Deadline to File for Credit Card Swipe Fee Settlement Rapidly Approaching

The claims period is open until May 31.

May 10, 2024

In March 2023, a federal appeals court upheld a $5.6 billion antitrust class-action settlement consisting of more than 12 million retailers. To receive a payment, retailers must file a claim before the deadline on May 31, 2024.

At $5.6 billion, it’s the largest settlement of its kind and returns real money to merchants after years of paying inflated interchange fees.

Businesses that accepted Visa and/or Mastercard between January 1, 2004, and January 25, 2019, are eligible to claim a share of the settlement. Some class members will need to take additional steps and provide supporting data to show their share of eligible payment card transactions and/or interchange fees during the period.

Litigation challenging Visa and Mastercard’s rules and price setting is ongoing.

For more information on the claims process and the settlement itself, visit the Payment Card Settlement Official Court-Authorized Website. That is the official website for the settlement and will include all official court notices relating to the settlement.

If you did not receive a claim form and did not opt out, visit the official website above and notify the claims administrator to receive and file a claim form. No organization will receive funds without filing a claim.

Note that this $5.6 billion settlement is unrelated to a separate proposed $30 billion settlement.