Businesses have until May 31, 2024 to file a claim for their share of the $5.5 billion antitrust settlement with Visa and Mastercard. This settlement, resulting from a 2005 lawsuit, alleges that merchants paid excessive fees to accept Visa and Mastercard credit cards, and that Visa and Mastercard along with their member banks violated antitrust laws. Any business that accepted Visa and/or Mastercard credit or debit cards in the U.S. between January 1, 2004, and January 25, 2019, may be eligible to receive part of the settlement. Even eligible owners whose businesses have closed or gone bankrupt can still submit a claim.
Mitch Goldstone, CEO and owner of ScanMyPhotos.com and lead plaintiff in the lawsuit, has been working hard to spread the word to small businesses so they can file a claim in the settlement. Despite his efforts to make the claim process user-friendly, many eligible businesses have yet to file their claims. The deadline to file a claim is Friday, May 31, 2024, and claims can be submitted online at PaymentCardSettlement.com or by mail if a paper claim form was received.
It is important for businesses to file a claim by the deadline in order to receive money from the settlement. The amount of the payout for each business will be determined after all claims are filed and validated
