Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, MDL 1720

Settlement Fund: $5.54 Billion

Claim Filing Deadline: TBD; claim forms are not available at this time, but expected to become available in December 2023

Class Period: January 1, 2004 - January 25, 2019

Learn more and set up a call today at: https://paymentcardclaims.com

By the end of this year, claim forms will—at last!—become available in the Payment Card Interchange Fee Litigation. (Also known as the Visa-Mastercard settlement.) Whatever your needs, the team at CCC and Mitena Partners can help. Some claimants may want to amend or supplement their claims with data the defendants may have missed. Others may prefer an infusion of capital now rather than wait for a distribution at an unknown date. And others may want a combination—CCC experts audit, review, and amend a claim so it receives the award your company deserves, and then we purchase the claim.

What this case is about

This landmark settlement resolves claims that Visa, Mastercard, and other banks engaged in anti-competitive practices, driving up interchange fees and harming businesses across the nation. The settlement would represent a significant victory for merchants and offers an opportunity to recover a portion of the fees paid.

This case began in 2005, and while an imminent start of the claim process may be a relief, claimants may need help with their recoveries. Starting in December, class members will receive a prepared claim with an estimated damage amount based on the defendants’ records of their transaction fees. At this point, claimants can accept the claims administrator’s determination.

However, there are two issues class members should consider:

1.     What if the prepared claim does not reflect all of your transactions and fees?

2.     How much longer do you have to wait for a settlement award, and should you wait at all?

In the first instance, it may help to amend the claim. According to the draft version of the claim form, now available on the court docket, each form will include the following language:

“Do you think the summary above is missing transactional data related to your business? If so, please visit the Case Website where you can provide additional information about your business. You can ask the Class Administrator to use the additional information you provide to re-query the Defendants’ database for additional transactional data that may be available. You can also provide your own transactional data (if you have it), showing additional Interchange fees paid on Visa and/or Mastercard transactions accepted by your business during the Class Period.”

That’s right, you have the opportunity to review your records from as far back as 19 years ago to bolster your claim. That effort could significantly increase your claim, but you also have a business to run. CCC can do this work for you.

In the second instance, you do not have to wait!

This case began nearly two decades ago. Why wait any longer? Mitena Partners, a member of the Chicago Clearing Corporation family, is ready to monetize claims now.

An infusion of capital can help your business take that leap you’ve been dreaming of: open another location, hire more staff, upgrade vital IT networks—whatever you might need. Mitena is prepared to make a competitive bid on any eligible Visa Mastercard claim. Mitena can even amend your claim and then monetize based on that more robust projected recovery. We can help you get back to what you do best—and help you do it better.

Why Choose CCC and Mitena?

Mitena Partners is backed by CCC, the leader in the class action settlement recovery industry. With CCC’s 30 years of experience paired with Mitena's innovative approach powered by SaaS (Software as a Service), your company will have a quick, streamlined solution to the claims filing process.

Mitena focuses on the Payment Card Settlement so you don't have to. Their team provides you with expertise to understand the history of this litigation, its complexities, and your options for accelerated recovery options.

CCC and its partner companies have helped millions of claimants recover funds in thousands of class actions. This unparalleled expertise makes Mitena Partners uniquely qualified to examine, audit, and bid on your claim, no matter the volume or tricky historical data issues that you may face.

To learn more about this litigation, give us a call today at (312) 574-0655.

Payment Card Settlement Disclaimer:
The Court has granted final approval of a settlement to resolve the class action. Claim forms are not yet available and class members need not sign up for a third-party service to recover settlement funds. Once a claim’s process is available, no-cost assistance will be available from the Class Administrator and Class Counsel. Additional information regarding the litigation is available on the Court-approved website at www.paymentcardsettlement.com.