As a small business owner, accepting American Express as a method of payment opens the door to a larger customer base. In a recent announcement the industry leading credit card payment processing experts at North American Bancard announced a few changes they have worked with American Express to implement.
Less Paperwork
Merchants will now enjoy less paperwork, because they will now receive one statement for all of their credit card processing—instead of a separate one for AMEX too. This change will make billing much faster to accomplish.
Faster Funding
Merchants are used to receiving funds from all of their other credit card providers, and even PayPal, far before receiving their funds from American Express. However, now all credit card funds will be deposited at the same time.
More Effective Customer Service
In the past merchants would have to contact both North American Bancard and American Express if they had questions or concerns—however now all customer services calls will be handled by North American Bancard.
These changes will make processing AMEX much easier, and much more convenient for small business owners. All of these changes were effective as of July 1st.