Visa/Mastercard Interchange Fee Settlement
If your business accepted Visa and/or Mastercard payments between 2004 - 2019, you're now eligible to claim your share of a $5.5 billion Settlement.
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.
Disclosure: Hiring a lawyer is an important decision and should not be based solely on advertisements. This notification is designed for general information purposes only and should not be construed as legal advice, nor does the information contained in this notification create an attorney/client relationship. This notification is for informational purposes only and is not legal advice nor an endorsement or recommendation of Biz Head Law. The attorneys do not guarantee any particular result and prior results do not guarantee a similar outcome. This notification may be considered Attorney Advertising. 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 similar to the engagement outlined herein to participate in any monetary relief. The Class Administrator and the Rule 23(b)(3) Class Counsel (“Class Counsel) are available at no cost to Client for assistance with understanding and filing Client’s Claim during the claims-filing period.
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. No payments are expected to be made until 2-3 months after the end of the Claims Period on February 4, 2025.
How Can Our Law Firm Partner, Biz Head Law, Help?
The Tax Incentives Hub’s law firm partner, 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.
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.
The Deadline is Almost Here.
The claim submission deadline is 2/4/2025, just a few months from now. If you are interested in retaining our services to represent your business, please click here to get started.
Find out if you qualify for a Visa/MC settlement.
