Bill > SB351

This bill modifies Oklahoma's laws regarding credit card and debit card transaction fees, allowing sellers to pass on processing fees or impose surcharges when customers choose to pay with credit or debit cards instead of cash or check. Under the new provisions, if a seller decides to impose such a fee, they must list it as a separate line item on the customer's receipt and ensure the surcharge does not exceed the total of actual processing costs, including bank fees, financial transaction fees, secure transaction costs, portal fees, and bandwidth expenses. The bill updates definitions of "debit card" and introduces a definition for "surcharge," clarifying that it represents an additional charge not applied to customers paying with cash or check. The legislation also removes previous restrictions on surcharges and provides more transparency about fee calculations. Importantly, the bill does not set a cap on discounts sellers can offer for cash payments and allows sellers flexibility in how they handle card transaction fees. The changes will take effect on November 1, 2025, giving businesses ample time to prepare for the new regulations.