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A Thing Lower Amex Rates

Lower Amex Rate


     Good news for supermarkets and the ISOs who sell to them! American Express has reduced the rate for the supermarket industry. The new discount rate structure for EDC and three-day pay via ACH for SIC Code 5411 (supermarket industry) is as follows:

Annual Charge                        EDC

     Volume         Submission %

$0-19,999                        3.25%

$20,000-499,999                2.3%

    If you are an external agent for AMEX, you can sell to supermarkets that are solely retail stores, meaning they primarily sell food for home consumption. Supermarkets can also be verified by Progressive Grocerís Trade Dimensions.

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