If your business accepted Visa or Mastercard payments between 2004 and 2019, you could be owed up to $2,000 or more thanks to a massive legal settlement — but time is running out. A landmark $5.54 billion class-action settlement is offering refunds to millions of U.S. merchants, large and small, who paid inflated swipe fees for years. The best part? If you’re eligible, you don’t have to prove the companies did anything wrong — you just have to file a claim by February 4, 2025 to get your money.
Here’s how it works, who qualifies, and how to make sure you don’t miss out on your share of one of the largest antitrust settlements in U.S. history.
Why Visa and Mastercard Are Paying Billions Back to Merchants
This all stems from a long-running lawsuit, In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, which accused Visa and Mastercard of overcharging businesses on interchange fees, often called “swipe fees.” These are the charges that credit card companies impose every time a customer uses their card.
Merchants argued that Visa and Mastercard worked together unfairly to keep fees high, making it harder for businesses to compete and survive. After years of legal back-and-forth, the companies agreed to a $5.54 billion settlement to resolve the case — without admitting wrongdoing.
Now, eligible businesses have a chance to recoup thousands of dollars, simply by filing a claim.
Who Is Eligible for the Refund?
If you’re a business owner or operated a business that accepted Visa or Mastercard between January 1, 2004, and January 25, 2019, you likely qualify — even if you’ve since closed your business.
To be eligible:
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You must have accepted Visa and/or Mastercard credit or debit payments in the U.S. during the timeframe
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You must not have opted out of the class action when the case was originally filed
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You must file a claim before the deadline
This includes restaurants, shops, online sellers, service providers, and nonprofits — basically any entity that processed card payments during those years.
How Much Can You Actually Get?
The amount you receive depends on a few key factors:
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How much you processed in Visa and Mastercard payments between 2004 and 2019
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How many valid claims are filed
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Administrative costs and legal fees, which will be deducted from the total settlement pool
Some small businesses are expected to receive $1,000–$2,000, while larger retailers that processed millions in card payments could receive significantly more. Even a modest refund could help with rising costs or business reinvestment.
How to File Your Claim (It’s Easier Than You Think)
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Go to the official website:
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Click “Submit a Claim”
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Provide your Taxpayer Identification Number (TIN) or business info
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Follow the steps to upload any supporting documentation (if requested)
The process is secure and free, and you don’t need a lawyer or third-party company to help — beware of scams offering to “file for you” for a fee.
Why You Should Act Now
The final deadline is February 4, 2025, but don’t wait — the earlier you submit, the sooner your claim is processed. After that date, the portal closes, and any unclaimed funds could go back into the legal system or be redistributed to other claimants.
