Unlocking Your Part of $5.54 Billion
How Merchants of All Sizes Can Claim Their Share of the Settlement with Visa and Mastercard
A historic settlement has created an extraordinary opportunity for merchants across the United States. The $5.54 billion Payment Card Interchange Fee Settlement involving Visa and Mastercard is a direct result of a class-action lawsuit alleging excessive interchange fees and anticompetitive practices. For merchants, this settlement represents a chance to recover funds lost between January 1, 2004, and January 25, 2019. Yet, as of June 2024, only 1.9% of eligible businesses have filed claims. Here’s how businesses of all sizes can seize their share of this massive fund.
Understanding the Settlement
The settlement addresses allegations that Visa and Mastercard violated antitrust laws by imposing high interchange fees and limiting merchants' ability to guide customers toward lower-cost payment methods. The settlement is a direct result of the class-action lawsuit over these excessive interchange fees and anticompetitive practices. For merchants, this settlement represents a chance to recover funds stolen between January 1, 2004, and January 25, 2019. The settlement fund is fixed, and payouts will be proportional to the claims submitted, meaning the fewer claims made, the more significant the potential recovery per claimant.
Key Facts
Eligibility: Any U.S.-based merchant accepting Visa or Mastercard payments between January 1, 2004, and January 25, 2019.
Deadline: Claims must be filed by February 4, 2025.
Payouts: Based on estimated interchange fees during the settlement period.
Merchant Opportunity
Despite the significant funds available, the opportunity remains largely untapped. 98.1% of businesses have yet to file claims. Large corporations like Walmart and Amazon have already received their compensation directly, leaving a larger pool for smaller merchants. Businesses across all industries—from conglomerates to small retailers—stand to benefit, as long as they act promptly.
Beyond any retail company is Healthcare
Healthcare organizations have the opportunity to recoup huge.
Most people use credit cards to pay for their healthcare in the US.
14% of patients use credit cards for primary care.
94% of patients use credit cards for dentistry.
26% of patients use credit cards for cosmetic surgery.
26% for veterinary care.
17% for audiology.
17% for eye care.
24% of adults with past-due medical bills.
If you are a healthcare organization, make sure you learn how you can make your claim...
Steps to File a Claim
To ensure your business claims its rightful share, follow these steps:
1. Evaluate Your Eligibility
2. Initiate the Process
3. Maximize Your Claim
4. Track and Follow Up
Why Small and Medium Businesses Should Act Now
Unlike major corporations, small and medium-sized businesses often lack the resources to pursue settlements like these. However, with tools and services available to simplify the process, there’s no reason to miss out. Filing a claim is straightforward and takes as little as 2-5 minutes for initial setup. For eligible businesses, this could result in significant financial recovery, especially with fewer claims diluting the fund.
Avoiding Common Pitfalls
Don’t Wait Until the Last Minute: The deadline is February 4, 2025, but starting now ensures you have ample time to gather necessary documentation.
Engage Your Network: For larger organizations, ensure all subsidiaries and entities under your umbrella are included in your claim.
Use Trusted Services:?Beware of scams and only use reputable platforms like CardSettlement.org.
The Bottom Line
This is the only opportunity for U.S. merchants to reclaim funds that are rightfully theirs. Whether you’re a small retailer or a midsized company, the $5.54 billion settlement represents a significant financial recoupment that’s too good to ignore. With most eligible businesses yet to file, the window of opportunity is wide open—but only until February 4, 2025.
Where to Go Next
I have vetted a company out that is helping merchants across the country, to include several large healthcare organizations, take action today. They are helping their client secure their share of this landmark settlement.
Visit CardSettlement.org to begin the claims process and ensure your business reaps the benefits.