Visa & Mastercard Settlement

Merchants that accepted Visa and/or Mastercard since January 1, 2004 may be eligible to receive payment. Learn more here.

What is this settlement about?

The proposed settlement is in response to a lawsuit that maintains Visa, Mastercard, and their respective member banks violated the law by setting interchange fees and then enforcing rules that made it difficult for merchants to steer customers towards other payment methods. This resulted in excessive fees for merchants to accept Visa and Mastercard transactions.

Merchants that accepted Visa and Mastercard transactions since January 1, 2004, may receive payment and other benefits from this settlement.

Am I part of this settlement?

This case involves two Settlement Classes, both of which included individuals, businesses and other entities who accepted Visa-branded cards and/or Mastercard-branded cards in the United States since January 1, 2004. Individuals, businesses, and other entities may be included in one or both groups.

  • The Cash Settlement Class: Accepted Visa-branded cards and/or Mastercard-branded cards in the United States at any time from January 1, 2004 to November 28, 2012.
  • The Rule Changes Settlement Class (Interchange Fund): Accepted Visa-branded cards and/or Mastercard-branded cards in the United States at any time from November 28, 2012 and beyond.

If a Long-Form Notice was mailed to you, the records provided to the Class Administrator indicate that you are probably included in the settlement.

What is the status of the settlement?

The Court granted approval to the settlement on December 13, 2013; however, the decision is currently being appealed. Claim forms will not be available until all appeals are resolved. It is unknown how long the appeals process will take.

How much money will I get?

Although unknown at this time, it is anticipated that the amount paid from the Cash Settlement Fund will be based on your actual or estimated interchange fees related to Visa and Mastercard transactions from January 1, 2004 through November 28, 2012. The amount paid from the Interchange Fund will be based on one-tenth of 1% of your Visa and Mastercard credit card transaction volume during an eight-month period from July 29, 2013 through March 29, 2014.

Details about how all claims are calculated are included in the Settlement Plan of Administration and Distribution and in Additional Information Concerning the Plan of Administration and Distribution.

How do I file a claim?

Claim Forms are not currently available. The Court is expected to approve a Claim Form and determine when the Claim Form needs to be sent to Class Members. Claim Forms will then be mailed to known Class Members and posted on this website.

Who decides the value of my claim?

The Class Administrator has obtained data from the Defendants that will be used to calculate the value of each Class Member’s claim.

  • For the Cash Settlement Fund: The data provided will be used to the greatest extent possible to estimate the interchange fees attributable to each Class Member during the period from January 1, 2004 to November 28, 2012 with no netting or reductions based on rebates, market support or promotional payments or otherwise. Where the necessary data is not available, or the information obtained by the Class Administrator is disputed, Class Members will be required to submit information to support their claims.
  • For the Interchange Fund (Rule Changes Settlement Class): The Class Administrator will calculate the value of claims based on one-tenth of 1% of your Visa and Mastercard credit card transaction volume during an eight-month period from July 29, 2013 through March 29, 2014. If available data explicitly specifies a particular claimant’s sales volume, this data will be utilized. If data is not available, claimants will be asked to submit payment card transaction volume.

Payments will not be issued to valid claimants until all appeals have been resolved and the settlement has become final. It is not known how long that will take. Please be patient.

More details about how claims are calculated can be found in the Settlement Plan of Administration and Distribution and in Additional Information Concerning the Plan of Administration and Distribution.

Do I need to use a third-party claim filing service?

Specialized companies, often called third-party claim filing services, may offer to fill out and file your claim in return for a percentage of the value of your claim. If you received an unsolicited email, phone call, or other communication regarding this settlement, other than the Court-approved notices, it was likely from a third-party claim filing service.

You are not required to use a third-party claim filing service to collect a settlement payment. Before you sign a contract with one of these companies, you should examine the claim-filing process outlined on the settlement website and decide whether it is worth the cost. Because a Claim Form is not yet available, you may want to wait to decide whether to hire a company to submit your claim.

What if I have more questions about this settlement?

A Frequently Asked Questions (FAQ) section is available on the Official Court-authorized settlement website. Click here to access it. Updates will posted on the settlement website as soon as they’re available.

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