Visa Master Card Settlement Claim is near, don’t miss out on the dates! If your business accepted Visa or Mastercard payments between January 1, 2004, and January 25, 2019, you may be entitled to a share of the massive $5.6 billion Payment Card Interchange Fee Settlement. With the claim deadline approaching February 4, 2025, now is the time to act and secure your rightful compensation.
This Visa Master Card class action settlement, also known as the “Payment Card Interchange Fee Settlement,” resolves a longstanding antitrust lawsuit against Visa and Mastercard. Merchants accused the payment giants of conspiring to impose high “swipe fees” while enforcing rules that restricted merchants from steering customers toward alternative payment methods. Here’s everything you need to know about the settlement and how to file your claim before the deadline.
Background of Visa Master Card Settlement
The Visa Master Card lawsuit, titled In re: Payment Card Interchange Fee and Merchant Discount Antitrust Litigation (MDL No. 1720), began in 2005 and spanned nearly two decades of legal battles. Initially valued at $7.2 billion in 2013, the settlement amount was reduced to $5.6 billion after several merchants opted out to pursue separate lawsuits. The final settlement was upheld in March 2023.
This landmark case affects approximately 18 million businesses that accepted Visa or Mastercard transactions during the specified timeframe. The alleged “swipe fees”—typically 1% to 2% of the purchase price—were at the heart of the dispute, as merchants claimed these fees were inflated through anti-competitive practices.
Who is Eligible for Visa Master Card Settlement?
To qualify for a share of the settlement, your business must have accepted Visa or Mastercard debit or credit card payments at any point between January 1, 2004, and January 25, 2019. This broad eligibility criterion ensures that millions of merchants can benefit from the settlement.
How to File a Visa Master Card Settlement Claim
Filing a claim is the only way to receive compensation from this settlement. The process is straightforward, and you don’t need a Claimant ID or Control Number to get started. Here’s how you can file your claim:
- Visit the Settlement Website: Go to the official settlement website at https://www.paymentcardsettlement.com/en to access claim forms and detailed instructions.
- Submit Your Claim: Complete and submit the claim form online. If you received a mailed claim form with a Claimant ID and Control Number, you can use these details for quicker processing. However, they are not mandatory.
- Seek Assistance If Needed: The settlement administrator and class counsel are available at no cost to help you navigate the claims-filing process.
Visa Master Card Settlement: Why Act Now?
Time is running out, and the deadline to file your claim is February 4, 2025. While additional claim forms will be mailed through the end of October 2024, there’s no reason to wait. Filing your claim early ensures that you have time to address any issues or complications that might arise.
Visa Master Card Settlement: Key Dates to Remember
| Date | Event |
| October 20, 2005 | The Visa Mastercard class action was filed |
| December 13, 2013 | Initial settlement of $7.2 billion approved. |
| June 30, 2016 | Federal Appeals Court overturns the settlement. |
| September 18, 2018 | Parties agree to a revised settlement of $5.6 billion. |
| March 15, 2023 | Visa Master Card Final settlement upheld. |
| December 1, 2023 | Claim forms mailing begins. |
| August 8, 2024 | The deadline extended to February 4, 2025. |
| February 4, 2025 | Final date to file Visa Master Card Class Action claims. |
Tips for Successful Filing Visa Master Card Settlement Claim
- Double-Check Your Information: Ensure that all details provided on the claim form are accurate and complete.
- Keep Records Handy: If possible, have documentation of your Visa and Mastercard transactions during the eligibility period. This can help substantiate your claim.
- Seek Expert Help: If you’re unsure about the process or encounter difficulties, consult with legal experts like those at LegaFi to guide you.
Is This Visa Master Card Settlement Legitimate?
Yes, the Payment Card Interchange Fee Settlement is entirely legitimate. Top Class Actions, a trusted source for class action news, has been reporting on this case since it began. The settlement has been reviewed and approved by the U.S. District Court for the Eastern District of New York, ensuring its validity.
Don’t Miss Out on Your Visa Master Card Settlement Share
This is a once-in-a-lifetime opportunity for businesses to recoup a portion of the fees paid to Visa and Mastercard over 15 years. The $5.6 billion settlement is designed to provide meaningful compensation to merchants who were affected by the alleged anti-competitive practices of these payment giants.
Act now to ensure you don’t miss out. Visit https://www.paymentcardsettlement.com/en to start your claim process today. Remember, the clock is ticking, and February 4, 2025, will be here before you know it. Secure your share of the settlement and take a stand against unfair practices in the payment industry.