Payment Card Interchange Fee and Merchant Discount Antitrust Settlement
SETTLEMENT FUND: $5.7 BILLION
Eligible Class Members: Class members that are eligible to receive a cash payment are all persons, businesses and other entities that accepted any Visa or MasterCard cards in the U.S. at any time from January 1, 2004 to November 28, 2012 (the “Cash Settlement Class”). There also is a separate class comprised of all persons, businesses, and entities that, as of November 28, 2012 or in the future, accept any Visa or MasterCard cards in the U.S. (the “Rule Changes Settlement Class”), who, under the terms of the Settlement, will obtain benefits from changes to Visa and MasterCard will make to their rules and practices.
Payment Processing Merchant Audits
Scope of Services
Our Credit Card two-phase approach to expense reduction is unparalleled in the payments industry. We correct the processing plan to reflect the most competitive plan type and rate, using formulated, specific asks of the existing provider. Our team then works with the client to further reduce the non-negotiable fees through processing optimization, where we can help qualify payment transactions at lower interchange rates by passing through additional processing data.
We have seen the highest success rate for merchants that process credit card transactions where the card is not physically present. This is referred to as a Card Not Present (CNP) environment, and includes B2B and eCommerce companies. Companies processing card payments between $1M and $20M on an annual basis typically have the largest potential savings opportunity. For card present locations, where the credit card is physically swiped at a terminal device, there may still be significant savings. As such, those types of merchants shouldn’t be overlooked or immediately disqualified.
• Law firms focusing on corporate litigation and transactions
• Corporate accounting firms
• Online retailers
• Phone / Internet / Catalog Order
Contact us to receive a risk free audit to determine overcharges and savings.