Recovery Service for Visa MasterCard Interchange Fee Class Action Settlement Sub-Headline: It’s your money…we want to help you get it back!
Click here to access the secure online enrollment form to receive your share of the Settlement!
As your payments processor and merchant advocate, we have closely followed the proceedings related to what is commonly referred to as the Visa/MasterCard Settlement. NPC is pleased to offer a Class Action Settlement Recovery Service, on a pure contingent fee basis, through our strategic partnership with MCAG, LLC.
Visa/MasterCard Settlement Overview
There is over $5 billion available that is split into two funds, the Cash Fund and the Interchange Fund. The Settlement is designed to provide cash for eligible merchants:
- The Class, which could be expanded, currently includes merchants who accepted Visa and MasterCard credit or debit card purchases in the U.S. between January 1, 2004 and November 28, 2012, and who did not opt out of the class action by submitting an exclusion request to the Settlement Administrator in writing by May 28, 2013; and
- Merchants must submit a claim to the Settlement Administrator, or have a claim submitted on their behalf, to be eligible to receive any cash from the Settlement.
We have a convenient way to help you with the claims process.
NPC has chosen MCAG, a class action settlement expert, to assist our merchants in hopes of recovering the maximum amount you’re due from both of these Settlement funds. If you’re eligible and enroll with MCAG, then NPC will research and reconstruct your archived data and provide it to MCAG at no cost to you. MCAG will compile this information on behalf of enrolled merchants, create an appropriate estimate of your Visa and MasterCard volume across the entire settlement period, and submit your claim to the Settlement Administrator once the claim filing period opens.
Signing up is easy:
2. Enter in your business information and that’s it! (While providing historical MIDs may be helpful, it is only necessary to enter your current MIDs when completing the enrollment.)
Is there a fee for this service?
There are no upfront fees for MCAG’s service, but instead MCAG retains a percentage of any funds recovered. If no money is recovered for your organization by MCAG from this Settlement, then MCAG will not charge or retain a fee.
When you enroll in MCAG's Settlement Recovery Service, not only will they handle your claim for the Visa/MasterCard Settlement, but they'll also search for additional settlements for which you may be eligible. Examples of settlements covered by this service include those that reimbursed businesses for prior purchases of products such as computers, TVs, computer monitors, and office furniture. MCAG may need to collect some additional information for certain opportunities that arise in the future. We promise this process will be quick and painless. Remember, you always have the choice to pass on any settlement if you do not wish to fulfill the requirements.
Visa/MasterCard Settlement Disclaimer: The Second Circuit Court of Appeals reversed approval of the settlement and returned the case to the District Court on June 30, 2016. Litigation is ongoing. No claim forms are available at this time, and no claim-filing deadline exists. If another settlement is reached, no-cost assistance will be available from the Class Administrator and Class Counsel during any claims-filing period. No one is required to sign up with any third-party service in order to participate in any settlement. For additional information regarding the status of the litigation, interested persons may visit www.paymentcardsettlement.com, the Court-approved website for this case.