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.
Visit the Official Court-Authorized Settlement Website here.
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:
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