New Jersey S2079 regulates credit card interchange fees to protect consumers and promote competition.
New Jersey S2079 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 these fees from being unfairly passed onto consumers through inflated prices. It prohibits electronic payment systems from imposing certain restrictions on merchants, such as limiting the display of pricing, offering discounts for cash or other credit cards, or setting minimum or maximum dollar values for credit card acceptance.
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