Settlement: Merchants to be Refunded $5.54-6.64 Billion
Lawsuit: In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, MDL 1720 (MKB) (JO)
In September 2018, a proposed settlement was reached in a lawsuit alleging Visa and Mastercard had overcharged merchants’ interchange fees, in violation of anti-trust laws.
As the settlement moves forward, merchants who accepted Visa or Mastercard payments between January 2004 and January 2019 are eligible to receive a portion of the settlement amount.
Any merchant who wishes to receive their portion of the settlement must opt-in once the opt-in window opens.
Verisave will be keeping a close watch on this situation as that window draws near, and will alert all clients to next steps.
Did you Accept Credit Card Payments Between January 2004 and January 2019?
Let's Calculate Your Portion of the Settlement
We will report back to you with:
- How much of the refund you can expect
- Whether your current Interchange fees are still being overcharged
- The overall health of your merchant account
- Any recommendations we have to optimize your rates outside of Interchange
To get started, upload a recent merchant account statement and answer a few initial questions below: