New NYS Law to Clarify Disclosure of Credit Card Surcharges Goes Into Effect Today
A new consumer protection law that goes into effect today will amend and clarify New York’s existing credit card surcharge law.
The law provides greater transparency and protections for consumers by limiting credit card surcharges to the amount charged to the business by the credit card company and requiring businesses to post the total price of an item or service before checkout. The total must include the credit card surcharge or show a two-tiered pricing option, which requires the credit card price to be posted alongside the cash price.
This law does not apply to debit cards.