Claim Your Share of Payment Card Settlement

By BMeier | Champion A Strong Economy | 0 comment | 3 January, 2024 | 0

What happened: Last week, we reported on a class-action lawsuit that reached a settlement against the credit card duopoly.

What you need to know: This Payment Card Settlement is the biggest antitrust class-action settlement in history.

By the numbers: It sets aside at least $5.54B and a maximum of $6.24B for millions of U.S. merchants who, for years, paid artificially inflated Visa and Mastercard swipe fees.

Why it matters: If a restaurant operator accepted Visa and/or Mastercard at any time between Jan. 1, 2004, and Jan. 25, 2019, they are likely entitled to a share of the settlement.

How to claim your share: You can submit a claim through the official court-authorized Payment Card Interchange Fee Settlement website. The easiest way to submit a claim is to wait for the claim form to arrive in the mail and use the Claimant ID and Control Number provided to log in.

If you received a Claim Form in the mail and want to file a claim online using the Claimant ID provided, you can click the “Submit a Claim” button found on the Payment Card Interchange Fee Settlement website.
If you do not receive a claim form and are uncertain as to whether you are a merchant that is eligible to file a claim in this settlement, also click the “Submit a Claim” button found on the Payment Card Interchange Fee Settlement website. After providing your Taxpayer Identification Number along with some additional information, the Class Administrator will attempt to determine whether you qualify.

Need to know: Operators can file claims on their own, free of charge, by following the instructions above. Additionally, operators are entitled to free assistance in understanding and filing a claim form.

To access this assistance, operators can contact the Class Administrator at 1-800-625-6440 or info@PaymentCardSettlement.com.

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Claim Your Share of Payment Card Settlement

Claim Your Share of Payment Card Settlement

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