(Bloomberg) -- EBay Inc. will drop American Express Co. cards as a payment option because of “unacceptably high fees,” according to a statement from the online marketplace.Most Read from BloombergBillionaire-Friendly Modi Humbled by Indians Who Make $4 a DayA Struggling Business Park Deals a Blow to Singapore's Regional Hub AmbitionsNvidia Tops $3 Trillion in Market Value, Leapfrogging AppleS&P 500 Hits 25th Record This Year as Tech Soars: Markets WrapBlackRock, Citadel Back Texas Stock Exchange
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The change takes effect Aug. 18. Amex said eBay represents less than 0.2% of its total network volume.