If you are a merchant who incurred an unreimbursed EMV/chip Fraud Liability Shift chargeback on a Visa, Mastercard, American Express, or Discover credit or debit card transaction that occurred from October 1, 2015, to September 30, 2017, you may be a member of a Settlement Class.
Overview of the EMV CHIP Settlement
The lawsuit alleges Defendants violated antitrust laws by entering into a conspiracy to adopt the same policy via nearly identical rules for shifting billions of dollars in liability for fraudulent charges, or "chargebacks," from banks to merchants ("Fraud Liability Shift" or "FLS") when a credit or debit card was enabled with EMV/chip technology and the merchant's terminal was not enabled for EMV/chip technology and made the liability shift effective on the same day and in the same manner for all four networks. Defendants deny the legal claims and deny any wrongdoing or liability. The Court has not decided who is right.
Plaintiffs allege that merchants paid excessive fees and were subject to anti-competitive network rules tied to Visa Debit transactions. Defendants deny wrongdoing, and the settlement remains subject to Court approval and claims administration procedures.
Who will be eligible?
The Class includes: All merchants who incurred one or more unreimbursed chargeback(s) between October 1, 2015, through and including September 30, 2017, pursuant to the Fraud Liability Shift for the assessment of Mastercard, Visa, Discover and/or Amex payment card chargebacks, who did not exclude themselves from the Class.
What is the benefit?
Mastercard International, Incorporated ("Mastercard"), Visa, Inc., and Visa U.S.A., Inc. (together, "Visa"), Discover Financial Services ("Discover"), and American Express Company ("Amex") (collectively, "Defendants") have each reached settlements (the "Settlements") totaling a combined $231.7 million ("Gross Settlement Fund").
There will be no payments to the Class at this time. Class Members will be notified later of an opportunity to file a Claim Form.
How Macmoor Capital Can Help
Navigating payment card settlements and claims documentation can be complex and time-consuming. Macmoor Capital provides comprehensive claims management services to maximize your recovery:
- Eligibility Assessment: We review your organization’s merchant processing history to determine eligibility.
- Documentation Collection: Our team assists with gathering processor statements, merchant account records, tax documentation, and transaction histories.
- Claim Filing: We prepare and submit your claim according to settlement requirements.
- Follow-Up: We communicate with settlement administrators regarding claim status, deficiencies, or additional documentation requests.
- Recovery Optimization: Our expertise helps ensure your organization receives the maximum potential recovery.
Act Now!
Businesses should begin gathering merchant statements, processing records, tax documentation, and historical transaction data as soon as possible. Delays in locating records may impact the ability to maximize recovery.
Let Macmoor Capital guide your organization through the claims process and help secure the compensation you may be entitled to receive.
Our Services
Macmoor Capital focuses on making sure to maximize every client's claim. Every year, thousands of businesses fail to recover damages incurred because they neglect to file class action claims to receive their share of multi-million and multi-billion dollar class action lawsuit settlements.
