Deadline to File

It is about the interchange fees that merchants accepted via Visa or Mastercard credit or debit cards between January 1, 2004, and January 25, 2019, and the court determined excessive interchange fees that they charged merchants during this time period.

In this case, the settlement is the result of careful deliberation and extensive mediation. The settling of this case allows the various eligible class members to receive compensatory payments. After many years of analysis and litigation, the parties agreed to settle this case. During discovery, Plaintiffs were able to review more than 60 million pages of documents and more than 550 depositions.

Under this settlement, Visa, Mastercard, and the Bank Defendants have agreed to provide over $5.5 billion to the various merchants that did not remove themselves from the Class Action Settlement.

You must file a valid claim to receive money from this Settlement. The form is simple to fill out and generally takes only a few minutes. It will require your correct contact information, your company title, a declaration of your ability to sign for the company, and the company's appropriate Tax ID number, etc. You will not need to input all of your Mastercard and Visa swiping records, as your entered Tax ID will automatically generate that for you on your behalf.

Payouts will be based on both your company's actual and estimated interchange transaction fees tied to the Visa and Mastercard volume, charged by your company to its customers, from January 1, 2004, to January 25, 2019. The amount of compensation each Authorized Claimant will receive from the settlement fund will depend on 1) the money available to pay all claims, 2) the aggregate dollar value of all the valid claims that are filed, 3) the various costs of the class administration and notice, 4) the applicable taxes on the settlement fund, and 5) any of the other applicable tax expenses, attorneys’ fees, and related expenses, as well as the various monetary awards, as approved by the court.

Payments are anticipated to be made after the end of the Claims Period on February 4, 2025, as the pro rata cannot be determined until all the Claims are filed and reviewed, and the Court approves the final amounts. As a result, it is not yet known when exactly the payments will be made, and your patience is requested.

Once your Claim has been submitted, it will then be reviewed by the Class Administrator. If it is determined that additional information is needed, you will then be contacted to submit that required information. Please be aware that the processing of claims may take considerable time. Please be aware that it is your responsibility to update your contact information if it changes. 

We will only charge you a fee if your claim qualifies and is approved, and you receive a payment from the class action settlement. Otherwise, no fee is either owed or will be requested. Our third-party filing fee is 25% of your gross settlement amount. 

In coordination with the settlement administrator, we will then inform you (via your contact details submitted) if, in fact, you do not qualify.