SB2132 amends Oklahoma’s credit card surcharge law. The bill raises the maximum surcharge a seller may impose on a customer who chooses to pay by credit card from 2% to 3%, while keeping the requirement that any surcharge be clearly and conspicuously disclosed at the point of entry and point of sale for in-person transactions, on the homepage and point-of-sale webpage for online transactions, and verbally for phone transactions. The bill also preserves the existing rule that discounts offered for paying by cash, check, debit card, or similar means are not treated as credit service charges if properly disclosed.
The measure continues to allow certain registered money transmitters to charge different prices based on the mode of transmission, so long as credit card or debit card payments are not priced higher than currency or other similar means within the same mode. It also retains special provisions allowing private educational institutions, private schools, municipalities, and municipal public trusts to charge limited service fees tied to processing and transaction costs. The bill takes effect November 1, 2026.
Impact
SB2132 would amend 14A O.S. 2021, Section 2-211, changing the permissible credit card surcharge cap and updating the state’s consumer credit rules governing payment-method pricing. It affects sellers doing business in Oklahoma, including retailers, service providers, and lease transaction participants, as well as online and telephone merchants that impose card surcharges. The bill also continues to regulate money transmitters and preserves fee authority for certain schools and local government entities under specified limits.
Sentiment
The bill appears to have received mixed but ultimately favorable consideration. It passed the Senate on third reading by a 28-17 vote after advancing through committee on a unanimous 10-0 do pass amended vote, and it later passed the House Banking, Financial Services and Pensions Committee 8-0. The committee and floor actions suggest support for the policy change, though the Senate floor vote indicates meaningful opposition or concern among some members.
Contention
The main point of contention is the increase in the allowable surcharge cap from 2% to 3%, which likely raises concerns about added costs to consumers who use credit cards. Supporters appear to favor giving merchants more flexibility to recover processing costs, while opponents may view the higher cap as an unnecessary burden on card users. The bill’s detailed disclosure requirements and the continued limits on special fees for schools and municipalities suggest an effort to balance merchant flexibility with consumer transparency.