If your business has accepted Visa and Mastercard payments between January 1, 2004, and January 25, 2019, you may be eligible for compensation through a class-action settlement. In a significant antitrust lawsuit, a preliminary settlement of over $5.5 billion has been approved, and affected merchants now have the chance to claim a share of these funds. Here’s what you need to know to get started. 

Settlement Details 

The lawsuit, filed on behalf of merchants, alleges that Visa and Mastercard violated antitrust laws, potentially resulting in higher transaction fees. The court’s preliminary approval means merchants can file claims to recoup some of those fees, with potential compensation ranging between $3,000 and $5,000 per $1 million in credit card sales processed during the covered period. 

To qualify for a portion of the settlement, merchants must submit their claims by February 4, 2025. All claims should be filed directly by the business (not through a third-party representative like Lutz) via the settlement’s official website: Payment Card Settlement. 

How to File Your Claim 

Filing a claim for this settlement is straightforward, and based on guidance from local Omaha law firms and our specialized tax advisors, we believe that most clients can complete the process independently without needing additional assistance. Here’s a step-by-step overview to guide you: 

1. Create an Account: Start by registering on the Payment Card Settlement website.
2. Proof of Authority: Upload a document to show you can act on behalf of the company if prompted.
3. Estimate Your Credit Card Sales: Input an estimate of your Visa and Mastercard sales during the covered period (January 1, 2004, to January 25, 2019).
   • No documentation is needed upfront. The Class Administrator will verify the sales figures independently and reach out only if there’s a discrepancy.
4. Provide Proof of Business: Submit any necessary documents proving your business’s existence, such as organizational documents, when prompted. 

Next Steps 

Taking advantage of this opportunity could result in meaningful financial compensation. For additional information, you can refer to the official case documents on the settlement website linked above. Should you have any questions or need clarification on the claim process, please contact us.