#Visa Settlement #Mastercard Settlement #Claim Process

Huge Settlement for Eligible Businesses

Time is of the essence for millions of businesses across the United States to claim a portion of a staggering $5.5 billion antitrust class-action settlement involving Visa and Mastercard. With only until February 4, 2025, left to submit claims, business owners are urged to act swiftly and ensure they don't miss this unprecedented opportunity.

Background of the Settlement

The monumental settlement marks the conclusion of a lengthy 19-year legal battle stemming from allegations against Visa and Mastercard for charging inflated interchange fees to businesses. These fees represent the cost that merchants incur to accept credit and debit card payments, and the settlement may provide much-needed financial relief to many businesses that have faced these costs for years.

Who is Eligible?

The eligibility criteria for the settlement are broad, allowing any business that accepted Visa and/or Mastercard transactions within the specified period—from January 1, 2004, to January 25, 2019—to file a claim. This includes both operational and defunct businesses, allowing even those that have filed for bankruptcy or changed ownership to qualify for the settlement. The key point is that claims must be filed, without exception, by the upcoming deadline.

How to File a Claim

Filing for the settlement is designed to be straightforward and can typically be completed in under five minutes. Businesses can submit their claims through several methods:

• - Online via Claims Portal: Business owners can go to PaymentCardSettlement.com to easily file their claims.
• - Using QR Codes: For those who received claim forms in the mail, scanning the included QR code allows for quick access and pre-filled information.
• - Tax Identification Number (TIN): Those without mailed forms can submit their claims online by confirming their identity with their TIN and completing the straightforward steps.
• - Mail Submission: Although less common, businesses can also send in their claims through traditional mail, following the provided guidelines on the claims portal.

Expected Payments

While the final payout amount will vary based on multiple factors—such as transaction value and the total number of claims filed—businesses can receive amounts ranging from nominal payouts to substantial sums that may reach into the thousands or even more. This variability is due to the calculated distribution of the settlement, which will take place after the claims are fully processed and verified.

Seeking Guidance and Resources

In light of the approaching deadline, co-lead counsel on the case, **Alexandra