You're Missing Out! Visa Mastercard $6 Billion Settlement -Stake Your Claim

Published on

October 29, 2024

If you're a business owner who has accepted Visa or Mastercard payments between 2004 and 2019, you may be entitled to a part of the $6 billion settlement reached in the Visa-Mastercard lawsuit. This settlement stems from claims that these credit card companies unfairly inflated fees charged to businesses.

Here’s everything you need to know to understand this settlement and find out if your business qualifies for compensation.

What is the Visa-Mastercard Settlement?

The $6 billion settlement is the result of a class-action lawsuit filed against Visa and Mastercard by merchants who argued that the credit card giants conspired to fix swipe fees, or interchange fees. These fees are charged to merchants every time a customer makes a purchase with a Visa or Mastercard. Merchants argued that these fees were too high and unfairly controlled by Visa and Mastercard.

After years of litigation, Visa and Mastercard agreed to pay a settlement to resolve the claims.

How Does Your Business Qualify?

To qualify for part of this settlement, your business must meet the following criteria:

Accepted Visa or Mastercard payments between January 1, 2004, and January 25, 2019. Your business must have processed these credit card payments during this time frame.

No need to join a separate lawsuit: If your business meets the above criteria, you are automatically part of the class of merchants eligible for compensation.

No action required if you previously opted out: If your business opted out of earlier settlement agreements related to this case, you will not be eligible to participate unless you opted back in before the deadline.

How Much Can You Expect?

The exact amount your business can receive will depend on factors like the volume of Visa and Mastercard transactions your business processed over the settlement period. Larger businesses that processed more payments are likely to receive a bigger share of the settlement.

While it may take time for claims to be processed and payouts to be distributed, the settlement is legitimate, and eligible businesses should expect a portion of the funds once the process is complete.

Why This is Not a Scam

Given the significant amount of money involved, it’s understandable to be cautious. However, this settlement is *not* a scam. Here are a few key points to ease any concerns:

Legal background: The settlement is the result of a long-standing legal case in federal court. It's a legitimate outcome of a class-action lawsuit.

No upfront payments: If anyone contacts you requesting money to help you file a claim, that’s a red flag. The claims process does not require any payment to file.

Real benefits to businesses: Thousands of businesses across the U.S. are part of this settlement and could see real financial benefit from the compensation.

What Should You Do Next?

If your business qualifies for compensation, here are a few simple steps you can take:

1. File a claim: If you believe your business qualifies, visit the official settlement website and file a claim. You will need to provide documentation of the Visa and Mastercard payments your business processed between 2004 and 2019.

Complete this simple form. CLICK HERE.

2. Review legal notices: If your business is eligible, you may have received a notice in the mail or via email with more information. Keep an eye on these communications.

3. Be patient: The settlement distribution process may take time, but be assured that it is legitimate and compensation will be distributed once claims are verified.

Final Thoughts

The Visa-Mastercard settlement represents a significant financial opportunity for businesses that accepted these payments between 2004 and 2019. While it may seem too good to be true, this is not a scam, and businesses are encouraged to file a claim if they meet the eligibility criteria. Take advantage of this chance to recover some of the fees your business may have been overcharged during the settlement period.