Florida Senate - 2026                                     SB 838
       
       
        
       By Senator Yarborough
       
       
       
       
       
       4-01239-26                                             2026838__
    1                        A bill to be entitled                      
    2         An act relating to electronic payments of retail
    3         installment contracts; creating s. 520.105, F.S.;
    4         defining the term “electronic payment”; authorizing a
    5         holder of a retail installment contract, or its agent,
    6         to collect a fee for processing a retail buyer’s
    7         electronic payment only if certain conditions are met;
    8         providing an effective date.
    9          
   10  Be It Enacted by the Legislature of the State of Florida:
   11  
   12         Section 1. Section 520.105, Florida Statutes, is created to
   13  read:
   14         520.105 Convenience fee for processing electronic
   15  payments.—
   16         (1) As used in this section, the term “electronic payment”
   17  means a payment made by credit card, debit card, electronic
   18  funds transfer, electronic check, or other electronic method.
   19         (2) A holder of a retail installment contract, or its
   20  agent, may collect a fee for processing a retail buyer’s
   21  electronic payment under the retail installment contract only if
   22  all of the following conditions are met:
   23         (a) The fee is reasonably related to the actual expense
   24  incurred by the holder or its agent in processing the electronic
   25  payment.
   26         (b) The holder or its agent:
   27         1. Allows the retail buyer to make a payment by a method
   28  other than an electronic payment which does not incur a fee;
   29         2. Does not establish electronic payment as the expected
   30  form of payment; and
   31         3. Before the buyer agrees to make an electronic payment,
   32  provides disclosure of all of the following:
   33         a. The amount of the fee to be charged under this section;
   34  and
   35         b. The buyer’s option to make a payment by an alternative
   36  method that does not incur a fee, including payment by check,
   37  cash, or money order.
   38         Section 2. This act shall take effect July 1, 2026.