Deadline Approaches for Huge Visa/MasterCard Lawsuit Settlement Claims
Payment Card Interchange
Fee Settlement
Official Court-Authorized Settlement Website
Updated May 14, 2024: In an Order dated May 14, 2024, the Court granted an extension of the claims-filing deadline. The deadline to submit claims is August 30, 2024. If you received a Claim Form in the mail and want to file a claim online using the Claimant ID provided, please click the “Submit a Claim” button below. If you did not receive a claim form, you can start the claim filing process by clicking the “Submit a Claim” button below and providing your Taxpayer Identification Number.
Are you a business that accepted Visa and/or MasterCard credit or debit cards in the U.S. during the period January 1, 2004 to January 25, 2019? If so, you may be entitled to a payment stemming from a massive $5.5 billion settlement that resulted from a lawsuit filed all the way back in 2005.
The lawsuit accused Visa and MasterCard (and related member banks) of antitrust law violations and charging excessive fees to merchants. Eventually settled, a $5.5 billion fund was set up to provide payments for eligible businesses, including those that in the meantime have gone bankrupt or otherwise closed.
Time is running out, however, for making a claim, and it seems that most businesses aren't even aware of it. The deadline to file a claim is May 31, 2024, and only those businesses that file by the deadline will receive a payout. How much money each will get won't be known until all claims have been filed and validated.
Claim forms for some potential recipients were mailed out in December 2023 and January 2024. If you received a form, a claim can be filed by simply completing it and mailing it in. However, just because you didn't receive a claim form doesn't mean you cannot file a claim. Whether you received a form or not, a claim can be filed online at paymentcardsettlement.com. Court documents and full terms and conditions of the settlement can also be found at that link, as well as informative FAQs.
Submission of a claim appears to be relatively simple and only takes a few minutes. If you received a claim form, you will need the Claimant ID and Control Number from the form to file online. If you don't have a claim form, come armed with a Taxpayer Identification Number and business name for each business for which you are making a claim.
