Credit cards; increasing surcharge limit. Effective date.

SB 2077 increases Oklahoma's maximum surcharge for credit card payments from 2% to 4% of the transaction amount, or the actual processing fee, whichever is lower. It requires businesses to clearly post surcharge amounts at physical points of sale, online checkout pages, and verbally disclose them for phone orders. The bill also permits private schools, municipalities, and money transmitters to charge service fees limited to actual costs like bank processing fees, while prohibiting surcharges that exceed the new cap. This change takes effect November 1, 2026, applying to all businesses operating in Oklahoma that accept credit cards.