American Express policies surrounding credit card processing fees have drained countless businesses financially. This ongoing situation concerns the rights of merchants who have, for years, shouldered the burden of American Express regulations that restrict their ability to surcharge customers for using higher-fee cards or to promote more cost-effective payment methods. These limitations have led to inflated credit card processing fees, resulting in significant financial losses for business owners, potentially amounting to tens of thousands of dollars. At The Lake Law Firm, we’re committed to helping businesses regain the financial ground they’ve lost due to American Express’s potentially anti-competitive rules.
Are you the owner of a business that accepts American Express (AMEX)? You may have lost money because of American Express surcharge rules. Call (888) 525-3529 today to reclaim what’s rightfully yours. Our experienced legal team is here to help you recover your hard-earned funds.
American Express has imposed strict rules that obstruct businesses’ ability to navigate credit card processing fees. Firstly, American Express prohibits businesses from surcharging customers who opt for more expensive credit card options. For example, when a customer chooses a high-fee card, businesses are left shouldering the additional processing costs.
Furthermore, American Express curtails a business’s capacity to influence customers toward using payment methods with lower processing fees. This restriction denies businesses the opportunity to inform their customers about more cost-effective alternatives, such as debit cards or other business-friendly payment methods. Overall, these rules have allegedly tied the hands of businesses, preventing them from taking measures to reduce their credit card processing expenses.
For many small to medium-sized business owners, the cumulative effect amounts to substantial financial losses, possibly reaching tens of thousands of dollars over time.
You may qualify for AMEX merchant fees mass arbitration if you’re a business owner who accepts American Express and other credit cards. The Lake Law Firm can initiate mediation or arbitration on your behalf. You could recover potentially thousands of dollars due to AMEX’s potentially anti-competitive rules.
We begin the process by engaging in mediation. Mediation involves working to find a resolution through discussions and negotiations.
However, we will pursue individual arbitration if mediation does not produce a fair settlement. In this process, arbitration is a form of alternative dispute resolution through which two parties resolve a disagreement outside of court before a third-party arbitrator instead of a judge or jury. American Express’s Arbitration Agreement with merchants requires that disputes first go through mediation and then, if unsuccessful, proceed to arbitration.
It’s important to note that results may vary depending on the specifics of your business. The volume of credit card transactions and the extent of the financial impact can influence how much you could recover.
We cannot provide an exact figure. However, we believe most merchants, particularly those with millions in annual credit card sales, could receive tens of thousands of dollars back even after accounting for attorneys’ fees and costs.
No, the situation surrounding AMEX merchant fees is mass arbitration, which differs from filing a lawsuit. Like a class action lawsuit, mass arbitration allows a large group of individuals with similar complaints to seek compensation and justice against a company. However, they resolve their disputes together outside of a courtroom.
It costs nothing to sign up! We will only get paid if we recover money on your behalf. This payment would come as a percentage of your award. If we don’t win your claim, you owe nothing.
Pursuing justice holds American Express accountable for its actions. Taking a stand also sends a clear message that businesses have the right to fair and transparent dealings. Your participation is not just about reclaiming what’s rightfully yours but also helps to foster a fair and competitive business environment that benefits all.
Call (888) 525-3529 today if you are a business owner affected by AMEX’s grossly inflated credit card processing fees.
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