“If your business accepted Visa or MasterCard at anytime since 2004, there is $6B in cash available for you. Let us help you recover your full share.”
JJ Thomas, Esq. – CEO
Class Action Capital
Class Action Capital collaborates with businesses to recover money for our clients from class action settlements. We maximize their financial recovery while minimizing their time, cost and risk.
What are the most important terms of the credit card related settlement with Visa and MasterCard? The preliminary terms of the settlement are: Businesses will receive approximately $6.05 billion in cash benefits. Businesses will receive approximately $1.2 billion in reduced interchange, or swipe, fees from a 10-basis point reduction of these fees over ... more
How is the financial value of my Claim calculated? The Claims Administrator, a third-party company hired to administer the settlement on behalf of the attorneys and the Court, will determine, based on their data provided to them by the Defendants and any data you provide, how much in interchange, or “swipe”, fees your business paid ... more
On Friday, July 13, 2012, Visa, MasterCard and various large card issuing banks, e.g., JP Morgan Chase, Bank of America and Wells Fargo, agreed to settle the “swipe fee” class action lawsuits filed in 2005. The terms of the Settlement are not finalized, but the preliminary terms are $6 Billion in cash available to businesses ... more
- This Settlement is a result of class action lawsuits filed in 2005 alleging Visa and Mastercard fixed, or inflated, the fees paid for processing credit and debit card payments, i.e., the interchange or "swipe" fees.
The Settlement applies to any businesses or other entities that accepted Visa or Mastercard debit and/or credit card payments. The time frame where payments had to be accepted in order to qualify is anytime between January, 2004 and the present. A business/entity did not need to accept Visa/Mastercard payments the entire time, but, rather, just at any point during that span of time.
- Generally speaking, the recovery amount will be determined based on 1) the amount of time applicable payments were received; 2) the type of debit/credit transactions; and 3) the overall volume of payments received.
- The cash portion of the Settlement available to those businesses or entities that file qualifying Claims is approximately $6 Billion.
Who Can Recover Money From This Settlement?
Gas Stations/Convenience Stores
Hotels and Motels
Concert Venues/Sports Arenas