Payment Card Interchange Fee Settlement: Important Information for Merchants
Updated May 14, 2024: New Deadline for Filing Claims
On May 14, 2024, the Court extended the deadline for submitting claims. Merchants now have until August 30, 2024, to file their claims. If you received a Claim Form in the mail, you can use the Claimant ID provided to file a claim online by clicking the "Submit a Claim" button below. If you did not receive a claim form, you can still start the claim filing process by clicking the "Submit a Claim" button below and providing your Taxpayer Identification Number.
What is the Lawsuit About?
The lawsuit addresses claims that merchants paid excessive fees to accept Visa and Mastercard cards. The allegation is that Visa and Mastercard, both individually and in collaboration with their respective member banks, violated antitrust laws, resulting in inflated fees for merchants.
Who is Included in the Settlement?
The settlement defines a Rule 23(b)(3) Settlement Class, which includes:
- All persons, businesses, and other entities that accepted any Visa-Branded Cards and/or Mastercard-Branded Cards in the United States at any time from January 1, 2004, to January 25, 2019.
Exclusions to the Settlement Class:
- Dismissed Plaintiffs: These are plaintiffs who previously settled and dismissed their own lawsuit against a Defendant and their related entities.
- The United States Government.
- Named Defendants in this Action: Including their directors, officers, or family members.
- Financial Institutions: Those that issued Visa-Branded or Mastercard-Branded Cards or acquired transactions involving these cards during the specified period.
If you're unsure whether you are a Dismissed Plaintiff, you can call 1-800-625-6440 or view the list of Dismissed Plaintiffs for more information.
Important Notice for Merchants
Merchants who accepted Visa and Mastercard from January 1, 2004, through January 25, 2019, should pay close attention to this notice. It contains critical information about the settlement in this class action lawsuit, explaining your rights and options.
The court has also issued a "Notice of Exclusion" to the Dismissed Plaintiffs, along with additional notifications to merchants explaining their right to file claims.
Understanding the Settlement Terms
For the complete terms of the Settlement, refer to the Superseding and Amended Definitive Class Settlement Agreement of the Rule 23(b)(3) Class Plaintiffs and the Defendants, along with its Appendices (the "Class Settlement Agreement"). You can access this agreement here or by calling 1-800-625-6440.
In case of any discrepancies between the terms outlined in the Notice or this website and the Class Settlement Agreement, the terms of the Class Settlement Agreement will prevail.
Stay Informed
Please regularly check this website for updates regarding the settlement or the settlement approval process. Staying informed will help ensure that you do not miss any critical information or deadlines related to your claim.
Filing Your Claim
To file a claim, click the "Submit a Claim" button below. Follow the instructions to either use your Claimant ID (if you received a Claim Form in the mail) or provide your Taxpayer Identification Number to begin the process.
For additional assistance or information, you can call 1-800-625-6440.
Summary
The Payment Card Interchange Fee Settlement involves allegations that Visa and Mastercard charged merchants excessive fees, violating antitrust laws. The settlement includes all entities that accepted Visa and Mastercard from January 1, 2004, to January 25, 2019, with some exceptions. Merchants have until August 30, 2024, to file claims. For detailed settlement terms and further assistance, refer to the Class Settlement Agreement or contact the provided helpline. Stay updated by visiting this website regularly.
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