How to File Your Claim for the Settlement
Deadline to file: May 31, 2024
Visa and MasterCard recently settled a class action case (Payment Card Interchange Fee and Merchant Discount Antitrust Litigation) regarding the fees and rules involved with credit card interchange. As a merchant who accepted Visa or MasterCard at any time from January 1, 2004 to January 25, 2019, you are part of a $5.54 billion payout.
At Verisave, we want to ensure our clients understand the settlement and their options. You are not required to file, and if you do not file you will simply not receive any portion of the settlement.
If you do wish to file, you have two options.
- You can file on your own and receive no-cost assistance at: paymentcardsettlement.com
- You can retain a recovery firm to file on your behalf and manage the process for you
For those who wish to engage with a recovery firm, Verisave is partnering with Brownstone Recovery to provide you a choice of having them assist you with filing for a fee of 25% of any funds recovered. There is no up-front cost.
If you choose to retain Brownstone Recovery, they will provide:
- Settlement Tracking and Updates
- Merchant Support to Answer Questions
- No Upfront Fees for Claims Filing Services
Option 1: File On Your Own
Filing your own claim is fairly simple if you have the time.
You can do so by working with the official settlement administrator.
For more information, and contact details for no cost assistance, you can visit: paymentcardsettlement.com
Claim forms are not yet available and there is no necessity to file with a third-party provider.
Option 2: Retain a Recovery Firm
Verisave has teamed with Brownstone Recovery to assist with settlement claims.
If you would like Brownstone’s help, you can retain their services by filling out the form below.
Brownstone will keep 25% of your recovered funds, as payment.
Disclaimer: You can file yourself without using a claims recovery service like Brownstone by going to www.paymentcardsettlement.com or calling 1-800-625-6440. Claim forms are being delivered and are available online beginning December 1, 2023. Class members need not sign up for a third-party service in order to participate in any monetary relief. No-cost assistance is available from the Class Administrator and Class Counsel during the claims-filing period. Additional information regarding the litigation, is available at http://www.paymentcardsettlement.com.
Additional Cost Reduction Opportunities
While this settlement only covers 2004 – 2019, Verisave can review the current state of your merchant account to clean up any refunds you are entitled to from 2019 – current, and ensure you are not being overcharged going forward.
If you have any other questions about the settlement, or about your merchant account, contact Ethan Lawless, Verisave Client Experience Manager: elawless@verisave.com