Visa and Mastercard Interchange Fee Settlement
Visa and Mastercard · Visa and Mastercard credit and debit card payment processing · Settlement Reached
About this case
Merchants alleged that Visa and Mastercard charged excessive interchange fees for card transactions, in a long-running antitrust class action covering qualifying U.S. merchants. The damages settlement was reached in 2018 and received final approval in 2019; settlement administration continues, with a potential second distribution awaiting court approval.
Case overview
- Defendant company
- Visa and Mastercard
- Product or service
- Visa and Mastercard credit and debit card payment processing
- Case name
- Payment Card Interchange Fee Settlement
- Case status
- Settlement Reached
- Lawsuit type
- Antitrust
- Reported harm
- Competition Pricing
Important dates
- Merchant settlement claim
Participation information
Availability is based on each listed participation option and its deadline.
Merchant settlement claim
U.S. businesses that accepted Visa or Mastercard-branded cards between January 1, 2004, and January 25, 2019, subject to the settlement terms.
- Type
- Settlement Claim
- Status
- Deadline passed
- Total settlement amount
- $5,500,000,000
- Payout
- Approximately $414 million had been distributed to about 598,000 merchants. A proposed second distribution of at least $182 million was awaiting court approval.
- Reported proof requirement
- Unclear
This information does not determine whether you qualify for a case.
Sources
Public reporting associated with this case.
- Visa and Mastercard Interchange Fee Settlement
Yahoo! Finance ·