Businesses can charge 2% fee on credit card purchases
Businesses in Colorado can now charge a 2% fee on credit card purchases. A new law went into effect this month.
Colorado was one of the last states that prohibited retailers from recovering credit card transaction costs. Now they can recoup up to 2%.
The hope was to help businesses, especially during the pandemic. The law also clarifies that a merchant cannot charge customers the 2% if they use cash, check or debit cards.
