Claim Your Share from Visa and Mastercard's Settlement Over Fee Overcharges
Businesses and not-for-profits have until February 4, 2025 to file claims for a $5.5 billion class-action settlement over alleged fee overcharges by Visa and Mastercard. Eligible entities include those that accepted Visa or Mastercard payments between January 1, 2004, and January 25, 2019, even if they have since closed or gone bankrupt. The settlement resolves a long-running antitrust case accusing the credit card giants of charging excessive interchange or "swipe" fees, which are paid by merchants to card issuers and networks for processing transactions.
How Do I File a Claim?
The process of confirming eligibility and filing a claim is straightforward. Visit the official court-authorized website and be prepared to provide minimal information including Taxpayer Identification Number (TIN) and support for authorization to request refund. Amounts of refunds have already been calculated in many cases, and will simply need validation by the business to request the claim. If you dispute the amount of calculated refund, you will also have the option to upload supporting documents to support a different refund amount. The official court-authorized website provides instruction on how to address any discrepancies.
Interested in Learning More?
USA Today and PR Newswire have published some helpful content on the topic.
