Millions of businesses are eligible to receive a payout in the $5.5 billion antitrust settlement with Visa and Mastercard. The settlement resulted from a 2005 lawsuit that alleged merchants paid excessive fees to accept Visa and Mastercard credit cards, and claimed that the companies violated antitrust laws.
Owners of eligible businesses that have closed or gone bankrupt since January 1, 2004, can also submit a claim. To be eligible, businesses must have accepted Visa and/or Mastercard credit or debit cards in the U.S. between January 1, 2004, and January 25, 2019. Mitch Goldstone, CEO and owner of ScanMyPhotos.com, is the lead plaintiff in the lawsuit and expressed frustration that many eligible merchants have not yet filed their claims.
The deadline to file a claim is Friday, May 31, 2024. Claims can be submitted online through the claims portal PaymentCardSettlement.com or by mail if a paper claim form was received. Only businesses that file a claim by the deadline will receive money from the settlement. The amount of the payout for each business will be determined after all claims are submitted and validated.
