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Target reaches deal with Visa over 2013 data breach

Target reaches deal with Visa over 2013 data breach

Target Corp. has reached a settlement with Visa over a massive data breach in 2013 that compromised the private data of millions of shoppers.

The big-box retailer will pay up to $67 million to Visa and its card issuers, according to a person with knowledge of the deal who wasn't authorized to speak publicly.

This deal comes a few months after a $19-million settlement with MasterCard Inc. to settle lawsuits resulting from the breach fell apart due to insufficient support from banks and credit unions.

"Target is pleased that we have reached a settlement agreement with Visa related to the data breach," the company said in a Tuesday statement.

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