weekend A new law took effect in New York requiring companies to inform customers about credit card overcharges This will cost them more money.
From Sunday, Businesses must report the full cost of goods or services with credit cardsincluding surcharge, Before making the respective payment by the customers,
Cashiers or owners must show the total price to the customerincluding credit card charges, or List prices separately for payment With credit card or cash.
Other than this, This new law requires surcharges to be imposed on customers who use credit cards This will be what credit card companies charge.
,New Yorkers never have to deal with hidden credit card costs againAnd this legislation will ensure that people can be assured that there will not be surprise surcharges on their purchases,” Gov. Kathy Hochul, who signed the bill into law that month, said in December.
,Transparency is key to building trust between companies and communities “And now sponsors will have the ability to budget accordingly.”
On the State Department website, Video explains which signs businesses can display and which will soon become illegalNBC New York reported.
For example: Owners can no longer simply show the percentage to be added for using a credit card and ask customers to do the math. Other than this, The total price should be shown on the sign.
This new general rule does not apply to debit cards.