, /PRNewswire/ — The Electronic Transactions Association (ETA) today applauded Governor Jared Polis for vetoing Senate Bill 26-134, legislation that would have disrupted electronic payments and increased costs for Colorado consumers and small businesses.
“Governor Polis demonstrated strong leadership by standing up for Colorado consumers, small businesses, and workers,” said Jodie Kelley, Chief Executive Officer of ETA. “His veto protects the payment systems Coloradans rely on every day and prevents a policy that would have increased costs and disrupted commerce across the state.”
SB 26-134 would have imposed unprecedented mandates on the payments system that powers commerce across Colorado. Industry stakeholders warned the legislation could have led to more declined transactions at the checkout counter, making it harder for consumers to complete purchases and disrupting everyday commerce. By vetoing SB 26-134, Governor Polis avoided payment disruptions that could have left consumers frustrated and businesses losing sales.
Governor Polis’s action also helps safeguard an industry that plays a significant role in Colorado’s economy. According to a recent PwC study commissioned by ETA, the payments industry supports approximately 40,000 jobs in Colorado, generates $4.2 billion in labor income, and contributes $6.2 billion to the state’s GDP.
“Governor Polis recognized that Colorado should not risk disrupting a payments system that supports consumers, small businesses, and thousands of jobs across the state,” Kelley said. “His veto sends a clear signal that Colorado supports innovation, consumer choice, and a modern payments ecosystem that powers economic growth. We look forward to working with state leaders on policies that strengthen Colorado’s economy while preserving the reliability and security of modern payments.”
About ETA
The Electronic Transactions Association is the world’s leading advocacy and trade association representing the payments technology ecosystem. ETA members make commerce possible by processing and securing electronic transactions for consumers, merchants, and businesses of all sizes. www.electran.org.
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SOURCE Electronic Transactions Association (ETA)
