World News: 20:31 GMT Thursday 3rd July 2014. [Yahoo Business News Feed via SPi World News]
By Andrew Longstreth NEW YORK (Reuters) - American Express Co is set to face off against the U.S. government and 17 states in a trial that begins on Monday over claims that it stifles competition from credit card providers that charge lower processing fees. At issue in the trial, expected to last two to three months, are American Express rules that bar its millions of merchants from offering incentives for customers to use less-expensive credit cards or cash when making purchases. Amex, according to the government, charges the highest processing fees on average of any card network. Amex asserts that the rules protect customers from price discrimination and have helped promote competition, court papers show.
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