Core Viewpoint - Increased merchant surcharges on American Express credit card purchases would negatively impact consumers, according to Amex's CEO Steve Squeri [1]. Group 1: Industry Context - The discussion around surcharges arose following a proposed lawsuit settlement by Visa and Mastercard with merchants, which could lead to more surcharging when premium cards are used [2]. - Visa and Mastercard's settlement involves ending the "honor all cards" rule, which previously required merchants to accept all cards from these networks, potentially leading to surcharges for premium credit cards [3][4]. Group 2: Company Position - Squeri emphasized that Amex aims to prevent discrimination against card members and views surcharging as detrimental to customer experience [5]. - American Express typically charges higher interchange fees, averaging between 1.43% to 3.3%, compared to Visa and Mastercard's average fees of 1.15% to 2.6% [5]. - The end of the "honor all cards" rule may not lead to merchants refusing expensive credit cards but could result in additional costs for customers using these cards at checkout [6]. Group 3: Potential Implications - The settlement could pose challenges for American Express due to its higher interchange fees compared to Visa and Mastercard, which may affect its competitive position in the market [7].