What is the Visa & Mastercard lawsuit?
Visa and Mastercard have agreed to pay as much as $6.24 billion in a class action settlement brought by U.S. merchants. The lawsuit is about claims that Visa and Mastercard violated antitrust laws by having merchants pay excessive fees to accept Visa and Mastercard payments from January 1, 2004 through January 25, 2019.
What does this mean for me?
If you processed Visa and Mastercard credit cards at your business between January 1, 2004 and January 25, 2019, you may qualify to receive money from this class action settlement. The amount paid from the class action settlement will vary based on your actual or estimated interchange fees attributable to Visa and Mastercard transactions from January 1, 2004 through January 25, 2019.
How do I claim my recovery funds?
If the court approves the class action settlement, you will have to submit a court-approved claim form to the Class Administrator in order to receive payment. Alternatively, TouchSuite will pay you now in exchange for the rights to your contingent future class action settlement claim.
If I file a claim through the Class Administrator, when will I receive funds?
If you do not exclude yourself from the settlement and file a claim on your own, funds will be disbursed once the settlement is finalized, which could be years from now.
How can I receive my money quicker?
TouchSuite is offering you a lump sum payment today in exchange for the rights to your contingent future class action settlement claim. To find out how much you could receive, simply complete the form.
What is the benefit of payment through TouchSuite?
With TouchSuite, you could receive payment in approximately a couple weeks, as opposed to three years if you file a claim with the Class Administrator. Additionally, TouchSuite will make payments to merchants, such as yourself, regardless of the final outcome of the class action settlement. To receive payment through the Class Administrator, the court needs to still approve the class action settlement.
Know about upcoming important related events
January 1, 2004 to January 25, 2019 – Class Period
July 23, 2019 – Deadline to Exclude Yourself from the settlement
July 23, 2019 – Deadline to Object to settlement
November 7, 2019 at 10:00 am – Fairness Hearing
TBD – Claim Filing Deadline
Copyright © 2019 TouchSuite®. All rights reserved. American Bancard, LLC is a registered ISO of Wells Fargo Bank, NA, Walnut Creek, CA, and a Registered MSP/ISO of Elavon, Inc., Georgia and Commercial Bank of California, Irvine, California. Claims forms are not available yet. Assistance from the Class Administrator and Class Counsel will be available at no cost during the claims-filing period and merchants do not need to enroll in a third-party service to receive monetary relief. For additional information please visit the court-approved website at www.paymentcardsettlement.com.