Frequently Asked Questions
Payment Card Interchange Fee Settlement Overview
The Payment Card Interchange Fee Settlement compensates merchants for alleged excessive fees by Visa and Mastercard. If you accepted these payments during the specified period, you might be eligible. Here are some FAQs to guide you through the claims process:
What is the Payment Card Interchange Fee Settlement?
The Payment Card Interchange Fee Settlement is a legal resolution concerning allegations that Visa and Mastercard charged merchants excessive interchange fees from January 1, 2004, to January 25, 2019. The settlement involves a total fund of $5.54 billion to compensate eligible merchants who accepted these payment cards during that period.
Who is eligible to file a claim in this settlement?
Merchants who accepted Visa or Mastercard payments between January 1, 2004, and January 25, 2019, are eligible to file a claim for a portion of the settlement funds. This includes any business that processed card transactions with these brands during the specified time frame.
What is the deadline for submitting claims?
The deadline for submitting claims in the Payment Card Interchange Fee Settlement has been extended to February 4, 2025. Merchants should ensure they submit valid claims before this date to be considered for compensation from the settlement fund.
How can merchants file a claim for the settlement?
Merchants can file a claim through the court-authorized procedures or they can seek our professional assistance with no upfront fees.
Seize the Opportunity for Your Compensation
The U.S. District Court has promptly sanctioned a settlement, with a minimum value of $5.54 billion, for this case, available for a limited duration.