How to Claim Part of the $6b Visa & Mastercard Settlement: New Service Announced

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(Newswire.net — October 8, 2019) — Allies Business Advisors has announced a new service to introduce almost any company who accepted credit cards in the past 15 years to a reputable claims management company to help secure their share of the $6+ billion dollar class action lawsuit/settlement against Visa and Mastercard.

Emily Warrington – Business Correspondent, St. Petersburg, FL

There has been a recent surge of interest surrounding the history-making $6+ billion dollar class action lawsuit and settlement against Visa & Mastercard for anti-competitive practices. Many business owners have been searching for legitimate answers regarding what happened to interchange fees during the time period of this enormous antitrust lawsuit, and many more are actively trying to figure out how badly their business was impacted.

While many of the larger retailers such as Walmart have opted out of the class action settlement to pursue additional legal action on their own terms, the majority of small and medium-sized businesses who accepted credit cards at any point between January 1st 2004 and January 24th 2019 are eligible to participate as long as they take action. However, if a business fails to file their claim by the court-appointed deadline date (which is yet to be announced), then they may risk missing out.

Because of all the unknowns surrounding the case, a leading advisory service has announced that they can help navigate the process and connect business owners with a team of specialists who can help them claim their share of the upcoming settlement.

More information can be found at: https://www.alliesadvisors.com/visa-mastercard-settlement

Alongside their many other B2B services, Allies Business Advisors (recently endorsed by one of the sharks from SharkTank™) has undergone extensive research on the matter and found a reputable claims management company who has experience with this important legal case and the previous settlements associated with it. If requested, Allies Business Advisors can connect business owners with this team of specialists to help streamline the filing process.

However, it’s important for those owners to understand that they have a few different options to consider when it comes to participating in the settlement.

Our contact at Allies explained that “the case was ultimately brought about as a result of merchants being unhappy with unfair and ever-increasing interchange fees. Because of that, virtually every company that accepted credit cards between January 1st 2004 and January 24th 2019 should be eligible to claim their share of the payment card settlement as long as they complete the claims filing process and required forms.”

“Interchange fees are collected by banks whenever a merchant accepts a payment from a customer using a card. However, the lack of healthy competition in the card processing industry is what allowed those fees to skyrocket. Merchants then decided to fight back, sued Visa & Mastercard, and eventually won the case. Now, after much deliberation, we’re starting to move into the final payment phase.”

With this newly announced service, businesses in virtually every industry (that accepts payment cards) across the United States can file a claim to receive a portion of the Visa & Mastercard settlement refund. However, if is a business fails to file their claim by the court-appointed cut off date (which hasn’t been announced yet) they may risk missing out on it.

Allies Business Advisors explained that there are primarily three options for businesses who have been affected. They can either do nothing (and receive nothing), calculate and file their own claim using the appointed settlement administrator, or retain a vetted and recommended claims management service to work on behalf of the business (on a contingency basis – meaning they only get paid after the business has been paid).

Full details of the new service provided by Allies Business Advisors can be found at the URL above.

Disclaimer: Claim forms are not yet available. Note: You are not required to file with a third-party provider; doing so is 100% your choice. If you prefer to file and calculate your own claim by working with the appointed settlement administrator, contact details and information about the no-cost assistance can be found at: www.paymentcardsettlement.com