This bill amends Section 2-211 of Title 14A of the Oklahoma Statutes, which pertains to credit card transactions and the imposition of surcharges by sellers. The key change in the bill is the increase of the maximum allowable surcharge that sellers can impose on customers who choose to pay with a credit card. The previous limit of two percent (2%) has been raised to three and one-half percent (3 1/2%) of the total transaction amount or the actual processing fee, whichever is lower. Additionally, the bill clarifies that sellers must provide clear and conspicuous notice of any surcharge at the point of entry and point of sale, as well as verbally for phone transactions.

Furthermore, the bill allows sellers registered as money transmitters to charge different prices based on the mode of transmission used for funds transmission services, provided that the price for credit card payments does not exceed the price for cash or similar payments. It also specifies that certain educational institutions and municipalities may charge service fees limited to specific costs associated with processing transactions. The act is set to take effect on November 1, 2026.