Case: B&R Supermarket, Inc., et al. v. Visa, Inc., et al., Case No. 17-cv-02738 (E.D. N.Y.)

The class has entered into settlements totaling $231.7 million pertaining to “Fraud Liability Shift.” Specifically, in October 2015, merchants became liable for chargebacks on EMV chip-card transactions processed at terminals that did not have EMV-compliant card readers, shifting liability from the Networks to the merchants.

The settlements include those reached with Amex ($20 million), Discover ($12.2 million), Mastercard ($79.8 million) and Visa ($119.7 million).

The settlements are pending final approval. The settlement funds will be distributed if and when final approval is granted and after completion of a claims process.

The lawsuit allegesthat Defendants Visa, Mastercard, American Express, and Discover violated antitrust laws by illegally actingin concert in shifting the liability for certain fraudulent charges when a credit or debit card was enabled withEMV/chip technology and the merchant’s terminal was not enabled for EMV/chip technology.

The “Settlement Class” consists of merchants who incurred an unreimbursed chargeback on a transaction that occurred between October 1, 2015, and September 30, 2017, due to a shift of liability for certain fraud on Visa, Mastercard, American Express, or Discover transactions when the credit or debit card was enabled with EMV/chip technology and the merchant’s terminal was not enabled for EMV/chip technology.