Online marketplace eBay to drop American Express, citing fees

NEW YORK CITY, New York: eBay, the giant online marketplace, announced it will stop accepting American Express effective August 17 due to what it describes as "unacceptably high fees."

This decision marks a significant setback for American Express, known for its affluent customer base, but it is not unprecedented. Costco, a major warehouse chain, ceased accepting AmEx nearly a decade ago.

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