Minnesota HF4956 prohibits interchange fees on state and local taxes for electronic payment transactions.

Minnesota HF4956 prohibits issuers, payment card networks, acquirer banks, and processors from charging merchants interchange fees on the tax or gratuity amount of electronic payment transactions. If a merchant informs the acquirer bank or its designee of the tax or gratuity amount during the authorization or settlement process, they cannot be charged these fees. If the tax or gratuity amount is not provided, merchants can submit tax documentation within 30 days to receive a credit for the fees charged on the tax or gratuity amount.

Minnesota HF4956 prohibits interchange fees on state and local taxes for electronic payment transactions.

Minnesota HF4956 prohibits issuers, payment card networks, acquirer banks, and processors from charging merchants interchange fees on the tax or gratuity amount of electronic payment transactions. If a merchant informs the acquirer bank or its designee of the tax or gratuity amount during the authorization or settlement process, they cannot be charged these fees. If the tax or gratuity amount is not provided, merchants can submit tax documentation within 30 days to receive a credit for the fees charged on the tax or gratuity amount.