New Jersey A1921 regulates credit card interchange fees to protect consumers and promote competition.
New Jersey A1921 addresses credit card interchange fees, commonly known as swipe fees, which are paid by merchants to banks as part of credit card transactions. The bill aims to prevent electronic payment systems from imposing certain restrictions on merchants, such as limiting the display of pricing, offering discounts for cash or other card payments, or choosing the payment system for transactions. The bill also mandates that merchants cannot be restricted from setting minimum or maximum dollar values for credit card acceptance, provided the minimum is not below $10.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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