For many years, millions of U.S. merchants — from small mom-and-pop stores to large retail chains — were paying credit card processing fees without realizing that many of those charges could eventually be refunded. In 2025, this became reality when the Visa-Mastercard Class Action Settlement was officially approved, making it one of the largest financial settlements in U.S. history. The settlement finally offers long-awaited compensation to businesses unfairly charged excessive “swipe fees” between 2004 and 2019.
If you processed Visa or Mastercard transactions during that period, you may be entitled to a refund of up to $2,000 or more, depending on your transaction volume. This comprehensive guide breaks down everything you need to know about the Visa-Mastercard Class Action Settlement—including eligibility, documentation, payout details, deadlines, and how to avoid scams.
What Is the Visa-Mastercard Class Action Settlement?
The Visa-Mastercard Class Action Settlement comes from a major antitrust lawsuit where U.S. merchants accused Visa, Mastercard, and several large banks of violating antitrust laws by inflating merchant swipe fees. Swipe fees are charges businesses pay each time a customer uses a Visa or Mastercard debit or credit card. For 15 years, merchants argued these fees were unfairly high due to lack of competition.
After years of legal battles, Visa and Mastercard agreed to pay approximately $5.54 billion to settle the case. These funds will be distributed among eligible businesses that accepted Visa or Mastercard between January 1, 2004, and January 25, 2019. The Visa-Mastercard Class Action Settlement aims to compensate business owners who unknowingly paid inflated fees for years.
This settlement is a major victory for U.S. merchants, especially small businesses that struggled under rising operating costs and tight profit margins.
Who Qualifies for the Visa-Mastercard Class Action Settlement?
To qualify as a Class Member, your business must meet the following requirements:
✔ Accepted Visa or Mastercard payments between 2004 and 2019
Any merchant — physical or online — that processed transactions using these cards during the settlement period is likely eligible.
✔ Operated within the United States
Only U.S.-based businesses qualify under the Visa-Mastercard Class Action Settlement.
✔ Retailer, service provider, e-commerce business, or merchant of any size
From restaurants and salons to gas stations, contractors, and online stores — virtually all types of businesses qualify.
✔ Independent contractors and sole proprietors also qualify
If you used a mobile card processor (like Square, Stripe, PayPal, Clover), you are likely eligible too.
Even if you sold your business or shut it down, you may still claim your share if you can prove past operations.
How Much Money Can a Business Receive?
Refund amounts under the Visa-Mastercard Class Action Settlement depend on:
- Total Visa/Mastercard transaction volume from 2004–2019
- How many merchants file a claim
- The proportion of funds allocated to specific transaction types
Most small and mid-sized businesses are expected to receive between $500 and $2,000, while high-volume merchants may receive significantly more.
Since this is a proportional settlement, the more you processed, the bigger your refund will be.
How to Check Eligibility for the Settlement
The official settlement website provides two primary methods to confirm eligibility:
1. Check Online
Visit www.paymentcardsettlement.com (official court website)
Enter your business name or Tax ID (EIN) to verify if you are listed as an eligible Class Member.
This is the fastest and most reliable method.
2. Notice Received by Mail
Many merchants already received mailed notification letters containing:
- Claim Number
- Confirmation Code
These codes allow quick access to your business records on the settlement portal.
If you didn’t receive a letter, you may still apply manually.
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How to File a Claim Under the Visa-Mastercard Class Action Settlement
Filing a claim is simple and free. You can submit your claim in two ways:
✔ Online Claim Submission
Visit the settlement portal, create an account, and enter:
- Business name
- EIN or SSN (for sole proprietors)
- Years in operation
- Estimated transaction volume
✔ Mail-In Claim Form
Download the form from the official website, fill it out, and mail it to the settlement administrator.
Important documents that help your claim:
- Bank statements
- Merchant service provider statements
- Credit card processing records
- Old invoices showing card transaction volumes
Even partial documentation may be accepted, as Visa and Mastercard have historical transaction data for many merchants.
Deadline to File Your Claim
The deadline is expected to fall around mid-2025, although the exact date may be updated by the settlement administrator.
Delayed claims risk rejection, so it is strongly advised to submit early.
When Will Payments Be Issued?
Once claims are reviewed and approved, payments under the Visa-Mastercard Class Action Settlement are expected to be issued:
⏳ Late 2025 to Early 2026
Payments can be delivered via:
- Direct deposit
- Physical check
- Prepaid debit card (in rare cases)
The settlement administrator will notify you by email or mail when your payment is ready.
Is There a Fee to File a Claim?
Absolutely NOT.
Filing a claim under the Visa-Mastercard Class Action Settlement is 100% free.
Beware of scammers charging:
- “Processing fees”
- “Application fees”
- “Guaranteed refund consultancy” charges
These are fraudulent.
Only use the official website for claim submission.
Do You Need a Lawyer?
No lawyer is required.
The court has already appointed attorneys to represent all Class Members. Your claim will be processed fairly, just like everyone else’s.
Hiring your own lawyer will not increase your refund amount.
Is the Settlement Payment Taxable?
In many cases, refunds under the Visa-Mastercard Class Action Settlement are treated as compensation for overpaid business expenses and may not be taxable.
However, tax rules vary, so check with your accountant to classify the refund correctly.
What If You Didn’t Receive a Notice?
Even without a mailed notice, you can still apply.
Just provide:
- Proof your business existed during 2004–2019
- Proof you accepted Visa/Mastercard payments
Examples include processor statements from:
- Square
- Stripe
- PayPal
- Clover
- Bank merchant accounts
This is enough to validate your claim.
How to Avoid Scams During the Settlement Process
Since the Visa-Mastercard Class Action Settlement is so large, scammers are actively targeting merchants.
Protect yourself by:
- Only using paymentcardsettlement.com
- Never paying for application assistance
- Ignoring emails asking for bank details
- Reporting suspicious messages to the administrator
Remember: The IRS, Visa, Mastercard, or banks will never call you about this settlement.
Why the Settlement Matters for U.S. Businesses
This legal victory is more than a refund — it represents a milestone in restoring fairness in the payment processing industry.
For decades, inflated swipe fees hurt small businesses the most. The Visa-Mastercard Class Action Settlement sends a clear message that dominant corporations cannot impose unfair costs without accountability.
It also establishes a powerful precedent for future financial justice and consumer protection cases.
Conclusion: Don’t Miss Your Share of the Settlement
If your business accepted Visa or Mastercard payments anytime between 2004 and 2019, you may qualify for a refund under the Visa-Mastercard Class Action Settlement. The payout could range from a few hundred dollars to several thousand — money that rightfully belongs to you.
✔ No fees
✔ No lawyers required
✔ Easy application
✔ Refunds expected in late 2025 or early 2026
Visit the official settlement website and file your claim before the deadline.
This is your chance to receive long-overdue compensation and participate in one of America’s largest business settlements.
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