Mississippi payments and fintech laws

What it would do: Requires money transmission licensees to collect fees of $7.50 per transaction up to $500 and 1.5% above $500, remitted quarterly with half going to a Law Enforcement 287(g) Program Fund and half to the General Fund, and allows customers to claim income tax credits for fees paid.

What it would do: Amends the definition of 'gross proceeds of sales' under Mississippi sales tax law to exclude the amount of any debit card, credit card, or other processing or interchange fee charged for an electronic payment transaction, effective July 1, 2026.

What it would do: Revises money transmission licensing requirements to include virtual currency kiosk locations, requires licensees to provide contact information to customers, mandates elder financial abuse training for authorized delegates, and creates a Data Security for Money Transmitters Act establishing information security standards and breach notification requirements.

What it would do: Creates the Mississippi Earned Wage Access Services Act, establishing requirements and prohibitions for earned wage access services providers, including disclosure obligations, fee restrictions, and limitations on collection practices, effective July 1, 2025.

What it would do: Creates the Mississippi Earned Wage Access Services Act, establishing requirements for providers offering early access to earned but unpaid wages to avoid being deemed lenders or debt collectors, including prohibitions on civil suits, credit reporting, late fees, and mandatory disclosures of fees and voluntary tips.

What it would do: Creates the Retailer Tax Fairness Act, entitling merchants and sellers collecting state or local taxes in electronic payment transactions to a tax credit equal to 2.5% of taxes collected when they pay an interchange fee.

What it would do: Requires money transmitters licensed under the Money Transmission Modernization Act to collect a $5.00 fee per transaction up to $500 and 1% of amounts exceeding $500 for transfers of cash or similar instruments to foreign countries, with quarterly remittance to the Department of Revenue and license suspension for non-compliance. Creates an income tax credit for taxpayers equal to fees paid.

What it would do: Prohibits businesses from imposing surcharges on credit or debit card transactions, classifying violations as unfair or deceptive trade practices subject to civil penalties up to $500 per violation. Allows discounts for cash or check payments if clearly disclosed.

What it would do: Creates the Virtual Currency Kiosk Consumer Access and Protection Act requiring digital asset kiosk operators to obtain money transmission licenses, report kiosk locations, display fraud warnings and transaction disclosures, provide receipts, and limit new customers to $3,000 daily transactions for three days.

What it would do: Prohibits local governments and state agencies from charging electronic payment processing fees when taxpayers pay ad valorem taxes using debit cards. The prohibition applies to county, municipal, and state collection of ad valorem taxes, effective July 1, 2026.

What it would do: Requires merchants in Mississippi engaged in face-to-face sales to round cash transaction totals to the nearest five-cent denomination, rounding down for amounts ending in 1¢, 2¢, 6¢, or 7¢ and rounding up for amounts ending in 3¢, 4¢, 8¢, or 9¢, with exceptions for transactions under 4¢ or paid by non-cash methods.

What it would do: Requires virtual currency kiosk operators to be licensed money transmitters and comply with disclosure, fee, transaction limit, and fraud prevention requirements. Establishes civil forfeiture of property used in certain crimes.

What it would do: Creates the Retailer Tax Fairness Act, entitling merchants and sellers collecting state or local taxes in electronic payment transactions to a tax credit equal to 2.5% of taxes collected when they pay an interchange fee.

What it would do: Requires money transmission businesses to collect fees ($7.50 per transaction up to $500, plus 1.5% above $500) for an Illegal Immigration Enforcement Fund. Creates an enforcement unit within the Department of Public Safety and requires county detention facilities to enter Section 287(g) agreements with ICE by January 1, 2026. Prohibits governmental entities from contracting with carriers knowingly transporting unauthorized aliens into Mississippi.

What it would do: Authorizes check cashing businesses and credit availability licensees to pass third-party processing fees for debit or credit card transactions to customers, limited to the actual transaction cost charged by the processor, with required clear notice before transaction completion.

What it would do: Prohibits health plans doing business in Mississippi from imposing any charge, fee, or other payment on health care providers for electronic fund transfers and health care payment and remittance advice transactions on or after July 1, 2025.

What it would do: Prohibits local governments and state agencies from charging electronic payment processing fees when taxpayers pay ad valorem taxes using debit cards. The fee prohibition applies to county, municipal, and state collection of ad valorem taxes, effective July 1, 2025.