Ever wondered how the payment landscape has transformed from outright prohibitions on surcharges to complex legal frameworks? Join us for an eye-opening discussion with Associate Attorney Leo Arzumanian, who sheds light on these intricate changes. We promise you'll walk away with a deeper understanding of state-specific regulations and the implications they hold for both merchants and consumers. From Minnesota's new consumer protection laws to New York's dual pricing allowances, we'll unravel the tangled web of rules and requirements that govern surcharging practices today.

Leo Arzumanian takes us on a journey through the nuanced world of credit card surcharging, exploring the challenges merchants face in states with stringent laws and caps. We dissect recent updates from card brands like Amex and their impact on businesses. Discover how California's "junk fees law" and its exemptions for restaurants are influencing a broader trend towards transparency and compliance. As federal oversight diminishes, states are stepping up, creating a patchwork of regulations that every business owner must navigate.

Our conversation doesn't stop at the laws; it also extends to the future of payment systems and the decline of cash. We consider the architectural issues of current payment rails and explore alternative cost-effective methods like ACH. Leo shares insights on why class action lawsuits around noncompliance are rare, and we discuss the challenges small businesses face in maintaining compliance across multiple jurisdictions. This episode is essential for anyone looking to understand the legal landscape of transactions and the opportunities that lie ahead in this evolving field.

A payments podcast of Global Legal Law Firm