This bill amends existing consumer credit laws in Oklahoma, specifically addressing the treatment of discounts and surcharges related to payment methods. It allows sellers to offer discounts for payments made by cash, check, or similar means without classifying these discounts as credit service charges, provided they are clearly communicated to all prospective buyers. Additionally, sellers are permitted to pass on processing fees or impose surcharges on customers who choose to pay with credit or debit cards, as long as these charges are itemized separately on the receipt. The bill also clarifies that certain educational institutions and municipalities can charge service fees to cover specific transaction-related costs.

Furthermore, the bill establishes that sellers registered as money transmitters can charge different prices based on the payment method used for electronic funds transmission services, ensuring that the price for card payments does not exceed that for cash payments. The effective date for these changes is set for November 1, 2025. Overall, the amendments aim to provide clarity and flexibility for sellers while ensuring transparency for consumers regarding payment processing fees.