Your share of $5.54 billion from the Visa/Mastercard settlement could be waiting for you...
Let us help you claim your share of the $5.54 billion Visa/Mastercard Interchange Fee Settlement for U.S. merchants.
Higher revenue &
less work for you.
Real results or we
don't get paid.
No hidden fees -
What are the settlement details?
The Payment Card Interchange Fee and Merchant Discount Antitrust Litigation | MDL No. 1720] ("Settlement") claims that merchants paid excessive interchange fees for accepting Visa and MasterCard because of an alleged conspiracy among the Defendants. The Court granted final approval of this Settlement on December 13, 2019, and will establish a claims process whereby eligible merchants will be able to claim their share of the billions in settlement funds.
Do You Qualify?
If your organization accepted Visa or MasterCard payments in the U.S. any time from January 1, 2004 to January 25, 2019, you may be eligible to recover significant funds from this Settlement. Although the claim forms are not yet available and the filing deadline for claim submission has not been announced, you can engage MCAG now to ensure that a proper and timely claim is filed on behalf of your business.
We know it can be frustrating trying to
manage settlements on your own.
We know it is hard work to get everything you deserve from class action settlements. At MCAG, we take revenue recovery seriously. FINDING MONEY IS OUR BUSINESS! Higher revenues & less work is possible for you. Sleep better tonight knowing MCAG is working hard for you.
All types and sizes of organizations trust MCAG to manage their revenue recovery.
MCAG's partnerships help get the most for your claim with the least amount of effort from you.
MCAG has helped our clients discover over $260 million in revenue.
Enroll in MCAG's service online today
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Receive your settlement
No hidden fees. MCAG doesn't get paid unless you get paid.
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We'll pay you what you're owed once the court approves the distribution of settlement funds.
Q: Why MCAG?
A: MCAG is an expert in recovering money for businesses through our class action Settlement Recovery Service. Over 200,000 merchants of all sizes and levels of sophistication have contracted with MCAG to handle their claim for this settlement. Clients range from sole proprietors to complex global organizations and Fortune 500 companies.
As part of its comprehensive services, MCAG will:
Acquire as much of the historical data applicable to the settlement as possible,
Fill out all of the necessary documentation,
Submit a comprehensive claim in an effort maximize recoveries,
Correspond with the Settlement Administrator,
Reconcile returns on behalf of our clients, and
Distribute net recoveries from the settlement funds.
All of these services are performed on a contingent fee basis – if there is no recovery, there will be no fee.
If you do not file a valid and timely claim, or have a claim filed on your behalf by an authorized third party filing agent like MCAG, then you will not recover any money from the settlement.
Q: What is this settlement about?
A: The Visa/MasterCard Settlement arose from a lawsuit claiming that merchants paid excessive interchange or swipe fees for accepting Visa and MasterCard payments because of an alleged conspiracy among Visa, MasterCard and the Bank Defendants.
After years of delays, the Court granted Final Approval of this Settlement on December 13, 2019. Some organizations have filed appeals to the final-approval order. A claims process will not begin until all appeals are resolved, and at this time it is unknown how long the appeals process will take.
When a claims process is available, merchants must submit a claim to the Settlement Administrator, or have a claim submitted on their behalf, to be eligible to receive any cash from the $5.54 billion settlement fund.
Although the claim forms are not yet available, you can engage MCAG now to ensure that a proper and timely claim is filed on behalf of your business.
Q: What time period of transactions does this settlement cover?
A: The settlement covers payments your organization accepted made via Visa or MasterCard from January 1, 2004 to January 25, 2019.
Q: What is a Merchant ID Number or MID?
A: A Merchant ID Number is assigned by your credit card processor/merchant services provider. This can be found either on your billing statement or by contacting your merchant services provider.
Q: What is an interchange fee?
A: When a cardholder makes a purchase with a credit or debit card, there is an interchange fee charged to the merchant. This fee is usually 1% to 2% of the purchase price. Interchange fees typically account for the greatest part of the fees paid by merchants for accepting Visa and MasterCard.
Visa and MasterCard set interchange fee rates for different kinds of transactions and publish these rates on their websites, usually twice a year.
Q: Is there a claim filing deadline?
A: The filing deadline has yet to be determined. Claim forms are not available at this time and will not be available until the appeals to the final approval order are resolved. The Second Circuit Court of Appeals has set oral arguments regarding objections (appeals) to the final approval of the Settlement for March 16, 2022. Additional details will be provided as they become available. MCAG will update clients enrolled in our service via email as soon as the Court sets the deadline for submitting claims.
Q: Do we need to provide any merchant statements or transaction data if I use MCAG?
A: No, we simply need your merchant identification numbers, associated credit card processor/merchant service provider names, associated tax id’s, and associated address locations.
Q: What if we have more than one location with different Tax ID Numbers and/or Merchant ID Numbers?
A: If your business has multiple locations, we ask that you complete our Enrollment Form using information corresponding to your headquarters/primary location. Once you complete that submission, you will receive instructions to register for MCAG’s Settlement Recovery HUB where you can easily provide additional information for your organization such as additional locations, tax IDs, and merchant IDs. You may also provide merchant information for a location that has closed that you owned during the settlement period.
If you own more than one business and the businesses operate as separate entities, then we suggest that you complete primary enrollment form for each distinct business.
If you did not process with your current payment card processor / merchant service provider all the way back to 2004, then you can provide information from you previous processors, but your current merchant information is what is most critical.
Q: How much money will we get back?
A: This is a fixed-fund settlement, and since we expect that the settlement will be oversubscribed (meaning the dollar value of the claims submitted will exceed the total of the settlement fund), all submissions will be pro rata reduced (meaning that claimants will receive a portion of the total of their estimated interchange fee volume during the settlement period). At this time, there is no way to accurately estimate your return.
For example, if the total settlement fund = $5 billion and the total amount of valid claims submitted = $125 billion, then the payout from the settlement will be a pro rata portion of each $1.00 submitted as claim. In this example, where $125 billion in claims is submitted to a $5 billion fund, each claimant would receive a gross payout of $0.04 for every $1.00 of valid claims submitted.
Returns could be significant because over 150 of the largest merchants, such as Wal-Mart, Amazon, Delta Airlines, American Airlines, and Google have already been compensated by the Defendants, or have opted out of the settlement class, and are not eligible to be paid from the $5 billion in net settlement funds.
Q: What if we do nothing - will we receive proceeds from the settlement fund?
A: Class members (eligible merchants) are required to submit a claim in order to receive any proceeds (monetary relief) from this settlement. Therefore, if you do not submit a claim on your own, or have MCAG or another third party submit a claim on your behalf, then you will not receive any of the settlement funds (cash payment from the settlement).
Q: Can we file a claim on our own?
A: Yes. Once claim forms are available you can go to the official court authorized settlement website for more information (www.paymentcardsettlement.com).
Payment Card Settlement Disclaimer: The Court has granted final approval of a settlement to resolve the class action. Claim forms are not yet available and class members need not sign up for a third-party service to recover settlement funds. Once a claim’s process is available, no-cost assistance will be available from the Class Administrator and Class Counsel.
If your organization has multiple locations, we ask that you complete our Enrollment Form using information corresponding to your headquarters/primary location. Then select 'Yes' in the field below noting that you have more locations. You will receive a follow-up email within 24 hours of enrolling with MCAG with instructions for logging into the MCAG Settlement Recovery HUB where you can provide additional merchant IDs for all existing merchant locations. You may provide merchant information for a location that has closed that you owned during the settlement period.
If you own more than one business and the businesses operate as separate entities, then we suggest that you complete a primary enrollment form for each distinct business.