Surcharging in Colorado is approved
Last week, Colorado Governor Jared Polis recently signed Senate Bill 21-091, repealing the state's ban on credit card surcharging. Now Colorado's surcharge law ensures proper disclosure about surcharges to consumers and mirrors the surcharging rules implemented by Visa Inc. and Mastercard Inc.
The new law caps surcharges at 2% of the transaction amount or the merchant's actual cost of the transaction. In addition there is a mandate to disclose the full surcharge amount to consumers prior to the transaction and prohibits surcharges on debit cards.
Colorado's new law leaves just two states—Massachusetts and Connecticut—with surcharging bans.
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