This has indeed meant that rewards and cashback credit cards have largely disappeared (with the exception of Amex, which operates outside the interchange system?).
Rewards/cashback cards that do still exist are typically tied to specific retailers, with whom the issuing bank has cut their own deals.
With AMEX the merchant does know the exact fee structure and can therefore decide to accept or not to accept AMEX ahead of time. That's essentially the argument why the fees for AMEX were not capped.
Right, but try using Amex in Europe.
Outside of major international hotel chains, or where you can do your purchase online through Paypal, you may as well not bother asking if they accept it.
It's very interesting to hear that.
When I first started traveling to Europe, having an American Express card (or even better, AmEx travelers checks) was the best way for an American to pay for things. It's even written into some classic books and movies.
My how things have changed.
I would guess 90% of Europeans have never even seen one of these cards, unless they work in international hotels or tourist places.
That was one of the deciding factors when I was planning on getting a second credit card (so I'd have a backup while travelling).
I knew here in Australia they are not widely accepted, with only major retailers accepting it typically, but I thought that this was just Australia being backwards.
After spending the first two or three weeks trying to pay for things with it, I gave up except on checking into a new hotel.
And there is a lower % for normal/popular cards (Visa/Mastercard) and higher (even 4%) for Amex, so most stores just ignore it and remove the Amex symbol from their terminal.
And yet, my company provides Amex corporate card for bussiness travel, but we usually go to US, so Amex is more accepted there.
I'm not surprised supermarkets accept it. Does your local pizza takeaway, kiosk or bar accept it?
You could probably get by here with just an Amex card and cash, but I keep a backup card for the places that don't accept Amex.
Your neighbours (Norway and Denmark) were unwilling to accept it. I forget which supermarkets I tried it in in both of those countries, but three large chains all had their card terminals reject it and the staff looked at it like I'd tried to use a hotel keycard or something.