ALEXANDRIA, Va.—NACS is hosting a free webinar on April 30 to help convenience retailers sort through the notices they are receiving as part of the latest credit-card swipe-fee class action settlement affecting merchants that have accepted Visa and Mastercard payments at any time since January 1, 2004.
“The Swipe Fee Class Action Settlement—What does it mean for me?” webinar will help NACS members understand what is and is not part of the settlement and what the next procedural steps are so that they can make decisions about their options in the case. The opt-out or object deadline is July 23, 2019.
Make sure your stores are prepared and ready for what’s to come. The webinar is scheduled for 2:30 to 3:30 p.m., EDT, on Tuesday, April 30.
Register here for the webinar.
Swipe fees are the second highest operating cost for convenience store retailers. During the past decade, convenience store retailers have paid more in swipe fees than their pre-tax profit every year but one. In February, the U.S. District Court for the Eastern District of New York granted preliminary approval of the B3 class settlement In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation. This is the long-running challenge by merchants to interchange fees and Visa’s and MasterCard’s operating rules. For more information on swipe fees and how NACS is advocating on behalf of members, see the NACS swipe fees issues brief.