Millions of businesses could get a piece of the Visa/Mastercard settlement: To qualify, they must file a valid claim by February 4.
BROOKLYN, NEW YORK — January 2, 2025 — Time is running out for millions of businesses to claim their share of the nation’s largest antitrust class-action settlement. Business owners have just one month left to file their claim to get a piece of the historic $5.5 billion settlement.
The deadline to file a claim is Tuesday, February 4, 2025. Claims can be submitted through the portal, PaymentCardSettlement.com or by mail if business owners received a claim form in the mail.
Only businesses that qualify and file a claim by the deadline will receive money from the settlement. The settlement came after a 19-year legal battle in the courts over claims that business owners paid allegedly inflated Visa and Mastercard interchange fees.
Who qualifies?
The criteria is simple: businesses of any size that accepted Visa and/or Mastercard credit or debit card payments in the U.S. between January 1, 2004, and January 25, 2019, can qualify. Even businesses that went bankrupt, closed, or changed ownership can file a claim, but they must do so before the deadline.
How do I file a claim?
Claims can be filed online at PaymentCardSettlement.com. The process can take as little as five minutes.
Methods for filing claims include:
Online with a QR code:
Millions of businesses received claim forms in the mail. Business owners can simply scan the QR code on the claim form and, after validation, are taken to a secure, personalized page on the claims portal containing the company’s information.
Online with Taxpayer Identification Number (“TIN”):
Business owners who do not have a claim form can visit the claims portal, use their TIN to confirm their identity and authorization, and then follow very simple steps to submit it. They should be ready with documentation showing they are authorized to file a claim on behalf of the business.
By mail:
Claims can also be submitted by mail. For further instructions, visit the claims portal.
How much will I receive?
There is no set amount: Payments will be calculated after all claims are submitted and validated, and will depend on the value of all qualifying payment card transactions and the number of claims received, among other factors, and could range from tens to hundreds of thousands of dollars.
Co-Lead Counsel Comments:
“I urge business owners to file a claim today to see if they qualify to receive money from this settlement,” said Alexandra “Xan” Bernay, Co-Lead Counsel on the case, and a partner at Robbins Geller Rudman & Dowd LLP, and one of the three lead law firms on the case. “We’ve made the claims process quick and easy, so more businesses can file a claim and get their share of the settlement. While it’s taken us nearly 20 years to get to this point, we’re doing everything we can to get settlement funds into the hands of business owners. Businesses have until February 4, 2025 to file a claim in this truly extraordinary settlement.”
Business Resources:
· To file a claim: https://paymentcardsettlement.com/en/Login
· Settlement FAQs: https://www.paymentcardsettlement.com/en/Home/Faq
Media Resources:
· Educational and Support Materials: https://www.pcsoutreachkit.com/kit
· Original Settlement Claims Period Press Release: https://www.prnewswire.com/news-releases/millions-of-us-businesses-eligible-for-a-share-of-5-54b-payment-card-settlement-302003037.html?tc=eml_cleartime
· First Extension Press Release: https://www.prnewswire.com/news-releases/time-is-running-out-for-businesses-to-file-for-5-5b-payment-card-settlement-302119035.html
· Second Extension Press Release: https://www.prnewswire.com/news-releases/deadline-extended-until-feb-4–2025-in-5-5b-payment-card-claims-process-302220650.html
