Texas SB2026 regulates swipe fees on electronic payment transactions, excluding state or local taxes and gratuities from swipe fees, and authorizes.

Texas SB2026 amends the Business & Commerce Code to introduce regulations on swipe fees for electronic payment transactions. It mandates that state or local taxes and gratuities be excluded from the total amount on which swipe fees are charged. Payment card networks must either deduct these excluded amounts from swipe fees at the time of settlement or rebate the merchant an equivalent amount. The bill also prohibits payment card issuers and networks from manipulating swipe fees to circumvent these provisions.

Texas SB2026 regulates swipe fees on electronic payment transactions, excluding state or local taxes and gratuities from swipe fees, and authorizes.

Texas SB2026 amends the Business & Commerce Code to introduce regulations on swipe fees for electronic payment transactions. It mandates that state or local taxes and gratuities be excluded from the total amount on which swipe fees are charged. Payment card networks must either deduct these excluded amounts from swipe fees at the time of settlement or rebate the merchant an equivalent amount. The bill also prohibits payment card issuers and networks from manipulating swipe fees to circumvent these provisions.