Paying suppliers by AMEX
Paying suppliers by AMEX
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Discussion

Hobo

Original Poster:

6,644 posts

276 months

Wednesday 5th February 2020
quotequote all
Not me as thankfully just a consultant these days, but have a client who wants to start paying his main suppliers (circa 50k per month) by his company AMEX card, so that he gets the points.

The suppliers in question do not accept AMEX, but I am sure I'd read somewhere that there are ways you pay an intermediatary (of sorts) who then in turn pay the supplier, no doubt with a charge involved.

Is this right, and if so who are these companies, websites, etc ????

Mr Overheads

2,632 posts

206 months

Wednesday 5th February 2020
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If suppliers accept paypal then you can set the Amex card as the default payment method in paypal. That works.

alabbasi

3,241 posts

117 months

Wednesday 5th February 2020
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AMEX tends to charge higher fees than other credit card companies so some people prefer not to use them. Everybody that accepts credit cards goes through a payment processor. If the business is worth 50k/month to me, I'd figure out how to get paid via Amex.

whoami

13,201 posts

270 months

Wednesday 5th February 2020
quotequote all
Hobo said:
Not me as thankfully just a consultant these days, but have a client who wants to start paying his main suppliers (circa 50k per month) by his company AMEX card, so that he gets the points.

The suppliers in question do not accept AMEX, but I am sure I'd read somewhere that there are ways you pay an intermediatary (of sorts) who then in turn pay the supplier, no doubt with a charge involved.

Is this right, and if so who are these companies, websites, etc ????
Billhop.com 2.95%

anonymous-user

84 months

Wednesday 5th February 2020
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The typical value of Amex points is less than 1p per point. I suspect the client therefore won't pay a surcharge for making the payment via his Amex card.

More likely he will be expecting/hoping the supplier to absorb it. Processing the payment on an Amex card will cost the supplier around 2% of the value.

anonymous-user

84 months

Wednesday 5th February 2020
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Www.brex.com is trying to make inroads into this market as a MasterCard

Not sure if it will make it to uk


cheekymeerkat

155 posts

111 months

Thursday 6th February 2020
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As suggested, there are only two options

1) The supplier needs to accept PayPal
2) Use the Amex supplier payment scheme, BUT Amex will charge the cardholder 2.5% for the privilege of crediting your suppliers bank account funded by your Amex charge card.

Insurancejon

4,096 posts

276 months

Saturday 8th February 2020
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once you open a business amex account they offer invoice factoring. i.e you tell them who your suppliers are and they pay them day 1 in return for a 2-3 % discount, amd you pay your card statement as normal

its like reverse invoice factoring ….and yes you get the points

if you want a business card referral just pm me