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Effective February 11, 2024, New York State Passes New Surcharge Law for Businesses Accepting Credit Card Payments
Effective February 11, 2024, New York State Passes New Surcharge Law for Businesses Accepting Credit Card Payments

Effective February 11, 2024, New York State passed a new law (NYS GBS § 518) which clarifies the required disclosure that businesses must when imposing a surcharge on customers who pay with a credit card.

This is law gives two points of guidance: it limits the credit card surcharges that a business can charge the consumer to the actual amount charged by the credit card company and requires clear signage on the part of the business that indicates the higher price of the item inclusive of the credit card surcharge or allows dual pricing where the cash and credit card price is posted side by side.

Consumers can report violations to The Division of Consumer Protection and to the Attorney General so businesses must be mindful to fully comply.

The intention of this law is to better inform consumers about the total cost of items prior to the point of payment. The true impact of this law on merchant and consumer behavior remains to be seen.

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Ella Zalkind
Ella Zalkind
editor

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