Largest US Drugstore to stop accepting American Express cards

Thursday 16 December 2004 11:47 CET | News

Walgreen Co., the countrys largest drugstore chain by sales, will stop accepting American Express cards because the service fees are higher than other cards.

Although American Express hasnt raised its rates since Walgreens stores began accepting the card chainwide in 1996, the retailer said it is not seeing significantly larger purchases from American Express cardholders that might offset the high fees. The decision is effective Jan 14. The Deerfield-based chain will continue to accept Visa, MasterCard and Discover cards at all locations. Walgreens had sales of $37.5 billion in the fiscal year that ended in August.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce