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BPAA has followed the proceedings related to the “Visa/MasterCard Interchange Fee Class Action Settlement” [Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, MDL No. 1720]. This Settlement has been delayed since June 2016, but now appears to be close to establishing a claims process that will allow eligible merchants to claim their share of the billions in settlement funds.
BPAA has partnered with MCAG, a class action settlement expert, to assist our members in recovering the maximum amount you’re due from the Settlement. Through partnerships with dozens of payment processing companies, MCAG has access to a vast data set that will be used to supplement claims. This includes current and historical data for millions of merchants.
There are no upfront fees for MCAG’s service, but instead MCAG receives a contingent fee of 20% of recoveries (discounted from their standard rate of 25%). For this fee, MCAG will do all the data analysis, document preparation, claims filing, recovery and reconciliation. If there is no recovery from the Settlement, you will not be charged a fee.
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Benefits to help guide business decisions include extensive COVID-19 resources, industry advocacy and lobbying to positively influence legislation, and timely webinars.
Plus, benefits to help your team stay connected, like the member directory, BPAA News Daily, and eLearning courses for professional development.
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