Payment Card Interchange Fee Settlement
Great news! Franchise Payments Network has teamed with Brownstone Recovery to help merchants understand and participate in Payment Card Interchange Fee Settlement. If you want to know more, we’re here to help you.
What Is This Case All About?
A Court case was settled between a group of merchants and Visa, MasterCard, and issuing banks related to rising interchange fees. Merchants believed the fees rose unfairly. On Friday, December 13, Judge Brodie of the U.S. District Court in Brooklyn, NY granted final approval of the Visa/MasterCard Interchange Fee Settlement. The terms of this proposed settlement modify and supersede the previous settlement that was remanded by the Second Circuit Court of Appeals in 2016. Claim forms are not yet available.
So What Are Your Options?
Option 1 – Do nothing and do not receive your share of the settlement. Note: If you want to participate, you must take action in this class action to receive compensation.
Option 2 – File your own claim by working with the official settlement administrator. For more information, and contact details for no cost assistance, you can visit www.paymentcardsettlement.com. Claim forms are not yet available and there is no necessity to file with a third-party provider.
Option 3 – Retain Brownstone Recovery to work on your behalf and help you recover your share of the settlement. Their areas of expertise are interchange fees and class action settlements. We will focus on your claim while you focus on your business.
Retain Brownstone Recovery
A claim form is not yet available. Class members are not required to sign up for a third-party service like Brownstone Recovery in order to participate in any monetary relief, and “no-cost” assistance is available from the Class Administrator and Class Counsel. You can file yourself by going to www.paymentcardsettlement.com or by calling 1-800-625-6640.