CA SB1351

Requires retailers to provide means of processing microchip-equipped or more secure payment cards in card-present transactions starting April 1, 2016 (October 1, 2017 for small retailers and gas station pumps).

Mandates that 75% of new or replacement payment cards issued to California cardholders have embedded microchips or more secure technology, effective April 1, 2016 for most financial institutions and October 1, 2017 for small financial institutions with $5 billion or less in assets.

Applies to contracts between financial institutions and payment card networks governing the display of payment card network logos on issued cards.

Sunsets on January 1, 2020, unless a statute enacted before that date extends or deletes the expiration date.

Defines key terms including "financial institution," "payment card," "payment card network," "retailer," "small financial institution" ($5 billion or less in assets), and "small retailer" (10 or fewer employees).