Claim Form Deadline: February 4, 2025
Proof Required: Yes
What is the Visa and Mastercard Settlement About?
A landmark $5.54 billion class action settlement has been reached with Visa and Mastercard over allegations of antitrust violations. The lawsuit claims that Visa and Mastercard engaged in anti-competitive practices by imposing unfair rules and fees on businesses.
The class action, which also involves numerous banks like Bank of America, Capital One, and Citi, alleges that businesses accepting Visa or Mastercard transactions between January 1, 2004, and January 25, 2019, faced unlawful “interchange” fees. The lawsuit asserts:
What is an Interchange Fee?
An interchange fee is a small percentage of the purchase price that cardholders pay when using a credit or debit card. This fee is a major component of the costs businesses incur for accepting Visa and Mastercard payments.
Do I Qualify for a Payout?
You may be eligible if you, your company, or other entities accepted Visa or Mastercard transactions in the U.S. between January 1, 2004, and January 25, 2019.
How Much Can I Get Paid?
The amount you receive will be based on the interchange fees you paid or estimated for Visa and Mastercard transactions.
How Do I File a Claim?
The court approved the settlement on December 13, 2019. Claim Form IDs began being sent out on December 1, 2023, and will continue to be distributed on a rolling basis. To be reimbursed, submit a claim form online or by mail by 11:59 PM PST on May 31, 2024. Use the QR code and secure website credentials provided on your claim form to file.
If you do not receive a claim form by mid-January or are unsure of your eligibility, contact the Class Administrator:
Claim Form Website: PaymentCardSettlement.com
Please be aware that your claim form will be rejected if it contains fraudulent information. By submitting your information and your sworn statement of its accuracy, you are agreeing to do so under penalty of perjury. Submitting false information not only jeopardizes your claim but also affects others who are genuinely eligible for the settlement. If you are uncertain about your eligibility for this class action settlement, please visit the class action administrator’s website for more information. Note that NoProofClassActions.org participates in the Amazon affiliate advertising program, and this post may include affiliate links, which could result in us earning a commission if you make a purchase through those links.