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[Step-by-Step Instructions] Claim Your Share of a $5.5 billion Visa/Mastercard Settlement




Have you heard on the news? Business owners who accepted Visa or MasterCard may be eligible to benefit from a $5B class action settlement. This is the result of antitrust cases. In 2005, retailers brought a case against Visa and MasterCard for allegedly trying to fix the high credit card processing fees while imposing rules that prevent customers from using alternative payment methods. The case was settled in March 2023. 


Any persons, businesses, or other entities that accepted any Visa- and/or Mastercard-branded cards in the United States at any time from Jan.1, 2004 to Jan. 25, 2019 are eligible to receive a portion of the $5B settlement.


The filing opened on Dec.1, 2023, and will continue until May 31, 2024. Claim forms are being mailed out via USPS throughout January 2024. 


Did you receive your claim form? Wondering what to do next? Here is a step-by-step instruction for you. 

 

Step 1


Visit the website: https://www.paymentcardsettlement.com/ and press “Submit a Claim”.




Step 2


Check if you have received the claim form through mail. If so, enter the Claimant ID and Control Number located in the middle of the Claim Form you were mailed. Then, you are ready to submit the claim.




Step 3


If you did not receive the mail at this point, no worries! Let’s press the “Provide TIN” button on the right side.




Step 4


Now, start to fill in the information on this page.When you are done, press “Create account”. Then, you should be receiving the mail with the Claimant ID and Control Number within a few weeks. Once you receive it, go back to step 2.



Once your Claim is submitted, it will be reviewed by the Class Administrator. You will be contacted if additional information is needed from you.


Accurate processing of claims may take significant time. Thank you for your patience.


*Please note: It is your responsibility to update the Class Administrator if you move or your contact information changes. You may provide your updated contact details to the Class Administrator at the following address:


Payment Card Interchange Fee Settlement


P.O. Box 2530


Portland, OR 97208-2530

 


FAQ


1. Am I eligible?


Any individual, business, or entity who accepted Visa- and/or MasterCard-branded payments between Jan.1, 2004 to Jan. 25, 2019 is eligible to receive a portion of this settlement.

 


2. When’s the deadline?


The filing period is from Dec.1, 2023 to May 31, 2024.

 


3. What documents do I need to file?


Provide any processing statements you have from 2004 to 2019. If you do not have all of them, there’s no need to panic, just submit as many as you can.

 


4. How much will I get in compensation?


The value of each claim is based on the actual or estimated interchange fees attributable to the merchant’s Mastercard and Visa payment card transactions from Jan. 1, 2004, to Jan. 25, 2019.


 

5. When will I receive my compensation?


No payment is expected to be made before May 31, 2024.

 

Have more questions after reading this? Please feel free to contact the CNPP team for a free 1 on 1 consultation. Ask us anything!


Phone: 212-835-2485

 


CNPP is a nonprofit, government-sponsored program designed to help small and medium-sized businesses across the United States, to help socioeconomically disadvantaged businesses gain access to adequate information and resources, and to help businesses recover and thrive from the outbreak by providing them with all types of professional counseling.





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