Thanks Tom that’s good to know. I don’t usually make that many transactions over $100 but it would be nice to use on the occasional big ticket item.
Now the next issue is working out which stores accept AMEX without a surcharge.
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At Erwins link to the age article, there was a video using AMEX Applepay on an apple watch and an iPhone, and using the commonwealth bank app. Have to say the Apple watch looked the best experience, if only because the dude seemed less familiar with Touch ID on the phone. The commonwealth bank process looked a PITA.
I do wish that the banks would pull their fingers out and implement Apple Pay. I will actually go so far as to change banks if my own bank chooses to ‘do their own version’
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Actually I find where I live that it’s quite rare for smaller independent businesses (which is most cafes, restaurants, garages and general service industries) to offer AMEX.
We are charged 1.5% for Visa and Mastercard and if we took AMEX then we’d have to pay 2.5% but we don’t because we’d have to upgrade from the low volume EFTPOS terminal to the medium volume EFTPOS terminal which has a higher monthly rental (and because 95% of our work is invoiced it’s not worth the extra cost).
Where are you based? True, cafes don’t often take it but I guess I use cash in cafes generally. I haven’t been turned away with an Amex card at a restaurant for ages in Sydney, and petrol stations and supermarkets all take it around me. Maybe it’s just where I go, but it’s probably only 1 in 100 transactions I have to put on my Mastercard. I’m just back from Perth where it was a different story, surcharges on every card even if mastercard. Crazy.
You’re right that the fees depend on volumes, but most retailers (which I’m guessing you’re not if you invoice) would be able to achieve better than 2.5%. As an aside have you considered Tyro payments? Often cheaper than your business banking provided EFTPOS machine.
In a rural town of 8000 people, there are 5 servos (none take Amex), there are 2 supermarkets (neither take AMEX) and about 30 restaurants and cafes (few take AMEX), there’s no chain shopping centre, it’s all independent shops and few take AMEX (and those that do charge a surchage, generally 2.5%).
We’re a service industry (regional bus company) with 12 full time and 12 part time staff. 90% of our income is government contracts (Recipient Created Tax invoices), 9%+ is invoiced to groups or companies and of that less than 1% is paid over the counter (mostly for bus passes and most of those are bought off the drivers). The rest of the 9% is paid by cheque, cash or internet bank transfer.
The issue isn’t the volume of ‘sales’ we have, it’s that most of our customers pay by other methods. I haven’t heard of TYRO before this but we’re currently under contract, still have 12 months before that’s finished.
Yeah you definitely could get by without a physical terminal. When you take into account the monthly cost to have it compared with how much you use it, something like Tyro, Integrapay or Stripe would handle things perfectly and you’d come out in front. Definitely something to earmark for when your contract is up.
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Of course! Mr Bank only cares what you’re able to pump through his machine! 
I can imagine the Amex acceptance rate is lower in a rural town, unfortunately they have you over a barrel.
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Hey all, got my AMEX card a couple of weeks ago. What I personally find is that there are plenty of places I go that take AMEX but don’t have the readers to accept Apple Pay so I keep getting scan errors.
I had one funny experience in a restaurant where the guy says ‘oh we take Amex but Apple Pay won’t work here’ at which I just put my phone over his reader, it beeped and the payment went through and he’s just looking at it and gone ‘ohh um cool’. haha.
II just hope more places both take AMEX and have readers that can contact-lessly scan them.
Cheers, Glen
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i’ve only had the 1 taxi not be able to scan. loving the convenience - i find it works heaps better than paywave/paypass in response time from the terminal
Tried using an iPad with Applepay today. Feels weird pointing it at the terminal, but it works.
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