by Marketing Department November 25, 2013

Last Updated: November 5, 2020

American Express OnePoint

Let’s be honest. It’s great to receive points for using your American Express card, but as a merchant, you would almost rather accept food stamps. The rates for American Express are much higher than those of Visa and MasterCard. Unfortunately, there isn’t much that can be done to qualify American Express cards at lower rates, but there is one thing you can do: participate in the American Express OnePoint Program. Century Business Solutions is a proud participating processors that is able to offer the program to its clients.

American Express OnePoint Advantages

According to American Express: “American Express One Point (also referred to as American Express Full Service by First Data) is a program offered by American Express that makes it possible for participating processor to streamline the authorization, settlement and reporting of American Express processing volume.

The main advantages to American Express One Point are faster settlement of American Express transactions and reporting that is easier to reconcile. American Express One Point makes it possible for a processor to settle American Express processing volume along with Visa, MasterCard and Discover volume. Instead of receiving a separate, delayed deposit for American Express transactions, all credit card sales are sent in a single deposit in the time it takes to settle Visa and MasterCard volume. This means that American Express volume settles roughly one to four days faster through One Point than it does with a traditional American Express merchant account.

One Point also streamlines the reporting of American Express volume. Instead of receiving a separate statement for American Express transactions, One Point makes it possible for a processor to report the card volume and charges for Visa, MasterCard, Discover and American Express on a single monthly statement.”

So , the obvious advantage of the American Express OnePoint Program is twelve-hour processing on all major card types (Visa, MasterCard, Discover and American Express), which is a service that has never been available before now, and is a breakthrough in the payment services industry. While the technology that makes this possible is quite complex, the American Express OnePoint Program is very easy for the merchant to use. As long as the merchant batches out by 7:00 p.m., all of that day’s credit card transactions (Visa, MasterCard, Discover and American Express) are processed and that revenue is in their account the next morning. This is also known as 12-hour funding. This program is open to merchants who process less than $500,000.00 annually in American Express cards (estimated from prior years processing).

Another added benefit is a lower rate for B2B companies. Instead of paying the typical 3.5% mandated by American Express, you can qualify cards at 2.89%.

A Warning

Now, here’s our warning: some merchant processors will use this program as leverage to trap you into their services. They will tell you that there are a limited number of processors that can offer this program. The reality is, every merchant processing company can sign you up as long as they are a part of the First Data Acquiring Network. Don’t let a processor dupe you into paying higher discount rates in order to take advantage of the benefits provided under the American Express OnePoint program.

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