Class Action Case

Visa/Mastercard Interchange Fee Settlement

If your business accepted Visa and/or Mastercard payments between 2004 - 2019, you may be eligible to claim your share of a $5.5 billion Settlement fund

About the Class Action Case

The class action lawsuit involves interchange fees charged by Visa and Mastercard, along with their member banks, for merchants accepting their cards from 2004 to 2019. Plaintiffs argue that Visa and Mastercard unlawfully set these fees and enforced rules which stifled competition and kept fees high in violation of antitrust laws.

What is an Interchange Fee?

These are the fees charged to the merchant when a cardholder makes a purchase and usually constitute around 1% to 2% of the purchase price. They represent the largest portion of the fees merchants pay for accepting Visa and Mastercard cards.

How Much Am I Entitled to Receive and When Can I Expect to be Paid?

The amount each claimant receives will be based on the actual or estimated interchange fees paid and will depend on the total available funds, the number and value of valid claims, class administration costs, taxes, attorney fees, and awards to class plaintiffs. Because the pro rata distribution to claimants cannot be determined until all claims are filed and reviewed after the end of the Claims Period on February 4, 2025 and until the Court approves the final amounts, we do not yet know when payments will be made.

How Biz Head Law Can Help?

Biz Head Law offers representation to manage claims submissions and disputes related to the settlement amounts merchants are entitled to receive, charging a 25% contingency fee, payable only if a recovery is obtained. The firm is committed to ensuring businesses of all sizes have fair access to their full and rightful settlement amounts without the burden of upfront costs for external advisors or having to navigate the process on their own.

What Will I Have To Do?

You will have to sign an engagement agreement with Biz Head Law as well as a 3rd party authorization form establishing Biz Head Law’s authority to represent your business in the class action settlement. Unless you disagree with the summary by year of the credit card payments and related interchange fees provided by the Class Administrator, you will NOT need to provide any additional information or documentation to support your claim. Let us know if you have any questions by submitting the “Contact Us” form below.

Deadline

The claim submission deadline is February 4, 2025, just a few months from now. If you are interested in retaining our services to represent your business, please kindly complete the intake form below to begin the process.

Court Mandated Disclosure: Additional information is available to class members on the Court-approved website, www.paymentcardsettlement.com. There is no requirement that class members engage a third-party service to participate in any monetary relief. No-cost assistance will be available from the Class Administrator and Rule 23(b)(3) Class Counsel (“Class Counsel) during the claims-filing period.