Credit Card Claims Services
Refund Claims Assistance for Businesses Accepting Credit or Debit Card Payments
If your business accepted MasterCard or Visa between January 2004 and January 2019, you may be entitled to a refund – and we can help you secure the recovery you are owed.
In the largest class action settlement in U.S. history, MasterCard and Visa have agreed to refund more than $5.5 billion to businesses that accepted their cards between 2004 and 2019. Refunds are not automatic, however. To be eligible you must submit a claim. To help you take advantage of this substantial payout benefit, our Credit Card Claims Services* offers professional assistance with the claims process and paperwork.
You’ll find the settlement specifics, including eligibility, detailed below and we encourage you to contact your PKF O’Connor Davies Relationship Manager or Ronald F. DeSoiza at [email protected] as soon as possible to explore whether you might qualify for a refund and how we can help you simplify the process.
The Payment Card Interchange Fee Settlement At-A-Glance
| What | In the nation’s most sizeable class action settlement, those who accepted payments using Visa and MasterCard may be eligible for refunds. |
| Who Should Apply for a Refund | Individuals, businesses and others that accepted MasterCard or Visa credit and debit cards in the U.S. between January 1, 2004 and January 25, 2019. |
| Why | The lawsuit claims that MasterCard, Visa and their member banks violated antitrust laws by adopting rules to prevent competition or incentive that might have reduced interchange fees. As a result, businesses accepting these credit and debit cards for payment were forced to pay excessive fees. |
| Estimating your Claim | The court has approved a settlement of between $5.54 and $6.24 billion to repay affected merchants. You may submit a claim for the full amount you collected, and for which you have credit or debit card receipts, during that period. The amount of the refund will be determined by the court administrator. |
| When | On January 3, 2020, following approval of the settlement, an appeal was filed. Although the length of the appeals process cannot be predicted, preparing claim statements may begin at once in order to take advantage of the time available between now and the opening of the claim period, should the appeal be denied, as is expected. |
| How We Can Help | The process requires the completion of two fairly simple and straightforward forms which you can complete on your own or have us handle for a separate fee.** |
| Next Steps | To participate, click on the link below to access the two forms you should complete and return to us:
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*Credit Card Claims Services (CCCS) are performed by J.E. Lawrence & Co., Claims Recovery Specialists. A referral fee paid to PKF O’Connor Davies will be deducted from the refund payment if recovery is successful for non-attest clients only.
**A filing fee is separate and apart from the referral fee.
For additional details, visit the official court-authorized settlement website: paymentcardsettlement.com
To speak to one of our relationship managers, click here.