NJ A2416

Prohibits electronic payment systems (like Visa and MasterCard) from imposing contract requirements on merchants regarding how they display pricing for goods and services

Allows merchants to offer discounts or incentives to customers for using cash, debit cards, or credit cards from competing payment systems

Permits merchants to set minimum transaction amounts up to $10 and maximum amounts for credit card acceptance, and to accept a payment system at some locations but not others

Requires electronic payment systems to allow credit card transactions to be processed through multiple, non-affiliated networks, giving merchants choice in processing systems

Violations constitute unlawful practices under New Jersey's consumer fraud act, with penalties up to $10,000 for first offenses and $20,000 for subsequent offenses, plus mandatory reimbursement to affected merchants for all chargebacks, fees, and fines collected during the violation period