Bill > HB2768

This bill, concerning electronic payment transactions and interchange fees in Arizona, aims to regulate how payment card networks (entities that facilitate electronic payments) and their associated banks (acquirer banks and issuers) charge fees. It defines key terms like "interchange fee" (a fee paid to the issuer for processing a transaction), "covered issuer" (a large financial institution), and "payment card network." The bill prohibits payment card networks from establishing interchange fees that include a percentage of the transaction amount without excluding taxes, and from increasing other fees to circumvent this rule. It also requires payment card networks to disclose changes to their fee schedules at least 90 days in advance and to provide an annual list of issuers using their fee schedules. Furthermore, the bill prevents payment card networks from penalizing merchants for their pricing practices and establishes rules for chargebacks, including requiring public disclosure of chargeback procedures and prohibiting finalization of chargebacks until disputes are resolved and parties are notified. Specific fee limits are set for charitable contributions made via debit or credit cards, and violations can result in civil penalties of up to $1,000 per transaction, with the Attorney General empowered to take legal action. The bill is set to become effective on January 1, 2027.

Business and Industry

https://apps.azleg.gov/BillStatus/BillOverview/84608