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DEERFIELD, Ill. - Leading drug store chain Walgreen Co., based here, said it would no longer accept American Express' roughly 36 million credit cards because of the high service fees that merchants have to pay. The decision is effective on Jan. 14.
The retailer said it is not seeing significantly larger purchases from American Express cardholders that might offset the high fees.
An American Express spokesman said the company is disappointed with Walgreens' decision. "Although Walgreens represents an insignificant portion of our overall business, we are disappointed. We believe they should allow their customers to decide how they want to pay, rather than restricting their options," he said.
Walgreens said its decision affects all of its drug stores along with Walgreens.com, Walgreens Mail Service, Walgreens Home Care and Walgreens Specialty Pharmac