NEW JERSEY (KYW Newsradio) — A bill recently signed into law by Gov. Phil Murphy prevents stores and restaurants in New Jersey from profiting off credit card fees charged to customers.
“All residents and visitors doing business in New Jersey deserve the utmost transparency with respect to their transactions,” Murphy said.
More and more stores are passing credit card processing fees, usually around 3%, to customers. Bill sponsor Assemblyman Paul Moriarty finds this “very troubling.”
He says nobody should be surprised by additional fees after they already paid for something or finished a meal.
“If it’s a restaurant, it has to be on the menu. If it’s over the phone, they have to tell you verbally before they actually make the transaction.”
And the fees cannot be more than what it actually costs the retailer for the transaction.
Moriarty says if people know upfront they will be charged more for paying with plastic, they can go someplace else and save money.
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