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, with the stipulation that these charges must be itemized separately on the receipt.

The bill also clarifies that certain entities, such as private educational institutions and municipalities, can charge service fees to cover bank processing and transaction costs. These fees can be applied to both online and in-person transactions. The effective date for these changes is set for November 1, 2025. Overall, the amendments aim to provide more transparency in consumer credit transactions and allow sellers greater flexibility in managing payment processing costs.