Deadline Approaching for Businesses to Claim Their Share of $5.5 Billion Payment Card Settlement

Urgent Reminder: Time is Running Out for Claims on $5.5 Billion Payment Card Settlement

As the final deadline approaches, millions of businesses across the United States need to act quickly to claim their share of the largest antitrust class-action settlement concerning payment card fees. The total fund is a monumental $5.5 billion, designed to compensate businesses that have been affected by inflated interchange fees charged by Visa and Mastercard.

Business owners have until February 4, 2025, to submit their valid claims. This urgency cannot be understated; with only a month remaining, every eligible business owner must file to secure their rightful portion of this substantial settlement.

Who is Eligible to Claim?

The criteria for eligibility are straightforward. Any business, regardless of size, that accepted Visa or Mastercard payments between January 1, 2004, and January 25, 2019, qualifies to participate. This means that even businesses that have since declared bankruptcy, closed down, or changed ownership can still file claims, provided they act before the impending deadline.

How to Submit Your Claim

Filing a claim for this settlement is designed to be as easy as possible. Here's how business owners can proceed:
1. Online Submission with QR Code: Millions of businesses received claim forms through the mail. Owners can scan the QR code found on their forms, which directs them to a secure, tailored page containing their business information for validation.
2. Online with TIN: Business owners lacking a mailed form can utilize their Tax Identification Number (TIN) on the portal to confirm their identities. The process is straightforward and requires documentation to prove their authorization to file a claim on behalf of the business.
3. Postal Submission: Claims can also be submitted by traditional mail. Detailed instructions can be found on the claims portal.

No fixed compensation amounts are guaranteed; awards will be calculated after all claims are received and validated. Payments will reflect the total value of transactions by qualified payment cards, and amounts could range from hundreds to thousands of dollars per claimant.