Payment Processor BluePay Collaborates with Brownstone Recovery Group on Settlement
NAPERVILLE, IL (May 21, 2014) – Payment processor BluePay has partnered with Brownstone Recovery Group to help its merchants recover their share of the $7 billion settlement of a class-action legal case involving Visa and MasterCard.
Brownstone is an experienced settlement recovery group with extensive knowledge and expertise regarding payment acceptance, interchange fees, and merchant business practices.
In October 2012, a court case regarding unfair business practices related to interchange fees was settled between a group of merchants, Visa, MasterCard, and other issuing banks in the amount of $7 billion. A judge approved the action as “Final” on December 13, 2013; however, the decision is currently being appealed, and it is unknown how long the appeals process will take.
Any merchant who accepted Visa or MasterCard transactions between January 1, 2004, and November 28, 2012, is eligible to file a claim and be included in the settlement. BluePay has streamlined the enrollment process for its merchants. Merchants can get started with filing a claim on the BluePay website. Once completed, Brownstone navigates the filing process on behalf of the merchant and helps to determine if the merchant’s estimated recovery is appropriate and fair.
Although it is possible for each merchant to file on their own, BluePay urges its merchants to consider working with Brownstone and taking advantage of their expertise to get the maximum benefit that they deserve.
About BluePay: BluePay is a leading provider of technology-enabled credit card payment processing services for enterprise, small, and medium-sized businesses in the United States and Canada. Through physical POS, online, and mobile interfaces, BluePay processes payments and provides real-time settlement, reporting, and reconciliation, along with robust security features such as tokenization and point-to-point encryption. BluePay is headquartered in Naperville, Illinois, with offices in Chicago and New York. For more information, follow BluePay on all of the social media outlets or visit www.bluepay.com.