Paying suppliers by AMEX

[Hobo]

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]

If suppliers accept paypal then you can set the Amex card as the default payment method in paypal. That works.

[alabbasi]

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]

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]

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]

Www.brex.com is trying to make inroads into this market as a MasterCard

Not sure if it will make it to uk

[cheekymeerkat]

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]

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