Bill

Bill > S92


NJ S92

Concerns certain fees for credit card usage during state of emergency.


summary

Introduced
01/11/2022
In Committee
01/11/2022
Crossed Over
Passed
Dead
01/08/2024

Introduced Session

2022-2023 Regular Session

Bill Summary

This bill prohibits an electronic payment system from imposing a fee on a merchant for the manual entry of a credit card that is higher than the fee for an electronic credit card transaction. "Electronic payment system" is defined as an entity, which is not a national bank, that directly, or through licensed members, processors or agents, provides the proprietary services, infrastructure, and software that route information and data to facilitate transaction authorization, clearance, and settlement, and that merchants access in order to accept a brand of general-purpose credit cards, charge cards, debit cards or store-valued cards as payments for goods or services. "Merchant" is defined as a person or entity doing business in this State which offers goods or services for sale in this State. The provisions of the bill would be in effect during a state of emergency declared by the governor.

AI Summary

This bill prohibits electronic payment systems from imposing a higher fee on merchants for manually entering credit card information compared to the fee for an electronic credit card transaction. The provisions of the bill would be in effect during a state of emergency declared by the governor. The bill defines "electronic payment system" as an entity that provides the infrastructure and software to facilitate credit, debit, and store-valued card transactions, and "merchant" as a person or entity doing business in New Jersey that offers goods or services for sale.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

Introduced in the Senate, Referred to Senate Commerce Committee (on 01/11/2022)

bill text


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