American Express has launched OptBlue, in an attempt to increase acceptance of American Express across Australia.
OptBlue, a new merchant acquiring program will see thousands of small merchants onboarded to the American Express Network through two of Australia’s leading merchant acquirers, Fiserv and Tyro Payments, who are first-to-market with the new program.
Stacey Rylands, Vice President of Merchant Acquisition for American Express Australia and New Zealand, said the launch of OptBlue in Australia is set to supercharge the scale of its merchant Network and once and for all help put an end to the question: ‘do you accept Amex?’ at the checkout.
“Enabling American Express Card Members to use their Cards in more places has been a top priority for some time and we have made incredible gains across industries and key locations.
“Not only is it a win for American Express Card Members, but for thousands of additional small businesses across the country set to benefit from Amex Card Members who on average, spend 3.4 times more annually than non-Card Members and 2.4 times more per purchase. At a time when small businesses are facing significant economic pressure, every high spending customer through their doors is a huge win.”
With OptBlue, small businesses will be able to process American Express transactions at a competitive rate to the other card schemes, with both acquirers providing a one-stop-shop servicing solution for all card types including a single statement and settlement process, plus a single onboarding journey and servicing contact.
OptBlue was first introduced in the U.S. before being implemented in Canada and Mexico, delivering successful merchant coverage growth for American Express in those markets. Today in the U.S. 99 per cent of places that accept credit cards can accept American Express.
“The massive strides that have been made to increase American Express acceptance has completely changed the experience for our customers. Now through OptBlue, a first for American Express outside of the Americas, it will be even easier for American Express Card Members to shop small and for businesses to see the benefit,” explained Rylands.
Gavin Jones, Fiserv General Manager, Australia, New Zealand and the Pacific, said their clients are always looking for ways to streamline their operations, and they are committed to enabling them to do so.
“Fiserv has a long-standing partnership with American Express to enable acceptance of Amex Cards around the globe, and the expansion of this partnership through the OptBlue program will provide our merchant clients a better way to accept Amex Card transactions. Merchants will benefit from access to funding, reporting and billing directly with Fiserv. As a result, merchants can get paid faster for their Amex transactions and simplify reconciliation, facilitating improved cash flow and simpler reporting.”