Click Here to Dismiss This Notice and
Go to Our Payment Processing Blog
If your business processed credit cards between 2004 through 2019, your business may be eligible to receive part of a settlement in the form of a refund.
These refunds may be processed through your Tax ID Number.
To sign up for your refund, your business must file a claim with the Claims Administrator and this will put you in line to receive your refund.
Go to: PaymentCardSettlement.com
- Click ‘SUBMIT A CLAIM’
- Enter Claimant ID#
If you do not have a Claimant ID# –
- Enter Your Tax Payer Identification Number
- Submit some additional information
- The Class Administrator will attempt to inform you if you are eligible to file a claim in the settlement
What is This About
You are simply filing a claim to recover your part of a settlement that has been set aside for alleged antitrust law violations by VISA and Master Card that negatively impacted Business Owners across America.
So What Happened?
Of course, class action lawsuits are lengthy and heavy on the eyes, so in an attempt to summarize…
VISA and Master Card were accused of putting rules into place that would hinder competition or incentives to lower interchange rates.
Interchange Rates are simply another way to say ‘their costs’, and the lawsuit claims that… if VISA and Master Card had not put such rules into place, then businesses would have paid lower interchange fees.
The claim is, that this activity had been going on from 2004 through 2019.
That’s 15 years.
That’s a long time.
How Did The Courts Come Up With The $5.5 Billion Dollar Settlement Number?
The settlement is the result of a class action lawsuit, in which VISA and Master Card agreed to pay $5.5 BILLION DOLLARS to businesses that accepted VISA and Master Card between 2004 and 2019.
By VISA and Master Card accepting the settlement, the card companies avoid trial.
DEADLINE FOR FILING CLAIM: August 30, 2024
Go To: PaymentCardSettlement.com
- Click ‘SUBMIT A CLAIM
- Enter Claimant ID#
If you do not have a Claimant ID# –
- Enter Your Tax Payer Identification Number
- Submit some additional information
- The Class Administrator will attempt to inform you if you are eligible to file a claim in the settlement
How Much Will I Receive?
Depends on if you are eligible, and on the number of businesses that file a claim.
If YOU ARE ELIGIBLE AND DO NOT FILE A CLAIM… then your share of the settlement will be divided among all of the other business owners who have decided to file a claim.
Bottom Line… You Snooze You Lose.
Good Luck!
Click to Learn More About Payment Processors
Setup a Payment Processing Discovery Call
SUBSCRIBE to The Business Blog
