Merchants Can Claim Lost Revenue. Don’t Wait!
Visa and Mastercard Settlement: A Chance for Merchants to Reclaim Lost Revenue
In a significant legal victory for merchants across the United States, Visa and Mastercard have agreed to a $5.5 billion settlement to resolve claims of excessive interchange fees. This settlement provides an opportunity for merchants who accepted Visa or Mastercard credit cards between January 1, 2004, and January 25, 2019, to potentially recover significant funds.
Easily and quickly submit your information clicking below and let us and Financial Recovery Strategies do the rest.
Key Takeaways
Brady Ware can help you:
- Assess eligibility
- Complete and submit the required claim forms
- Provide ongoing support and updates until your recovery check arrives.
- Brady Ware is partnering with Financial Recovery Strategies to help you easily and quickly submit your information
Understanding the Settlement
The core of the lawsuit centered around allegations that Visa and Mastercard imposed artificially high interchange fees on merchants. These fees, charged for processing credit card transactions, were deemed excessive and anti-competitive. The settlement aims to rectify this issue and compensate affected merchants.
Who is Eligible?
Any business entity that accepted Visa or Mastercard credit cards during the specified period is eligible to file a claim. This includes a wide range of businesses, from small, local shops to large corporations.
How to File a Claim
Navigating these claims can be complex and time-consuming. Brady Ware is working with Financial Recovery Strategies, a leading class action claims management consultant to make the process as seamless as possible for your dealership. But don’t wait! The deadline for filing claims is February 4, 2025.
What Happens After Filing a Claim?
Once a claim is filed, it will be reviewed and processed by the settlement administrator. The settlement funds will be distributed pro-rata to all eligible claimants. This means that the amount each claimant receives will depend on the total number of claims filed and the total amount of fees claimed.
Key Considerations for Merchants
- Timely Filing: It is crucial to file a claim before the deadline to ensure eligibility.
- Accurate Information: Provide accurate and complete information on your business and transaction history to maximize your potential recovery.
- Professional Assistance: Consider consulting with legal or financial experts who specialize in class action settlements. We can help you navigate the complex process and ensure your claim is filed correctly.
- Potential Recovery: The amount each merchant can recover will vary depending on factors such as the volume of transactions processed during the relevant time period and the specific interchange fees charged.
The Impact of the Settlement
The Visa and Mastercard settlement has the potential to provide significant financial relief to merchants who were overcharged for processing credit card transactions. By participating in the settlement, merchants can recoup lost revenue and reinvest it in their businesses. Additionally, this settlement could lead to increased competition in the credit card industry, ultimately benefiting consumers and merchants alike.
Take Action to Recover Your Company’s Share
Navigating these claims can be complex and time-consuming. Brady Ware is working with Financial Recovery Strategies, a leading class action claims management consultant to make the process as seamless as possible for your company.
You can also reach out to your Brady Ware contact today to discuss your eligibility for these settlements.
Disclaimer: Payment Card Settlement Claim forms have been delivered and have been available online since 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. For additional information, class members may visit the Court approved website at www.PaymentCardSettlement.com, or contact Class Counsel or the Class Administrator.