Credit cards; increasing surcharge limit. Effective date.

SB 2132 increases the maximum surcharge businesses in Oklahoma can charge for credit card payments from 2% to 3.5% of the transaction amount (or the actual processing fee, whichever is lower). It removes limits on discounts offered for cash, check, or debit card payments and allows businesses to apply these discounts without restriction. The bill applies to all sellers conducting transactions in Oklahoma, with specific exemptions for private schools, municipalities, and money transmitters, which may charge service fees only for processing costs, security measures, or bandwidth expenses. The law takes effect November 1, 2026.