Visa-Mastercard Class Action Settlement 2025: Have you ever wondered if there are really some extra charges on the card payments you make And if yes, can you be entitled to a refund in lieu of this If you have made a payment through Visa or Mastercard in the US, then there is great news for you. In the year 2025, eligible people can get a refund amount of up to $2000 under the Visa-Mastercard Class Action Settlement. In this article, we will understand in detail what this class action settlement is, why it came, who will get the money and how you can apply for this claim.
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What is Visa-Mastercard Class Action Settlement?
- This is the result of a long-running legal battle in which Visa and Mastercard were accused of charging merchants (shopkeepers and business owners) unfair and excessive fees on card payments.
- A class action case was filed in the US court regarding this matter, in which it was said that these companies abused their dominance in the market and merchants had to pay excessive charges on card payments.
- Now this case has been settled and a settlement has been decided in which Visa and Mastercard have agreed to return the amount of about $5.54 billion to the class members.
Who are the class members ?
Class Members means all individuals or companies who:
- Between January 1, 2004 and January 25, 2019
- as a merchant/business located in the United States
- accepted payments using cards issued by Visa or Mastercard
- If you accepted card payments at your store or business during that period, you can join this class action.
How much money you get?
It depends on
- how many Visa/Mastercard transactions you made during that period,
- the total number of claims filed,
- and what your percentage of the settlement is.
- However, it is estimated that some merchants could receive $2000 or more.
How to check eligibility?
You have two ways:
- Check online: https://www.paymentcardsettlement.com
- This is the official website for the Visa-Mastercard settlement
- Here you can: Enter your business name or tax ID
- to see if your business is eligible for the settlement.
- Received a notice by mail: If you have already received a class action notice, you can log in using the claim number and confirmation code provided in it.
How to file a claim?
If you are eligible, you will need to fill out a claim form. You can:
- Fill it out online by visiting the website
- Or download a physical form and send it in the post
- The following information will be required when filing a claim:
- Your business name
- Your tax ID (EIN)
- The year you made the transactions
- The estimated amount you accepted during that time
- Deadline: The deadline to file a claim could be as early as mid-2025 (confirm with the website).
When will you receive money from the settlement?
This is a legal process and takes some time. If you have filed the claim correctly and all the papers are in order, you can expect payment by the end of 2025 or early 2026.
Will it cost anything?
No. Filing a claim is completely free. If someone asks you for a fee for this, be careful – it may be a scam.
Do I need a lawyer?
You do not need a lawyer in this case. In the class action case, the court has already appointed Plaintiffs lawyers who fight this case on your behalf.
Will this refund be taxable?
This depends on your accounting and IRS reporting. It would be better to contact your accountant or tax advisor. Sometimes this refund is considered compensation for losses and is not taxable.
Can I make a claim if I did not receive a notice?
Yes, absolutely. If you have accepted card payments during that time period, and you have evidence (records), then you can still file a claim.
How to avoid fraud in this claim?
- Always visit the official website (paymentcardsettlement.com)
- Do not fill your personal details on any unknown website
- Report if someone asks for money
Conclusion:
This case opens up a monumental chance for millions of U.S. merchants to recover their losses from excessive interchange fees imposed during the years. Any business accepting payments through Visa or Mastercard from January 1, 2004, to January 25, 2019, would possibly get a refund amounting to $2000 or more.. You can file for a claim through the official website, and it is very easy and free.
FAQs
Q1. What is the Visa-Mastercard Class Action Settlement 2025 about?
A. This settlement involves a class action lawsuit that claimed Visa and Mastercard charged merchants excessive interchange (swipe) fees when customers used credit or debit cards. The settlement compensates eligible merchants for those overcharges.
Q2. Who is eligible to claim a refund?
A. Merchants in the U.S. who accepted Visa or Mastercard payments between January 1, 2004, and January 25, 2019, may be eligible for a share of the settlement.
Q3. How much money can I receive from the settlement?
A. Eligible merchants could receive up to $2000 or more, depending on the volume of card transactions they processed during the qualifying period and the number of claims submitted.
Q4. Do I need to file a claim to receive the refund?
A. Yes, merchants must file a claim through the official settlement website or via mail to be considered for a refund.
Q5. What is the deadline to file a claim?
A. The official claim filing deadline is August 30, 2024. Claims submitted after this date may not be considered.
