Final Deadline Approaches for Businesses to Claim $5.5 Billion Payment Card Settlement
The largest antitrust class action settlement in U.S. history—the $5.5 billion payment card settlement—has a claim deadline of February 4, 2025. Any business that accepted Visa or Mastercard credit or debit cards in the United States between January 1, 2004, and January 25, 2019, regardless of size, may be eligible. Claims can be submitted via an online portal or by mail, with the process taking as little as five minutes.
Brooklyn, New York —The deadline is fast approaching for millions of businesses to claim their share of the largest antitrust class action settlement in U.S. history. Business owners have just one month left to file claims for a piece of the historic $5.5 billion settlement.
The deadline to file a claim is Tuesday, February 4, 2025. Business owners can file online through the claims portalPaymentCardSettlement.comor by mail if they received a claim form in the mail.
Only eligible businesses that submit a claim by the deadline will receive a payment. The settlement stems from a 19-year court battle centered on allegations that business owners paid inflated Visa and Mastercard interchange fees.
Who is eligible?
The eligibility criteria are simple:Any business that accepted Visa and/or Mastercard credit or debit cards in the U.S. between January 1, 2004, and January 25, 2019, regardless of size, may be eligible.Even businesses that have since closed, gone bankrupt, or changed ownership can file a claim, but they must do so before the deadline.
How to file a claim?
Claims can be filedPaymentCardSettlement.comonline, and the entire process takes as little as five minutes.
Ways to file include:
- File online using the QR code:Millions of businesses have received claim forms by mail. Business owners simply scan the QR code on the form, verify, and are taken to a personalized, secure page on theclaims portalwith their business credentials pre-filled.
- File online using a Tax Identification Number (TIN):Business owners who did not receive a claim form can visitclaims portal, confirm their identity and authorization using their TIN, and follow simple steps to file. Submitters must have documentation proving they are authorized to file on behalf of the business.
- File by mail:Claims can also be submitted by mail. For more instructions, visitclaims portal。
How much could I receive?
There is no fixed amount — payments will be calculated after all claims are submitted and validated, and will depend on factors such as the value of all eligible payment card transactions and the number of claims received. Amounts could range from tens of dollars to hundreds of thousands of dollars or more.
Comment from Co-Lead Counsel:
“I urge business owners to file their claims now to see if they are eligible for a payment from the settlement,” saidAlexandra “Xan” Bernay, a partner at Robbins Geller Rudman & Dowd LLP and one of the three co-lead counsel firms in the case. “We have made the claims process quick and easy so that as many businesses as possible can file and receive a share of the settlement. Although it took nearly 20 years to get here, we are doing everything we can to get the money into the hands of business owners. Businesses must file their claims by February 4, 2025, to participate in this truly massive settlement.”
Business Resources:
- File a Claim:https://paymentcardsettlement.com/en/Login
- Settlement FAQ:https://www.paymentcardsettlement.com/en/Home/Faq
Media Resources:
- Educational Settlement Materials and Supporting Documents:https://www.pcsoutreachkit.com/kit
- Original 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
Join the next optional educational settlement webinar, scheduled for January 8, 2025, designed to answer the most common questions from class members. Details and registration links are available on the settlement websitewww.paymentcardsettlement.com. For any questions, contact the Education and Outreach Team:[email protected]。
# # #
Media Contact
(W)right On Communications
Larry Smalheiser
About the Settlement: The Payment Card Settlement is a historic antitrust class action settlement that provides a measure of relief to millions of U.S. businesses that paid allegedly inflated Visa and Mastercard interchange fees over the years. The claims period is now open, and business owners are encouraged to file their claims before the period ends onFebruary 4, 2025to receive a share of the court-approved $5.5 billion settlement. The lawsuit alleged that merchants paid excessive fees for accepting Visa and Mastercard cards because Visa and Mastercard, individually and together with their member banks, violated antitrust laws. For more information, visitwww.paymentcardsettlement.com。
