Skip to comments.New York’s new credit card surcharge law is in effect: Here’s what it means for customers and businesse
Posted on 02/12/2024 11:17:36 AM PST by ChicagoConservative27
A new law requiring New York businesses to clearly display the total cost of purchasing items with a credit card — including any surcharges — is in full swing.
As of Sunday, businesses in the Empire State are required to disclose any additional credit card surcharges before a customer begins to check out.
The businesses can either post the total price, inclusive of the credit card surcharges, or list the different prices for both card and cash payments for items.
“As more New Yorkers use credit cards and EBT [electronic benefit transfer] products to purchase goods and services, pricing transparency is critical for consumers to make informed decisions at the register,” state Sen. Jeremy Cooney (D-Rochester), who helped spearhead the legislation, told The Post.
(Excerpt) Read more at nypost.com ...
It sounds like a good idea, to me. I don’t see a downside to people knowing where all the charges are coming from.
It’s good to know about hidden charges. However, in reality, this about seeming to do something than actually doing something to make New York a better city.
This has been going on for a while where i live in NY- the local bagel shop and Italian restaurant have signs that its a 3% “discount” if you pay with cash- which is really BS- they are just passing the CC charge onto the consumer.
Considering the move to currencies that can be traced, thank goodness there are businesses advocating for good old cash.
It means time to leave, but do not come here.
this is all of NY, not just NYchitty.
Because the people who actually own the damn cards are too stupid to know.
I should have become a banker.
If they don’t read their credit card statements, outside of knowing what the minimum monthly payment is, why will they read this?
I have seen this in many places, both in America and elsewhere. I’m a fan ... and I don’t care that the sponsor in this case is a democrat. Transparency is a good thing; we need more of it.
So, you don’t use debit and credit cards? All cash?
If a merchant is going to gouge me for using a credit card.( Usually a small convenience store)
I use cash or “eat the fee” on credit, if I really want the purchase.
It is pretty rare to run into businesses that charge more for credit card purchases. Sometime Gas stations do. But they list a cash and credit price if they do. The only other place I noticed that charges more is the government. Try paying your taxes with a credit card and there is a surcharge.
The article states that the customer has to be informed BEFORE checking out; and I assume that the breakdown will also be on the printed receipt.
It seems New York did something not insane.
Maybe there’s a catch.
One would think that government would incentivize using cards over cash, instead of the opposite. That way they can better track your transactions.
Willie Sutton agrees....................
I don’t get it. I think most businesses just include the 3.5% merchant fee into their markup. So I’m not sure what the problem is. Just display one price and use that price for all for forms of payment. People may quietly negotiate down a cash price I suppose when possible.
How about putting the total price including sales tax on the sticker?
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