The 2nd U.S. Circuit Court of Appeals in New York said the accord was unfair to retailers that stood to receive no payments and, in the court's view, little or no benefit at all. It also decertified the case as a class action.

Under the deal, merchants would give up their rights to sue in the future, regardless of whether they received a piece of the money. Merchants would also be allowed to charge higher prices when consumers paid with credit cards, which are typically more expensive for them to process than debit cards.
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“This ‘settlement’ was never a settlement on behalf of the retail industry but rather a back-room deal that failed to represent the interests of retailers,” said Mallory Duncan, the senior vice president and general counsel for the retail group, which joined in the appeal of the 2012 settlement.
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In an interview, Mr. Duncan said that individual merchants would ultimately end up with an insignificant amount of money from the deal. The ban on surcharging customers for credit card payments had not really been lifted for the industry either, he said. Instead, the card networks just “rewrote the rules.”

“Ninety percent of merchants still can’t surcharge, even if they wanted to,” he said.

The rule changes MasterCard and Visa agreed to make would offer no relief at all to large swaths of the class, such as merchants that also accept American Express and those in states that do not allow fee surcharges.