the air miles so they can fly business class at the merchants expense.
I guess, you can either accept the defeat, pay your unfair share and move on. Or push also to a fairer payment method, using the tools you can.
Nothing is free.
Good things are especially expensive.
I spent many weeks convincing my wife to stop using her Amex to collect air miles.
I had to promise to buy a private jet come the next halving as compensation 😂