Visa Mastercard Fee Settlement: $5.5B
Visa Mastercard $5.5B Interchange Fee Settlement
Did your business accept Visa or Mastercard payments between January 1, 2004, and January 25, 2019? You might be eligible for the Payment Card Interchange Fee class action settlement which resolves a lawsuit where Visa and Mastercard were accused of conspiring to set high swipe fees and preventing merchants from suggesting alternative payment methods to customers. Businesses affected could reclaim some of the charges imposed by these companies and their banks.
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Claim Form
Click Here to Submit a ClaimWho's eligible?
The class includes millions of U.S. businesses that accepted Visa and/or Mastercard credit or debit cards between Jan. 1, 2004 and Jan. 25, 2019 and who did not previously opt out.
Proof of Purchase
Yes, proof is required.
Claim forms were mailed to merchants containing a Claimant ID and Control Number, yet some eligible business owners say they haven’t received one. If you do not have a Claimant ID and Control Number, you can provide your Taxpayer Identification Number along with some additional information, and the Class Administrator will attempt to determine whether you are a merchant that is eligible to file a claim in this class action settlement.
Settlement At a Glance
Settlement Amount
Varies
Claim Form Deadline
08/30/2024
Exclusion Deadline (Opt-Out)
07/23/2019
Final Approval Hearing
12/16/2019
Additional Information
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.
The lawsuit alleges that merchants paid excessive fees to accept Visa and Mastercard cards due to violations of antitrust laws by Visa, Mastercard, and their member banks.
The Payment Card Interchange Fee Settlement resolves this antitrust case, where retailers accused Visa and Mastercard of conspiring to fix high "swipe fees" while imposing rules preventing merchants from directing customers to other payment methods. These fees typically ranged from 1% to 2% of the purchase price.
Filed in 2005, the class action concluded in March 2023 after a series of legal battles. This settlement, presumed to compensate non-withdrawing merchants, encompasses about 18 million businesses that accepted credit or debit cards.
This settlement, totaling $5.54 billion, marks the largest private antitrust class-action settlement in U.S. history.
Think you might have a case? If you believe you've been affected by a similar situation, browse our list of Class Action Lawsuits and Open Class Action Settlements you may be able to join!
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Legal Representation
Case Name:
Class Counsel:
Robins Kaplan LLP
H. Laddie Montague, Jr.
Berger Montague PC
Alexandra S. Bernay
Robbins Geller Rudman & Dowd LLP
Defense Counsel:
Arnold & Porter Kaye Scholer LLP
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