Prohibits retail businesses from charging excessive surcharges on credit and debit transactions

This bill prohibits retail businesses from charging customers more than the actual processing cost when they pay with credit cards, debit cards, or digital payment systems. While it bans excessive surcharges, it allows merchants to collect a nonrefundable convenience fee that must equal the true cost of the transaction or an approved average rate. To qualify for charging this fee, businesses must also offer a free payment option using cash, check, or money order and clearly disclose the fee amount before the customer completes the purchase. The law applies to any retail business accepting electronic payments and aims to ensure fees remain transparent and directly tied to processing expenses.