In 2025, a historic lawsuit against Visa and Mastercard that had been pending for years was resolved. Millions of US retailers have been impacted by this lawsuit, and as a result, they are now eligible for a refund of up to $2,000. You might qualify for this reimbursement if you have accepted Visa or Mastercard payments between 2004 and 2019 and you also conduct business in the US. We will go into great detail about this settlement, who is eligible, and how to receive your refund in this post.
Root cause of the lawsuit: Overcharging merchants
The initial allegations of the lawsuit were that Visa and Mastercard hampered competition by imposing arbitrary merchant transaction fees, or swipe fees. A fee is assessed to the merchant when consumers use a Visa or MasterCard to pay for goods or services. Merchants have long claimed that these fees are unjust and exorbitant, and that they are not provided with clear information about them.
According to a 2012 class-action lawsuit, Visa and MasterCard purposefully set these fees high and established regulations to stifle competition. The final settlement of this lawsuit is now anticipated in 2025, following years of legal proceedings.
Settlement Amount and Eligibility
In the settlement of this lawsuit, Visa and MasterCard have agreed to pay a total of more than $5.5 billion (US$5.5 billion). This amount will be distributed among all merchants who suffered financial losses due to unfair fee policies implemented by Visa or MasterCard.
The eligibility criteria are as follows:
- You must have accepted Visa or MasterCard transactions between January 1, 2004 and January 19, 2019.
- You must be doing business in a US state or territory.
- You have not yet filed a claim form under this settlement.
If you meet these criteria, you now have a chance to claim a refund of $2,000 or more.
Claim Process: Easy and Online
The claim process under this class-action settlement has been made very simple and online so that merchants can easily fill their forms. Here is the step-by-step process:
- Visit the settlement website**: First of all, go to the official website where you can get all the information and claim form related to this lawsuit.
- Fill in your business details: You will need to provide your business name, TIN (Taxpayer Identification Number), and the time period in which you accepted Visa or MasterCard.
- Upload documents: If you have a record of the transaction from that time, it will be beneficial to upload it. This can give priority to your claim.
- Submit the form: After filling all the information correctly, submit the form and get a receipt which should be kept safe for future.
Keep in mind that this process has to be completed before the last date of claiming, otherwise you may lose this amount.
When will you get the payment?
Once all the claims are processed and the settlement process is finally approved by the court, payments will be sent to eligible merchants within a few months. The payment can be deposited directly into the bank account or can also be sent through a check.
Keep in mind, not every merchant will get the same amount. Merchants who have done more transactions and whose fees have been deducted more, can get more refund.
Beware of fraud
Many settlement scams can also be seen on the Internet. Therefore, you should claim only from the official website and should not share your personal information with any unknown person.
No legal institution takes money from you and makes you fill the form. This entire process is free. If any person or website asks you for money, then be careful.
Final thoughts: A golden opportunity
This Visa-Mastercard settlement is not only a big step to give relief to the merchants, but it is also an important step towards transparency and fair fee system of payment systems in the coming times.
If you have used Visa or Mastercard between 2004 and 2019 and you are a merchant, then do not miss this opportunity at all. You could end up with a refund of over $2,000 without any extra effort – that amount can be a huge help to any small business.
FAQs
Q1. Who is eligible to claim the refund?
Merchants in the U.S. who accepted Visa or Mastercard payments between January 1, 2004, and January 25, 2019.
Q2. How much money can I receive?
Eligible merchants may receive up to $2,000 or more, depending on their transaction volume during the claim period.
Q3. Is there a deadline to file the claim?
Yes, there is a deadline announced on the official settlement website. Late claims may not be accepted.
Q4. Do I have to pay anything to submit a claim?
No, submitting a claim is completely free and does not require payment.
Q5. How will I receive the refund?
Refunds will be issued either via check or direct deposit once the settlement is finalized.
