Payment Choice Act of 2025
Payment Choice Act of 2025
Plain Language Summary
# Payment Choice Act of 2025 - Plain Language Summary **What the bill would do:** This proposed law would require retail businesses to accept cash payments for purchases of $500 or less and prohibit them from charging cash customers more than customers who pay by credit card or other methods. The bill would apply to any physical retail store that currently accepts in-person payments. If a business refuses cash or charges extra for paying with cash, customers could take legal action to stop the practice and seek damages or civil penalties. **Who it affects:** The bill primarily impacts retail businesses with physical locations (stores, restaurants, etc.) and their customers.
It would prevent businesses from going "cashless only," which some companies have started doing in recent years. The law includes a workaround allowing stores to offer on-site prepaid cards with no fees as an alternative payment method. **Current status:** The bill was introduced by Representative John W. Rose (R-TN) in the 119th Congress and is currently in committee, meaning it hasn't yet been debated or voted on by the full House of Representatives.
CRS Official Summary
Payment Choice Act of 2025This bill requires retail businesses to accept cash as a form of payment for on-site sales of $500 or less and it prohibits them from charging cash-paying customers a higher price compared to customers not paying with cash. Businesses covered by this bill are those engaged in the business of selling or offering goods or services at retail to the public that accept in-person payments at a physical location.The bill establishes exceptions for this requirement, including by allowing a business to provide a device to provide prepaid cards on site for customers to use as payment. Among other requirements, such a card must not have a fee associated with its use and must not require a minimum payment of more than $1.The bill provides for enforcement through preventative relief, damages, and civil penalties.
Latest Action
Referred to the House Committee on Financial Services.