Claim Deadline: August 30, 2024

Visa, Mastercard Merchant Fee Class Action Settlement

For years, business owners taking Visa and Mastercard have paid significant and excessive fees due to the credit card companies’ illegal conduct, a recently settled lawsuit claims.

Now, merchants who accepted these cards at any time from January 1, 2004 to January 25, 2019 may have the opportunity to get back some of these fees as part of a $5+ billion settlement.

Keep reading to find out more and why your business may be owed thousands of dollars back.

Visa, Mastercard Merchant Fee

Important Information: Attorneys working with ClassAction.org are no longer assisting in the claims process. You can, however, still find the settlement website for the Visa and Mastercard deal and submit a claim on your own right here. The claim filing deadline is August 30, 2024.

FAQs

What’s Going On?: A settlement of $5+ billion has been reached to resolve a class action lawsuit that claimed merchants paid too much in fees to accept Visa and Mastercard because the credit card companies and their member banks allegedly violated antitrust laws.

Specifically, the case claimed that the companies broke the law by imposing “no surcharge” rules and otherwise limiting merchants from steering customers to other payment methods.

Attorneys working with ClassAction.org are now signing up merchants who would like an experienced law firm to file their claim with the settlement.
Who’s Eligible for the Settlement?: The settlement covers all individuals, businesses and other entities that have accepted any Visa- or Mastercard-branded cards in the United States at any time between January 1, 2004 and January 25, 2019.
How Can I Benefit from Having an Attorney Handle My Claim?: Class action settlements and their claims processes are notoriously confusing and cumbersome. If you have an attorney file your claim, he or she can take care of everything — i.e., navigating the claim form, reviewing your business' financial data with the settlement administrator for accuracy, gathering documentation, disputing your claim amount, making sure your claim gets submitted on time, etc. All you’ll really need to do is review your completed claim form and sign off on it.

This is a historic and unprecedented settlement – and billions are on the table. If you have an attorney file your claim, he or she can do all the legwork for you and take the guesswork out of it.
How Much Could I Get?: The amount of your payment will be based on the actual or estimated interchange fees paid by your business for Visa and Mastercard transactions made between January 1, 2004 and January 25, 2019.

Factors that may influence your final award may include the total dollar value of all claims filed, administration costs, applicable taxes and more.
What Law Firm Am I Hiring?: The firm you would be hiring is Milberg Coleman Bryson Phillips Grossman, a pioneer in the class action space and widely recognized as a leader in protecting the rights of consumers.
What Does This Cost?: It costs nothing to sign up. The attorneys will only get paid if they obtain money on your behalf, and their payment will come as a percentage of your settlement award.

Settlement Disclaimer:

Claim forms are now being delivered and are also available online. Class members need not sign up for a third-party service in order to participate in any monetary relief. No-cost assistance is available from the Class Administrator and Class Counsel during the claims-filing period. For additional information, visit the Court-approved website www.paymentcardsettlement.com.

Milberg Coleman Bryson Phillips Grossman, PLLC has sponsored this content.