Visa/Mastercard Settlement | Sagemont Services

VISA/MASTERCARD INTERCHANGE FEE

Key Settlement Information

Settlement Fund

$5.54 billion

Settlement Period

Jan 1, 2004 – Jan 25, 2019

Claim Filing Deadline

February 4th, 2025

Current Status

Filing deadline has passed

INTERCHANGE FEE LAWSUIT

Summary Of The Visa/Mastercard Interchange Fee Lawsuit

This lawsuit addresses improper interchange fees charged to merchants that accepted Visa or Mastercard credit or debit cards between January 1, 2004 and January 25, 2019.

Merchants harmed by the interchange fees made the following allegations:
- Visa and Mastercard, and their respective member banks, violated the law because they (i) set interchange fees, and (ii) imposed and enforced “rules” that limited merchants from steering their customers to other payment methods. Those rules include so-called no-surcharge rules, no-discounting rules, honor-all-cards rules, and certain other rules. Doing so insulated Visa and Mastercard from competitive pressure to lower the interchange fees.
- Visa and Mastercard conspired together to implement some of the business practices challenged.
- Visa and Mastercard, and their respective member banks, continued in the aforementioned activities despite the fact that Visa and Mastercard changed their corporate structures and became publicly owned corporations after the case was filed.

Summary Of The Visa/Mastercard Interchange Fee Lawsuit

FAQ's

Frequently Asked Questions

View All Questions

What is an Interchange Fee?

When a cardholder makes a purchase with a credit or debit card, there is a fee attributable to those transactions, which is usually around 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 cards. Visa and Mastercard set interchange fee rates for different kinds of transactions and publish them on their websites, usually twice a year.

Does my business qualify for a portion of the $5.54 billion settlement fund?

If your business accepted Visa or Mastercard payments during the settlement period, you likely qualify.

How much money will my business get from the settlement?

The amount paid from the settlement fund will be based on your actual or estimated interchange fees attributable to Visa and Mastercard card transactions (between you and your customers) from January 1, 2004, through January 25, 2019. The amount of money each Authorized Claimant will receive from the settlement fund depends on the money available to pay all claims, the total dollar value of all valid claims filed, the cost of class administration and notice, applicable taxes on the settlement fund and any other related tax expenses, attorneys’ fees and expenses, and money awards to the Rule 23(b)(3) Class Plaintiffs for their representation of merchants in MDL 1720.

Why Sagemont Services?

We blend expertise with meticulous attention to detail to secure the maximum possible recovery for your business. Our process is streamlined and robust, requiring minimal effort on your part, and we operate on a success fee basis, ensuring that our interests are perfectly aligned with our clients’ interests.

OUR EXPERTISE

How We Excel

Expert Analysis

We leverage industry insights to assess your interchange fees accurately, even if your data is incomplete.

Comprehensive Recovery

Our approach includes all your entities – locations, subsidiaries, and acquisitions – to maximize your claim.

Effortless Process

We minimize requests to you and your staff, handling all the complexity of the claim on your behalf.

No Upfront Cost

We only earn a fee if we successfully recover funds for you. No recovery means no fee.

The Process

How to Get Started with Sagemont Services

Contact Us: Reach out to our team by filling in a simple form on our website.
Data Collection: Provide your Merchant ID Number, Employer Identification Number (EIN), and other basic business information.
Claim Submission: We submit your claim and handle all correspondence with the Settlement Administrator.
Recovery & Payment: Once successful, receive your funds directly, with our fee subtracted from the recovered amount.

Sagemont Services: Your Trusted Partner in Visa/Mastercard Interchange Fee Settlement Recovery