NEW YORK--(BUSINESS WIRE)--
American Express (NYSE: AXP) issued the following statement today
regarding a federal court's ruling in the U.S. Department of Justice
lawsuit:
"American Express is disappointed in the court's ruling, which we
believe will harm competition to the detriment of consumers and
merchants. American Express intends to appeal the court's ruling at the
appropriate time."
"American Express' Non-Discrimination Provisions protect Card Members
from anti-consumer practices, including at the checkout counter, such as
being told to pay with another card. Eliminating these protections would
inhibit consumers' choice to pay with their preferred payment method and
allow merchants who have agreed to honor our cards to then discriminate
against them when our Card Members choose to pay with American Express."
"Today's decision would harm competition by further entrenching the two
dominant payment networks, Visa and MasterCard. Only a small percentage
of Visa and MasterCard holders carry American Express cards. By
contrast, most American Express Card Members carry a competing card in
their wallet. Today's decision means merchants would be able to steer
customers to use Visa and MasterCard, while it would be virtually
impossible to steer away from them."
"We believe that freedom of choice and fair competition are worth
defending. We look forward to presenting our case to the appellate
court, and believe we should prevail on appeal."
About American Express
American Express is a global services company, providing customers with
access to products, insights and experiences that enrich lives and build
business success. Learn more at americanexpress.com
connect with us on facebook.com/americanexpress,
foursquare.com/americanexpress, linkedin.com/company/american-express,
twitter.com/americanexpress,
and youtube.com/americanexpress.
Key links to products and services: charge
and credit cards, business
credit cards, travel
services, gift
cards, prepaid
cards, merchant
services, business
travel, and corporate
card.
