Visa, Mastercard, and the Defendant Banks have reached a settlement, which arose from claims that merchants paid excessive interchange fees for accepting card payments. The deadline to file a claim is next Tuesday, February 4. AGD has selected MCAG, a class action settlement expert, to assist our clients in hopes of recovering the maximum amount you’re due from the settlement. 

What does this mean for you?

After close to a decade of legal discourse since a federal judge first approved it, this settlement offers potentially significant value to merchants. Under the settlement, merchants: 

• Have greater flexibility in some of the rules that govern interchange fees.
• Are provided with an opportunity to collect a portion of the interchange fees that they paid between January 1, 2004 to January 25, 2019. 

Learn more about settlement here.

Merchants must submit a claim into the settlement, or have a claim submitted on their behalf, to be eligible to receive any cash from the $5.54 billion settlement fund.

Via partnerships with dozens of payment processing companies, MCAG has access to vast data sets that will be used to supplement claims. This includes current and historical data for millions of merchants.

Next steps:

• Click here to access MCAG’s website or visit www.mcagregister.com, enter code AGD500 
• Scroll to the Agreement found at the bottom of the page 
• Fill in your business information and wait for your registration confirmation

Don’t miss your opportunity. Learn more.