Recently, news related to the antitrust settlement involving Visa and Mastercard has garnered significant attention. Previously, retailers filed a class action lawsuit against Visa and Mastercard, accusing these two major U.S. credit card companies of setting rules to prevent merchants from using other payment methods while trying to resolve the high swipe fees.

The case was settled in March 2023, with Visa and Mastercard agreeing to compensate affected merchants for their monopolistic practices in fee charges. It is estimated that around 12 million merchants will receive a portion of the settlement compensation, and you might be one of them.

We have noticed that many merchants have recently received claim letters regarding the antitrust settlement. If you operated a U.S. business that accepted Visa and/or Mastercard credit or debit cards between January 1, 2004, and January 25, 2019, you are eligible to participate in this antitrust settlement claim.

The outcome of this settlement may cause some fluctuations in the overall pricing structure of the payment industry. This means you might see adjustments in transaction fees over the coming period. These changes are not only due to market dynamics but also as the industry adapts to new regulatory environments and business practices.

As a restaurant SaaS provider dedicated to providing quality service to our customers, MenuSifu understands the importance of payment processing fees to your business operations. We will provide free claim application services for MenuSifu USezpay users and closely monitor the development of this event with merchants. We ensure that our users continue to enjoy the best payment solutions.

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FAQs

‍Q：How should I file a claim?

A：Claim forms began mailing on December 1, 2023, and will continue to be sent out on a rolling basis. You can scan the QR code provided on the claim form and use the credentials provided on the form to submit your claim. Alternatively, you can mail the claim form to the specified address. If you choose to submit your claim online, you can visit the official claims website (www.paymentcardsettlement.com) and enter the Claimant ID and Control Number provided on the received claim form, or use your taxpayer identification number and some additional information to submit. Online applications must be submitted by 11:59 PM (Pacific Time) on August 30, 2024.‍

If you are a MenuSifu USezpay merchant, we will provide free claim application services and submit the claim on your behalf. We will contact you via email, and you may be required to provide relevant documents needed during the application review phase.

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Q：Am I eligible to file a claim?‍‍

A：Anyone business or entity that accepted Visa and/or MasterCard payments services between January 1, 2004, and January 25, 2019, is eligible to receive a portion of the settlement compensation.‍

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Q：How much compensation can I receive?

A：The value of each claim is based on the actual or estimated swipe fees paid by the merchant to Visa and MasterCard from January 1, 2004, to January 25, 2019.‍

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‍Q：When is the deadline to file a claim?‍

‍A：The claim period is from December 1, 2023, to August 30, 2024.‍

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Q：When will I receive compensation?‍

‍A：No payments will be made until after the claims period ends on August 30, 2024. Since the pro rata amounts can only be determined after all claims are filed, reviewed, and approved by the court, the exact payment date is currently unknown. Payments are expected to take a significant amount of time.‍

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‍Q：‍Where can I find more information?‍

‍A：You can read more detailed information on the official website: www.paymentcardsettlement.com/en.