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Good
news for supermarkets and the ISOs who sell to them! American Express has
reduced the rate for the supermarket industry. The new discount rate
structure for EDC and three-day pay via ACH for SIC Code 5411 (supermarket
industry) is as follows:
Annual
Charge
EDC
Volume
Submission %
$0-19,999
3.25%
$20,000-499,999
2.3%
If you are an external agent
for AMEX, you can sell to supermarkets that are solely retail stores,
meaning they primarily sell food for home consumption. Supermarkets can
also be verified by Progressive Grocer’s Trade Dimensions.
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