New Jersey 2022-2023 Regular Session

New Jersey Senate Bill S92

Introduced
1/11/22  

Caption

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

Impact

If enacted, this bill would amend existing regulations concerning financial transactions, ensuring merchants are not financially penalized for the necessity of manual credit card entries during times of emergency. This provision aligns with efforts to stabilize economic conditions for businesses that are already facing challenges when operating under emergency conditions. The impact is expected to help small businesses, which may be more adversely affected by such fees due to their typically tighter profit margins.

Summary

Senate Bill 92, introduced by Senator Jean Stanfield, aims to regulate fees imposed by electronic payment systems on merchants during a declared state of emergency. This legislation arises from concerns regarding financial burdens on businesses amidst crises, such as public health emergencies, where they might still have to accept payments manually. The bill prohibits these payment systems from charging merchants higher fees for manually entered credit card transactions than they would for standard electronic transactions.

Contention

There may be points of contention regarding this bill, particularly around the effectiveness of such regulations. Critics could argue that the regulations might not fully protect merchants if the underlying costs of electronic payment processing do not decrease. Additionally, the bill's implications for electronic payment systems that may have their own operational costs could lead to debates on the balance of protecting merchants and the potential financial impacts on these payment system providers.

Companion Bills

No companion bills found.

Previously Filed As

NJ S599

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

NJ S1717

Concerns credit card interchange fees and consumer protection.

NJ A1530

Concerns credit card interchange fees and consumer protection.

NJ A2416

Concerns credit card interchange fees and consumer protection.

NJ SB798

Credit card interchange fees; defining terms; requiring certain taxes and fees be excluded from certain interchange fee charges. Effective date. Emergency.

NJ SB125

Relating to credit and debit card fees; to provide that the calculation of any credit or debit card swipe fee may not include taxes and fees added on to the price of the goods or services purchased by the credit or debit card.

NJ AB1065

Credit card transaction fees: tax payments: Consumer Inflation Reduction and Tax Fairness Act.

NJ HB1282

Payment Card Network Practices & Fees

NJ S0135

An act relating to credit card fees and requiring the acceptance of cash

NJ H0317

An act relating to credit card fees on taxes and gratuities

Similar Bills

NJ S1717

Concerns credit card interchange fees and consumer protection.

NJ A1530

Concerns credit card interchange fees and consumer protection.

NJ A2416

Concerns credit card interchange fees and consumer protection.

CA AB1065

Credit card transaction fees: tax payments: Consumer Inflation Reduction and Tax Fairness Act.

AZ HB2629

Merchant; fees; calculation; transactions; penalty

KS HB2089

Enacting the consumer inflation reduction and tax fairness act and exempting the portion of a credit card transaction constituting a tax or gratuity from assessment of the fee charged by the card issuer.

NM HB476

Price Fixing Prohibition & Tax Fairness

FL H0677

Electronic Payment Transactions