Credit Card Reader Lawsuit
Audet & Partners, LLP is investigating claims on behalf of small merchants and retailers seeming from fees and charges incurred in connection with transition to the new EMV chip-based point of sale (POS) transaction system recently implemented by major U.S. card issuers.
In recent years, prominent financial institutions and credit card issuers including Visa, MasterCard, American Express, Discover, Bank of America, Chase, Citibank, PNC and Wells Fargo issued new credit cards containing EMV chips to customers requiring merchants to install new equipment throughout the United States. As part of this transition, merchants of all sizes, even so called “mom and pop” independent stores, were saddled with the burden of ensuring that their systems were fully compliant by a certain date, or else risking excessive chargeback fees.
Problems arose when merchants became unable to meet an October 1, 2015 deadline through no fault of their own, but rather because the expensive terminals they had purchased failed to be certified by this date. Merchants have complained that this “certification” process was poorly designed and implemented by the card companies and, as a result, cost merchants sizable chargeback fees for transactions that failed to successfully process or that were deemed “fraudulent” by the card companies.
If you own a business that tried to implement new EMV-compliant terminals but were assessed chargebacks and fees after October 1, 2015, you are urged to contact a consumer fraud attorney at Audet & Partners, LLP for a free, confidential case review to determine whether you may join a credit card chip lawsuit. You can contact us either by completing and submitting our inquiry form on the right side of this page, or by giving us a call at (800) 965-1461.