Every day, our clients ask us about the Payment Card Interchange Fee Settlement, which has been going on for years and has many extensions. The latest one is now February 4th, 2025. If you would like to read more about it. Here is the official link.
Our clients repeatedly ask us because every day, a company will call them up saying they help businesses by filing a claim on their behalf, and they work on a success-based basis. First, the case has a $5.5 billion dollar cap, which means, most likely, there won’t be anything left after the biggest merchants take their cut.
Secondly, if you want to file a claim for the Payment Card Interchange Fee Settlement just click here. It is FREE and only takes a few minutes. So now you don’t need to give 50% of whatever money you may receive.
The reason this class action lawsuit was brought in the first place is because of the lack of government regulation, which allows credit card processors to overbill merchants, inflate fees, insert junk fees, inflate interchange fees, and so on. However, to be clear, this case does not change any of that, nor does it make the processors play fair going forward. Instead, just the opposite will most likely be the case. I think anytime someone gets caught cheating and has to give money back, they are more likely to find a new way to get it back.
We have seen more of an uptick in deceptive billing practices over the last few years than ever before. Once they actually pay out $5.5 billion, watch their stock and see if it hits rock bottom, or will it be like nothing even happened? Again, I think the latter, which means they made all the money right back.
If you are here, you are hoping to get money back from the credit card processors on this class action lawsuit and while that most likely won’t happen, you can take advantage ofour Free Audit and find out how much your credit card processor is overbilling you and find out how much you may be able to recover from previous overbillings directly from your processor.
If you are not ready to get your free audit, no problem; take a look around our site. The more you learn about us, the more you will soon find out why we are America’s #1 Credit Card Processing Auditing Firm.
Or click here to check out what Kevin Harrington from the NBC hit TV show Shark Tank had to say about us.