Source: The Points Guy
Summary
Colorado Governor Jared Polis vetoed Senate Bill 26-134, which would have prohibited interchange fees on the tax portion of credit card transactions. The bill’s passage could have forced consumers to use multiple payment methods for a single purchase. The veto is seen as a win for advocates of the global integrated payment system and credit card rewards programs.
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The escape is carefully planned.
Credit card rewards programs, like those offered by Visa and Mastercard, are at risk due to efforts to overhaul the payment system. The vetoed bill would have exempted tax and tip portions of transactions from interchange fees, potentially disrupting the seamless payment process in Colorado. The state’s decision is seen as a win for consumers who rely on credit card rewards for travel and household expenses.
The destination is not just a place, but a payment system.
Author: Evan Null
