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What?

If your U.S. business accepted Visa and/or Mastercard payment cards from 1/1/2004 through 1/25/2019, you may be eligible to file a claim to recover your portion of the $5.4 Billion settlement . We know you are busy which is why we can handle this process for you with NO upfront charge! The 2/4/25 deadline to submit is approaching fast! ​

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How?

  1. Submit the Claimant Intake Form. 

  2. After submission we will email you a merchant questionnaire if you meet the qualifications.

  3. Upon review of the questionnaire and supporting documentation our team will email you with an engagement letter for review and signature.

  4. Thats it!​​

Claimant Intake Form

At this time, SRC1 is only submitting claims on behalf of merchants who meet the following requirements:

  1. Accepted Visa and/or Mastercard payment cards for at least 5 years of the class period (2004-2019);

  2. Averaged at least $500,000 per year in total estimated sales volume associated with Visa and/or Mastercard transactions during those minimum 5 years during the class period (2004-2019); and

  3. Provide a merchant statement or other documentation for ANY one year supporting the annual processing volume provided to SRC1.

The $5.4 Billion
Settlement

What is this lawsuit about?

  • This lawsuit is principally about the interchange fees attributable to merchants that accepted Visa or Mastercard credit or debit cards between January 1, 2004 and January 25, 2019, and Visa’s and Mastercard’s rules for merchants that have accepted those cards. The Rule 23(b)(3) Class Plaintiffs claim that Visa and Mastercard and the other associated defendants violated the law because they set interchange fees, imposed and enforced rules that limited merchants from steering their customers to other payment methods, and conspired together about some of the business practices challenged, causing merchants to pay excessive interchange fees for accepting Visa and Mastercard cards. Defendants claim their business practices are legal and justified.

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Am I a part of this settlement?

  • The Rule 23(b)(3) Settlement Class, consists of All persons, businesses, and other entities that have accepted any Visa-Branded Cards and/or Mastercard-Branded Cards in the United States at any time from January 1, 2004 to January 25, 2019, except that the Rule 23(b)(3) Settlement Class shall not include (a) the Dismissed Plaintiffs, (b) the United States government, (c) the named Defendants in this Action or their directors, officers, or members of their families, or (d) financial institutions that have issued Visa-Branded Cards or Mastercard-Branded Cards or acquired Visa-Branded Card transactions or Mastercard-Branded Card transactions at any time from January 1, 2004 to January 25, 2019.

 

How much money will I get?

  • The amount paid from the $5.54 billion settlement fund will be based on your actual or estimated interchange fees attributable to Visa and Mastercard transactions (between you and your customer) from January 1, 2004, through January 25, 2019. The amount of money each Authorized Claimant will receive from the settlement fund cannot be calculated prior to submitting the claim as it depends on many factors, including the money available to pay all claims, the total dollar value of all valid claims filed, the cost of class administration and notice, applicable taxes on the settlement fund and any other related fees, expenses, and awards as approved by the Court.​

 

Have questions?

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How does SRC1 get paid? 

There is no upfront cost to have us work for you. We work off a performance-based fee. This means that we receive a percentage of your recovery from the Settlement Fund.

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