VISA/Mastercard Settlement to Merchants
On January 24, 2019 the Court granted preliminary approval to the settlement filed on September 18, 2018. The lawsuit is about claims that merchants paid excessive fees to accept Visa and Mastercard cards because Visa and Mastercard, individually, and together with their respective member banks, violated the antitrust laws. Here is the link to the MCAG service for recovery of VISA and Mastercard Fees as well as the court approved website for information and status updates regarding the settlement. If your clients uses International Bancard for their merchant services the enrollment takes 5 minutes. Clients do not have to use MCAG services to file a claim they are just a service. There fee is 20% of any recovery, if they don’t recover anything on behalf of the client there’s no fees. See this article for more info on the terms of the settlement.