SIOUX FALLS, SD and NEW YORK, NY (April 3, 2013) - The ATM Industry Association (ATMIA) today announced that it re-filed its amicus (“friend of the court”) brief in the U.S. District Court of Eastern New York on Friday, March 29, 2013, in opposition to the proposed class action settlement between merchants and MasterCard/VISA. ATMIA restated its argument that the language of the agreement is so broad and vague that it might be construed to include ATM deployers, even though the original claims were made by merchants engaged in the sale of goods or services.
The proposed settlement would presumably end many years of disputes between merchants and the two payment networks over interchange fees and surcharging. Merchants would finally gain the right to impose surcharges on credit card purchases, as well as share in over $7 Billion in payments and temporary interchange reductions as damages. MasterCard and VISA, in turn, receive a broad release of all related claims – both current and future.
ATMIA’s original amicus brief was filed on November 2, 2012. Preliminary approval of the class action settlement, which was fully expected by all parties, was granted on November 9, 2012. The brief was re-filed to assure that ATMIA’s arguments are part of final deliberations that will conclude on May 28, 2013. The settlement is also opposed by a wide range of merchants, including 10 of the original 19 plaintiffs. A final decision in the case is not expected until at least mid-Summer.
About the ATM Industry Association
The ATM Industry Association is a global non-profit trade association with over 3,700 members in 60 countries. Its mission is to promote ATM convenience, growth and usage worldwide, to protect the ATM industry's assets, interests, good name and public trust; and to provide education, best practices, political voice and networking opportunities for member organizations. More information about ATMIA can be found on their website, www.atmia.com