Hope you’re well on this chilly winter’s day.
We just wanted to let you know that we’re having to make some important changes to your Collins Pay transaction fees.
The Collins Pay transaction fee for American Express cards will be increasing, because the cost to us to provide this service has also increased.
- This new rate will take effect from Thursday 9th December 2021.
- The rate for Amex cards will change from 2.9% to 3.28%.
- As an example, this change would cost you an extra 38p for a transaction worth £100.
More You Need To Know
Amex is responsible for only 5% of total transactions made through Collins Pay, this means 95% of transaction fees remain unchanged & the flat 15p per transaction fee will remain the same. You can see the volume of American Express transactions for your organisation using the card brand column on the Collins Pay Payments report.
You do have the option to deactivate Amex cards through Collins Pay, you can do this at any time by contacting our support team, your CSM, or your account manager.
If you would like to deactivate Amex cards before the rate change on Thursday 9th December, please complete this form by 5pm Wednesday 8th December 2021.
Love, Team Collins x