Payment Card Interchange Fee and Merchant Discount Antitrust Litigation
This settlement resolves allegations that VISA, MasterCard, and their issuing banks violated the law by charging excessive interchange fees to merchants. The settlement received final approval on December 13, 2019, and the settlement fund will be approximately $5.54 billion. This settlement applies to all merchants who accepted VISA and/or MasterCard branded credit or debit cards as a form of payment between January 1, 2004, and January 25, 2019.
While no official claim form is available, and claimants do not need to sign up with any third-party service to receive monetary relief, it may be difficult to understand what information the defendants provide, how that information applies to your organization, and what additional information may be provided to ensure you file a comprehensive claim. If the court grants the settlement final approval and any appeals are resolved, the court will approve a claim process and establish a claim deadline.