(Bloomberg) -- EBay Inc. will drop American Express Co. cards as a payment option because of “unacceptably high fees,” according to a statement from the online marketplace.Most Read from BloombergBlackRock, Citadel Back Texas Stock Exchange in Challenge to NYSES&P 500 Hits 25th Record This Year as Tech Soars: Markets WrapModi Vows to Retain Power Even as Party Loses India MajoritySEC Hedge Fund Fee Disclosure Rule Struck Down by US CourtModi’s Magic Is Fading Fast. Who’s Next for India?EBay on W
eBay customers will no longer be able to use American Express credit cards to pay for purchases on the popular online marketplace come mid-August, eBay said.
The change takes effect Aug. 18. Amex said eBay represents less than 0.2% of its total network volume.