PAYMENT CARD INTERCHANGE FEE SETTLEMENT

PAYMENT CARD INTERCHANGE FEE SETTLEMENT

On September 18, 2018, a Superseding and Amended Definitive Class Settlement Agreement was filed with the Court.

This is a proposed $5.56–$6.26 billion settlement to provide payments to merchants who accepted Visa and MasterCard at any time from January 1, 2004.

The terms of this proposed settlement would modify, amend and supersede the Definitive Class Settlement Agreement in which approval was reversed and remanded by the Second Circuit Court of Appeals on June 30, 2016.

If the Court grants preliminary approval to the new settlement, relevant documents, dates, deadlines and other information will be posted on this website. Following preliminary approval, known class members would be mailed a notice about their legal rights and the release of their claims. Information about the settlement would also be published in online media as well as in newspapers, consumer magazines and trade publications.

Claim forms and payments are not available at this time. If the Court grants final approval and any appeals are resolved, the Court will approve a claim form and set a claim deadline.

FREQUENTLY ASKED QUESTIONS

ELIGIBILITY CRITERIA

We can represent you if you paid VISA or Mastercard interchange fees between 2004 and 2014 (the class period) and your sales were above 5 Million per year, during one or more years from 2004 - 2014.

HOW LONG WILL IT TAKE?

The timeline depends on the court’s schedule, normally it takes between 12 to 18 months without any appeals, or longer if there are appeals.

HOW MUCH CAN I EXPECT FROM THE SETTLEMENT?

The settlement fund is calculated to pay out 1/10th of 1% (or 0.001) of VISA/Mastercard credit card volume. However, it will depend on things like the number of claims, and the costs of administering the settlement, etc.

WHAT DO YOU DO IN ORDER TO REPRESENT MY INTERESTS?

Making a claim will require several steps and a lot of work because we:

  • Follow the lawsuit to ensure deadlines are adhered to

  • Potentially appear at and attend court hearings in New York

  • Collect and retrieving transaction data

  • Analyze transaction data for submission

  • Organize the transaction data into submittable forms

  • Prepare legal documents and claims forms for submission

  • Interact with the settlement administrator, law firms representing the parties, and the court

  • Negotiate differences in the settlement vs proposed distributions

  • Determining whether to object or file matters for court intervention.

Men Shaking Hands

Talk now with one of our representatives to learn in you are elegible to participate in the settlement.

Call now  201-297-1567

Direct Email: visamc@alphaplusglobal.com

Contact:

646-462-3859

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