Rhode Island H8212 prohibits interchange fees on sales and use tax or excise tax when payment is made with a credit or debit card.

Rhode Island H8212, known as the Interchange Fee Restriction Act, prohibits issuers, payment card networks, acquirer banks, and processors from charging interchange fees on the tax amount of an electronic payment transaction. The merchant must inform the acquirer bank or its designee of the tax amount as part of the authorization or settlement process. If the merchant fails to do so, they may submit tax documentation within 180 days of the transaction.

Rhode Island H8212 prohibits interchange fees on sales and use tax or excise tax when payment is made with a credit or debit card.

Rhode Island H8212, known as the Interchange Fee Restriction Act, prohibits issuers, payment card networks, acquirer banks, and processors from charging interchange fees on the tax amount of an electronic payment transaction. The merchant must inform the acquirer bank or its designee of the tax amount as part of the authorization or settlement process. If the merchant fails to do so, they may submit tax documentation within 180 days of the transaction.