North Carolina H650 prohibits interchange fees on sales tax or gratuities for electronic payment transactions.

North Carolina H650 amends the General Statutes to prohibit issuers, payment card networks, acquirer banks, and processors from charging or receiving interchange fees on the tax or gratuity amount of an electronic payment transaction. Merchants must inform acquirer banks or their designees of the tax or gratuity amount during the authorization or settlement process. If a merchant fails to provide this information, they can submit tax documentation within 180 days of the transaction.

North Carolina H650 prohibits interchange fees on sales tax or gratuities for electronic payment transactions.

North Carolina H650 amends the General Statutes to prohibit issuers, payment card networks, acquirer banks, and processors from charging or receiving interchange fees on the tax or gratuity amount of an electronic payment transaction. Merchants must inform acquirer banks or their designees of the tax or gratuity amount during the authorization or settlement process. If a merchant fails to provide this information, they can submit tax documentation within 180 days of the transaction.