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Who is eligible to make a claim?

Eligibility extends to any U.S. business, regardless of size, that accepted Visa or Mastercard credit or debit cards between January 1, 2004, and January 25, 2019.

What was alleged in the case?

This settlement addresses longstanding claims by merchants that Visa, Mastercard, and several banks engaged in anti-competitive behavior, which increased interchange fees and adversely affected businesses nationwide.

What is an interchange fee?

An interchange fee, typically ranging from 1% to 2% of the total purchase price, is added to transactions when a cardholder makes a purchase using a payment card. These fees represent the largest portion of the total fees merchants pay for accepting Visa and Mastercard cards.

What is the current status of the case?

The settlement became effective on August 8, 2023, after the appeals period ended. Claim forms were sent to approximately 18 million class members and became available online starting December 1, 2023. The deadline to file a claim is August 30, 2024.

How will your award be determined?

The award calculation considers the interchange fees your business paid during the 15-year period, the total amount of interchange fees paid by all class members, and the total number of valid claims submitted. The settlement administrator will calculate each claimant’s pro rata share of the settlement fund based on this formula.

Will I need to produce my Financial Statements?

No, our legal team will use your EIN to determine the settlement amount your company is owed. If there is any dispute regarding this amount, our legal partners will diligently advocate on your behalf to substantiate your claim.

What if the company is no longer in business?

Thats no problem! Businesses that are no longer operating but WERE operating between 2004-2019 are still eligible.