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PCIF - Credit Card Class Action

Did your business accept any VISA OR MASTERCARD branded cards in the United States? 

You may be eligible to recover money!



Total Settlements Reached: $5.54 Billion

Payment Acceptance Dates: January 1, 2004 - January 25, 2019

Filing Deadline: May 31, 2024

Eligible Class Members:

All persons, businesses, and other entities that accepted any Visa-or Mastercard-branded Cards in the United States at any time from January 1, 2004 to January 25, 2019. Excluded from this Class are (a) the Dismissed Plaintiffs, (b) the United States government, (c) the named Defendants or their directors, officers, or members of their families, and (d) financial institutions that have issued Visa-or Mastercard-branded Cards or acquired Visa-or Mastercard-branded Card transactions at any time from January 1, 2004 to January 25, 2019.


Claims Process Commenced in December 2023:

As discussed in more detail in the Case History section, the settlement that the Rule 23(b)(3) Class reached in or about September 2018 (the “Superseding Settlement”) is now final. In September 2023, the district court approved the form of the proof of claim and claims-filing period. Claim forms are being delivered and are available online beginning December 1, 2023. As described below, FRS believes that we provide services that could increase your potential recovery from the settlement fund.​

  • What if a merchant changed merchant processors and does not have records for the Class Period?
    With a merchant’s authorization, FRS will work with merchant services providers to obtain recent data and business information that FRS will use in its proprietary model to estimate card volume for the Class Period and to work with the Class Administrator to confirm interchange data. In some instances, FRS is already working with a merchant’s processor, which will expedite the flow of information that FRS needs to maximize a claim.
  • How much will a merchant recover?
    A merchant will receive its share of the approximately $5.54 billion settlement fund based on its proportionate share of interchange fees that all claimants paid during the January 2004 to January 2019 Class Period. In other words, recoveries will be based on the amount of a merchant’s card volume and on the total card volume submitted and approved for all claimants. That pro rata amount thus depends on how many merchants submit claims and the amount of card volume that those claims include. At this time, it is too early to tell how much that will be.
  • When is the settlement fund expected to be distributed to class members?
    At the status conference held on September 7, 2023, the district court approved both the form of the proof of claim and the proposed claims filing period, which is expected to begin on December 1, 2023 and run through May 2024. That claim filing period will then be followed by an audit and deficiency period that, based on the process described by Class Counsel, likely will last many months. Based on Class Counsel’s disclosures and on FRS’s extensive experience, FRS believes that a distribution may be conducted sometime in 2025.
  • If a merchant received a pre-populated claim form, does it still need FRS?
    Every class member may always file a claim without retaining FRS. However, FRS provides services that likely will alleviate the administrative burden associated with preparing, filing and substantiating a claim, as well as the backand-forth claim management that often is necessary. In addition to the significant time savings, FRS’s proprietary model is designed to enable merchants to maximize their claims in light of such complicating factors as: (1) using Visa data to estimate Mastercard data; (2) merchants changing merchant processors throughout the Class Period; (3) merchants moving; (4) merchants adding locations; (5) merchants closing locations or shutting down operations completely, especially with the impact of COVID 19; and (6) mergers and acquisitions that may result in merchants overlooking card volume that should be included in their claims and thus not maximizing their recoveries. FRS’s experience will help mitigate most of those variables so that a complete and accurate proof of claim is submitted.
  • If a merchant retains FRS, will the claim form go to the merchant or to FRS?
    To make the process for its clients as efficient and seamless as possible, FRS is in communication with the Class Administrator to ensure that claim forms for all of its clients are sent directly to FRS. FRS will make every attempt to obtain claim forms for new clients that have not signed up yet but do so before claim forms are disseminated. FRS will also work directly with the Class Administrator to submit any “missing” claim forms that were never received by FRS or the merchant.

For additional information, visit the Court-approved website,, or contact Class Counsel or the Class Administrator.

  • Claim forms are being delivered and are available online beginning December 1, 2023.

  • Class members need not sign up for a third-party service in order to participate in any monetary relief.

  • No-cost assistance is available from the Class Administrator and Class Counsel during the claims-filing period.

  • FRS believes that they provide services that could increase your potential recovery and that are unlikely to be provided by the Class Administrator or Class Counsel. Please understand that you have the right to file on your own.

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