A $5.5 billion antitrust settlement with Visa and Mastercard offers potential payouts to businesses who accepted their cards between 2004 and 2019.
Business es who may be entitled to a payout in a $5.5 billion antitrust settlement with Visa and Mastercard have until the end of the month to file a claim and receive part of the settlement.The settlement, among the largest in U.S. antitrust history, stems from a 2005 lawsuit that alleged merchants paid excessive fees to accept Visa and Mastercard credit cards, and that Visa and Mastercard and their member banks acted in violation of antitrust laws.
RELATED: Visa, Mastercard agree to settlement over swipe fees with merchants"Most eligible merchants still haven’t filed their claims, despite my efforts — such as helping design a user-friendly claim form with a simple QR barcode," he wrote in an email. "It’s frustrating, considering it only takes a minute to file."The deadline to file a claim is Friday, May 31, 2024. Claims can be submitted on the claims portal PaymentCardSettlement.
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