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What was alleged in the case?

This settlement resolves longstanding merchant allegations that Visa, Mastercard, and other banks engaged in anti-competitive practices, driving up interchange fees and harming businesses across the nation.

What’s an interchange fee?

When a cardholder purchases something with a payment card, an interchange fee of about 1 to 2% of the total purchase price is added to those transactions. These fees are typically the greatest part of the total fees paid by merchants for accepting Visa and Mastercard cards.

Who is eligible to make a claim?

From small businesses to large corporations, the claimant class is vast. Any U.S. entity that accepted Visa or Mastercard credit or debit cards from January 1, 2004, to January 25, 2019, is eligible.

What is the current case status?

The time for appeals has passed and the settlement became effective on August 8, 2023. Claim forms are being delivered to approximately 18 million class members and are available online beginning December 1, 2023. The claim filing deadline is August 30, 2024.

How will your award be determined?

The calculation will consider the interchange fees your business paid during the 15-year period, the total amount of interchange fees paid by all class members during this period, and the total number of valid claims that are submitted. The settlement administrator will then calculate each claimant's pro rata share of the settlement fund based on this formula.

While the exact amount a merchant will receive will depend on several factors, CCC's advanced tools and unique expertise enable us to provide a confident assessment of your claim's worth. Try the bid estimator to find out what CCC may be willing to pay to purchase your claim. To learn more and have us run the numbers for you, call our specialists or send an email today.

About the Payment Card Interchange Fee Settlement

The long-running Visa/Mastercard (V/M) litigation officially known as the “Payment Card/Interchange Fee & Merchant Discount Antitrust Litigation (MDL. No. 1720)” has finally settled — and whether you're a current or former business owner, it could represent a windfall opportunity.

What it's about
This historic antitrust settlement will compensate a vast range of U.S. merchants that have paid interchange fees on payment card transactions. The case alleges that Visa and Mastercard colluded to overcharge interchange fees from some 16 million businesses from 2004-2019. Eligible class members who submit approved claims will be eligible for a slice of the $5.4 billion pie.

How to take advantage
The claim filing window opens in December, 2023, with claim notices being sent to 18 million class members. We're here to arrange for a precise and timely claim on your behalf, and even monetize your pending claim for immediate cash. Just start with our online monetization calculator on this site, or contact us for help.

Answers to your key questions
See answers to your most-asked questions on our FAQ page. For comprehensive details, be sure to check out the FAQ on the administrator’s website at paymentcardsettlement.com, and note that you can independently file a claim for your business when claim forms become available.

Have questions?
We're happy to help. Send a note to info@certificateclearing.com, or call 312-204-6969.

Case Name

Payment Card Interchange Fee and Merchant Discount Antitrust Litigation (MDL No. 1720)

Settlement Fund

$5.54 Billion

Class and class period

Any company that accepted Visa and Mastercard branded cards as a form of payment between January 1, 2004, through January 25, 2019

Claim Filing Deadline

February 4, 2025