Published
January 24, 2024
Updated
August 3, 2026
The $5.5 billion Visa and Mastercard interchange-fee settlement closed claims in February 2025. Initial partial payments have been issued, and a court-approved second partial distribution is anticipated in September 2026 for a defined group of claims.
Current Status
Claims are closed, but distribution is ongoing. Initial partial payments were issued in February 2026 for nearly 600,000 claims. The court approved a second initial distribution on June 15, 2026, and the official site anticipates that distribution in September 2026 for the limited claim population described in the May 26 motion. Other claims remain under review, and final awards are not yet known.StatusPartial Payments Issued; Second Distribution Pending
Claim DeadlineFebruary 4, 2025 — Passed
Settlement FundApproximately $5.5 Billion
Historical ProofMerchant and Tax-ID Claim Records
What Is the Visa Mastercard Interchange Fee Settlement?
The litigation alleged that Visa, Mastercard, and participating banks violated federal antitrust law through rules and practices affecting the interchange fees merchants paid when customers used Visa- or Mastercard-branded payment cards. The case spans years of litigation and concerns merchants that accepted the cards during the class period.The defendants denied the allegations and liability. The approximately $5.5 billion Rule 23(b)(3) settlement resolved the damages claims of the settlement class after final approval and appellate proceedings. It is separate from ongoing debates and other litigation over payment-card network rules.
Which Merchants Were Included?
The settlement class generally includes persons, businesses, and other entities that accepted Visa or Mastercard branded cards in the United States from January 1, 2004, through January 25, 2019. Eligibility and the estimated interchange fees attributed to a merchant are evaluated using tax identification numbers, merchant records, and data maintained by the administrator.A business did not need to still be operating when the claim period opened, but successors, prior owners, franchises, and third-party filers could present ownership or authorization questions. The administrator resolves claims on a tax-ID and merchant basis, and conflicting submissions can delay payment.
How Are Awards Calculated?
The administrator estimates the interchange fees attributable to each authorized claimant during the class period. The net settlement fund is then allocated pro rata after approved deductions and subject to the court’s distribution orders. A merchant’s sales volume or a preliminary estimate is not the final award by itself.Claim processing is still underway and outstanding legal issues remain. The official FAQ states that total awards cannot yet be calculated. A merchant that received an initial partial payment is expected to receive any remaining difference later if the final pro rata award exceeds that initial amount.
What Was the Claim Process?
Known merchants received claim credentials and could review or submit information through the Merchant Portal. The process allowed claimants to accept administrator estimates or provide research requests and sales data where permitted. Claims were due February 4, 2025 after extensions of the original filing schedule.Under OCA’s proof standard, this was proof-required because a claim had to be matched to merchant identity, tax and authorization records, and covered payment-card activity. Businesses using third-party claim filers remain responsible for understanding who controls communications and where any payment will be sent.
What Was the First Partial Distribution?
On October 30, 2025, the court approved an initial partial distribution. The official settlement FAQ says payments for eligible claims were issued in February 2026 and that nearly 600,000 claims received an initial partial payment.That payment was not necessarily the merchant’s full award. The court authorized a partial distribution while claim processing and other issues continued, preserving money for claims that were not yet ready and for later reconciliation.
What Is the Second Partial Distribution?
Class counsel moved on May 26, 2026 for a second initial distribution covering a defined group of merchants not included in the first round. The court approved the motion on June 15, 2026. The official homepage anticipates payments in September 2026.Not every unpaid claim is necessarily part of that group. The governing population is described in the court filing, and merchants with payable claims are expected to receive an email and an opportunity to make a payment election. A September estimate should not be presented as a guaranteed date for every claimant.
How Can a Merchant Check Its Status?
The official Merchant Portal displays claim and payment status. Terms such as conflict, research request, ready for payment, or other review labels have specific meanings explained in the official FAQ. A merchant should use its own portal record rather than assume that another business’s payment means every claim is ready.OCA cannot access the portal, resolve competing tax-ID claims, authorize a third-party filer, or calculate an award. Sensitive merchant and banking records should be submitted only through the official process.
Can a New Claim Be Filed?
No. The February 4, 2025 deadline passed. Current administrator work concerns claims that were timely filed, including validation, conflicts, payment elections, and partial distributions. The fact that another distribution is planned does not reopen filing.Merchants that missed the deadline should not pay a service promising to create a late claim. Merchants with an existing claim should preserve portal credentials and read administrator notices carefully.
Why Are There Multiple Payments?
The court chose partial distributions so a large group of payable claims could receive money without waiting for every claim and legal issue to be resolved. At least one later distribution will be needed after processing and outstanding issues are completed.This staged process means the correct current label is partial payments issued, not payments completed. It also means an initial payment amount should not be treated as a final settlement valuation for the merchant.
What Should Merchants Watch Next?
Merchants should watch the official homepage and Merchant Portal for the September 2026 payment election and distribution updates. The site, not an unsolicited caller, controls the current schedule and eligibility notices.Businesses that retained a third-party filer should confirm how that relationship affects communications and disbursement. The official court record has also documented complaints about some filing companies, making direct review of portal status especially important.
Official Information
Review the latest information on the official Payment Card Interchange Fee settlement website.
Case
In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation
Case Number
1:05-md-01720-BMC-JAM
Court
U.S. District Court, Eastern District of New York
Class Period
January 1, 2004–January 25, 2019
Settlement Fund
Approximately $5.5 billion
Claim Deadline
February 4, 2025
First Partial Distribution
Issued February 2026
Second Partial Distribution
Anticipated September 2026
Official Website
official Payment Card Interchange Fee settlement
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