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If your business accepted Visa or Mastercard payments any time during the 15-year period from 1/1/2004 through 1/25/2019, your company was overcharged transaction fees and is eligible to file a claim in the PCIF settlement. [PCIF = Payment Card Interchange Fees]. You can verify this settlement is real by Googling “PCIF Settlement”. The deadline to submit a claim is February 4, 2025.
Business leaders tell us they are concerned that their claim submission may be significantly undervalued and that the claims process is cumbersome. They often don't get a response from the Claim Administrator’s office after a submission.
They simply want to focus on running their business rather than dealing with the hassle of managing their claim.
Our experts have been researching, compiling, and negotiating clients’ claims for 15 years. Clients value our specialized expertise, responsive customer service, and hassle-free process that leads to their receiving a check in the mail. We work with you on a contingency basis that incentivizes us to maximize your recovery. The money is waiting for you to claim from this $5.54 billion settlement.
How much will a merchant recover? The pro rata amount depends on how many merchants submit claims and the amount of card volume that those claims include. When is the settlement fund expected to be distributed? Based on Class Counsel’s disclosures and our service experts' extensive experience, a distribution is expected in 2025. Is a merchant's banking information required? No, your banking information is not required to process your claim.
Note: Claim forms were being delivered and are available online beginning December 1, 2023. Class members need not sign up for a third-party service in order to participate in any monetary relief. No cost assistance is available from the Class Administrator and Class Counsel during the claims-filing period. For additional information, class members may visit the Court-approved website at Payment Card Settlement or contact Class Counsel or the Class Administrator.