Merchant Recovery Group

Merchant Recovery Group Website Signups

Did you have a business at any time between January 1, 2004 - January 25, 2019 that accepted Visa or Mastercard?

Yes

What is/was the legal name of the business?

Select your company type

What is your relationship with the business? (Title)

Do you have signatory authority for this business entity?

Business Tax Identification Number (EIN) for incorporated businesses or Social Security Number (SSN) for Sole Proprietorships - MUST BE 9 DIGITS

Was/is your business subject to a franchise agreement?

Yes

Estimated annual credit card sales

Authorized Party First Name

Authorized Party Last Name

Phone Number

Originator

Disclaimer

By submitting information through this form, you acknowledge and agree that the submission of your claim information via this website does not establish a contractual relationship between you and Merchant Recovery Group. A contractual relationship will only be established through a formal engagement agreement, signed by both parties. The accuracy, completeness, and truthfulness of the information submitted are paramount for the effective evaluation and potential handling of your claim. Merchant Recovery Group shall not be held responsible or liable for any errors, omissions, or inaccuracies in the information provided by you.

At its core, this lawsuit primarily revolves around the interchange fees paid by merchants to Visa or and/or Mastercard in credit or debit card transactions from January 1, 2004, to January 25, 2019, as well as the rules established by Visa and Mastercard for such merchants.

Class Plaintiffs claim that:

Visa and Mastercard, along with their member banks including the Bank Defendants, violated the antitrust laws by establishing and charging excessive interchange fees.

Visa and Mastercard, in conjunction with their member banks including the Bank Defendants, violated the antitrust laws by imposing and enforcing rules that restricted merchants from directing their customers to alternative payment methods. These rules encompass no-surcharge rules, no-discounting rules, honor-all-cards rules, and other similar regulations. These practices shielded Visa and Mastercard from competitive pressures to reduce interchange fees.

Visa and Mastercard collaborated on certain challenged business practices.

Visa and Mastercard persisted in these activities despite undergoing corporate structure changes and becoming publicly owned corporations after this case was initiated.

As a result of these actions, merchants paid excessive interchange fees for accepting Visa and Mastercard cards. Without the Defendants’ actions, either there would have been no interchange fee, or those fees would have been lower.

The Defendants, in contrast, assert their innocence, stating that their business practices are legal, justified, the result of independent competition, and ultimately beneficial to both merchants and consumers.

MasterCard and Visa faced a class action lawsuit for allegedly charging merchants excessive interchange fees (also known as swipe fees) on credit card transactions between 2004 and 2019. A $5.5 billion class action settlement fund has been established, enabling eligible businesses to file claims for the recovery of a portion of this settlement fund.

The deadline to submit a claim is August 30, 2024.

The sign-up process is straightforward. Complete the form below, and we will take care of all the necessary claim administration procedures on your behalf. We will assess your eligibility, submit your claim, and manage the claim approval process, including any necessary appeals. If your claim is approved, we will ensure the accuracy of the amount of the settlement fund awarded to you, and when paid in full, we will disburse funds to you directly less our service fee. Please complete the form below and we will contact you promptly to confirm your information and initiate the claim process.

Where can I find additional information about the settlement?
The Settlement Administrator and Class Counsel are available at no cost to your business to assist during the claims-filing period. For more information about the Settlement, or to access official claim forms, follow this link to the Payment Card Interchange Fee Settlement website: https://www.paymentcardsettlement.com

Do I have to hire someone to help me?
No. Engagement of our team or any third-party service is not a prerequisite for participation in any monetary relief that may be awarded as part of the settlement.

Do all businesses qualify for the settlement?
No, not all businesses will qualify. Businesses must be members of the Rule 23(b)(3) Settlement Class to qualify. Claim forms have been distributed and are accessible online as of December 1, 2023. Our law firm partner will submit your claim and will work with the settlement administrator to confirm that your business qualifies.
What is an interchange fee?
When a cardholder makes a purchase with a credit or debit card, there is an interchange 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.
How much money will I get?
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, which culminated in the Class Settlement Agreement, all as approved by the Court.
What if I no longer have my business?
Your business does not have to be active now for you to qualify. The business just had to be in existence any time between January 1, 2004 and January 25, 2019, and accepted Visa and Mastercard. Don’t worry if you closed your business or if it was dissolved by your state’s division of corporations. Once you hire our team to handle your claim, we will work with the settlement administrator to confirm whether your business qualifies.
How will I know if I don’t qualify?
We will work with the settlement administrator to determine whether you qualify. If you do not qualify, our team will let you know.
Do I have to pay you anything if I don't qualify?
No. You only pay us a fee if you recover compensation from the settlement fund. Our fee is 20% of the total compensation you recover.
Do I have to hire someone to help me?
No. Engagement of our team or any third-party service is not a prerequisite for participation in any monetary relief that may be awarded as part of the settlement. Our team has handled class actions for well over a decade and has won victories for clients worth over $2 billion dollars. This settlement requires the submission of a timely and valid claim, and not all businesses will qualify for a payment. We will work with the claims administrator to ensure that your business is eligible, and if so, that you are paid what you are entitled to. According to the FTC, nearly 90% of all those entitled to benefits in class action settlements never receive those benefits. Why is that? It’s because class members are not aware of the settlement, they do not know how to complete the required claim forms, they fail to complete the necessary documents, they fail to submit the claim forms on time, or they do not provide the necessary information when follow-up information has been requested by the settlement administrators. Our team will make sure your claim is properly and timely submitted and that there are no hiccups. We will also pursue any appeals that may be necessary to ensure you get the amount you are entitled to receive.
By signing the retainer, what are the main items I am authorizing Merchant Recovery Group to do for me?
By engaging us, you are giving our team authority to represent you in the claims administration process, including to communicate with the Settlement Administrator on your and your business’ behalf as a class member. Our team will serve as the sole representative for you and your business in connection with the settlement and in dealing with the Settlement Administrator for the entirety of the claim process, including to prepare, complete, and submit the claim to the Settlement Administrator; to communicate as necessary with the Settlement Administrator or Class Counsel about your business or its claim and the claim process; to respond to any follow-up requests from the Settlement Administrator for additional information or documentation necessary to prove a valid claim; to pursue any necessary appeal; and to ensure you and your business is properly and timely paid.
Where can I find additional information about the settlement?
The Settlement Administrator and Class Counsel are available at no cost to your business to assist during the claims-filing period. For more information about the Settlement, or to access official claim forms, follow this link to the Payment Card Interchange Fee Settlement website: https://www.paymentcardsettlement.com

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