Visa & Mastercard Might Owe You Money...
Visa & Mastercard Might Owe You Money...
(If you've used a merchant account in the past 15 years, you're most likely eligible).
(If you've used a merchant account in the past 15 years, you are most likely eligible.)
Almost every business owner we've spoken with isn't aware of the $5.54–$6.24 billion dollar class-action lawsuit against Visa and Mastercard for anti-competitive practices...

Have you ever felt frustrated by the fees you pay to accept credit card payments?

Yeah... us too. Turns out we sued them and won. But hardly anyone is aware that it's moving into the final payment phase...
Visa & Mastercard Class Action Lawsuit
If you accepted Visa or MasterCard between Jan 1st, 2004 and Jan 24th, 2019, you are part of a lawsuit that resulted in a ~ $7+ billion settlement.
UPDATE: On January 25, 2019, a superseding and amended Settlement Agreement was preliminarily approved by the Court. 

Technically, this is a ‘new’ proposed $5.54–$6.24 billion settlement to provide payments to any merchants who were impacted by their anti-competitive practices (nearly all of us). 

Next Step: We are waiting for the Courts to declare the claim form (enrollment) deadline as well as providing the official enrollment details...
So What does this mean for you?
The original court case was between a group of merchants fighting against Visa, MasterCard, and the issuing banks about unfair practices related to interchange fees.

"Interchange" is the fee collected by banks every time a merchant accepts payment from a customer using a credit card. I'm sure we don’t have to tell you how absurd the fees have become. But the lack of competition meant steadily rising costs and no alternatives for business owners. 

Finally, merchants fought back and sued. Both parties originally agreed to settle for more than $7 billion dollars, but many larger retailers like Walmart and Google took separate legal action with their own divisions of attorneys.

However, since most small to medium-sized businesses don't have the resources to do that on their own, so the only thing they could do was wait. Finally, after lengthy discussion and separate agreements, the Judge has preliminarily approved the payment plan for the massive settlement.
What are YOUR options?
Option 1: Do nothing and you will not receive your share of the settlement. Note: If you want to participate, you must take action to receive compensation. No money will be sent to a merchant who hasn't filed to participate. You might have heard of an 'opt-out' allowing you to take a separate action outside of the primary Settlement - unfortunately that cutoff date has passed. 

Option 2: File and calculate your own claim by working with the appointed settlement administrator. For contact details, and more information on the no cost assistance, you can visit www.paymentcardsettlement.com. For the full terms of the Settlement, take a look at the Superseding and Amended Definitive Class Settlement Agreement of the Rule 23(b)(3) Class Plaintiffs and the Defendants and its Appendices (the “Class Settlement Agreement”), here.

Option 3: Retain Brownstone Recovery Group, a claims management company we recommend, to work on your behalf and help you recover your share of the settlement. The reason why we endorse Brownstone is because of their expertise in successfully handling the previous class action case involving Visa and MasterCard (experience matters a lot with these). They specialize in interchange fees and class action settlements, and we like that they only work on a "contingency" basis - meaning they only get paid IF you get paid (out of the settlement proceeds). 

As an added bonus, since Allies Business Advisors and our partners at UBS have a vast business network and clientele, we negotiated the success fee that Brownstone normally charges down to a fraction of what most companies happily pay to not have to deal with the filing process. Just answer 6 short and simple questions to get started and they'll get in touch with you to explain how it works. From there, you can decide if you'd like to move forward on your own or with their help so you can stay focused on your business. 
Let's Keep going... 
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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