SB917: Electronic Payment Transactions - Interchange Fees - Calculation and Use of Data

Legislative Summary

Requiring certain entities that process electronic payment transactions to exclude, under certain circumstances, the amount of tax and gratuity included in the electronic payment transaction from the amount on which an interchange fee is charged; requiring certain credit and debit card issuers to credit a merchant who provides certain documentation with the amount of the interchange fee charged on the amount of tax and gratuity included in an electronic payment transaction; etc.