Target has agreed to pay up to $67m to settle Visa claims over a 2013 data breach that resulted in the theft of millions of debit and credit card numbers.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The breach, which occurred during the holiday shopping season, affected the retailers’ computer systems compromising 40 million credit and debit card accounts.
It also resulted in the theft of personal information, including names and addresses, of as many as 70 million people.
The agreement with Visa was based on a condition that a subset of Visa card issuers struck direct settlements with Target and Visa.
Target also said that it is now working for a similar agreement with MasterCard for its card issuers.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataEarlier, MasterCard rejected a proposed $19m settlement when an insufficient number of issuing banks refused to accept the deal.
