Florida Senate - 2026 SB By Senator Yarborough 4-01239-26 2026838__ CODING: Words stricken are deletions; words underlined are additions. A bill to be entitled

An act relating to electronic payments of retail installment contracts; creating s. 520.105, F.S.; 3 defining the term “electronic payment”; authorizing a holder of a retail installment contract, or its agent, 5 to collect a fee for processing a retail buyer’s electronic payment only if certain conditions are met; 7 providing an effective date. 8

Be It Enacted by the Legislature of the State of Florida: 10

Section

Section 520.105, Florida Statutes, is created to read: 13 520.105 Convenience fee for processing electronic payments.— 15

(1) As used in this section, the term “electronic payment” 16 means a payment made by credit card, debit card, electronic funds transfer, electronic check, or other electronic method. 18

(2) A holder of a retail installment contract, or its agent, may collect a fee for processing a retail buyer’s electronic payment under the retail installment contract only if all of the following conditions are met: 22

(

a) The fee is reasonably related to the actual expense incurred by the holder or its agent in processing the electronic payment. 25

(

b) The holder or its agent: 26 1. Allows the retail buyer to make a payment by a method other than an electronic payment which does not incur a fee; 28 2. Does not establish electronic payment as the expected Florida Senate - 2026 SB 838 4-01239-26 2026838__ CODING: Words stricken are deletions; words underlined are additions. form of payment; and 30 3. Before the buyer agrees to make an electronic payment, 31 provides disclosure of all of the following: 32 a. The amount of the fee to be charged under this section; 33 and b. The buyer’s option to make a payment by an alternative method that does not incur a fee, including payment by check, 36 cash, or money order. 37

Section 2. This act shall take effect July 1, 2026. 38