ROCHESTER, N.Y. (WROC) – There is a new guidance for New York State businesses when charging an additional fee to customers paying with a credit card, starting on Feb. 11.
This new guidance comes after Governor Kathy Hochul signed into law Assembly Bill 2672, which imposes disclosure requirements with respect to credit card surcharges for transactions with New York customers.
Vendors will be required to post the highest price that consumers might pay when using a credit card, along with the price that is offered when the customer uses another payment method such as cash, check or debit card.
Any surcharge must be no more than the amount charged to the business by its credit card provider.
Failure to do so can lead to a $500 penalty after every violation.