Visa and Mastercard Class Action Payment: 2025 Update, Eligibility, and How to Claim ; Canadian businesses that accepted Visa and Mastercard between 2001 and 2021 could be eligible for compensation through one of the largest class action settlements in Canadian history. This legal case addresses excessive interchange fees—also known as swipe fees—charged to merchants.
In 2025, the claims process has entered a new phase, and eligible businesses can now file or confirm their compensation as part of the settlement fund distribution.
Overview: Visa/Mastercard Class Action Settlement
| Feature | Details |
|---|---|
| Settlement Name | Visa/Mastercard Interchange Fees Class Action (Canada) |
| Total Settlement Amount | Over $131 million CAD (in multiple stages) |
| Eligible Businesses | Merchants that accepted Visa/Mastercard between 2001 and 2021 |
| Claim Process Type | Online filing (manual or simplified options available) |
| Payment Range | Based on sales volume – from $30 to $10,000+ |
| Deadline to File | September 30, 2025 (Phase II Deadline) |
| Administered By | Epiq Class Action Services Canada |
| Official Website | www.creditcardsettlements.ca |
| Next Payout Window | Expected in late 2025 or early 2026 |
What Is the Lawsuit About?
This class action lawsuit alleged that Visa and Mastercard, along with major banks, conspired to fix the fees charged to merchants for credit card transactions. These “interchange fees” often made it more expensive for businesses to accept card payments, impacting both small businesses and major retailers.
The court-approved settlement allows impacted merchants to receive part of a multimillion-dollar compensation fund—whether or not they still accept credit cards today.
Who Is Eligible?
You may be eligible to receive a payout if:
- You owned or operated a Canadian business between 2001 and 2021
- Your business accepted Visa and/or Mastercard credit card payments
- You paid interchange fees during the eligible period (either directly or via POS providers)
Eligible businesses include:
- Retail stores
- E-commerce websites
- Restaurants and cafés
- Service providers (salons, gyms, etc.)
- Nonprofits and small vendors
How Much Can You Get Paid?
Payment amounts vary based on annual Visa/Mastercard sales during the claim period. There are two claim paths:
1. Simplified Claims (Less Than $5M in Annual Sales)
- Fixed payments based on self-reported figures
- Estimates range from $30 to $600+, depending on total sales
2. Detailed Claims (More Than $5M in Annual Sales)
- Requires submission of detailed transaction data
- Payouts could exceed $10,000 or more for large businesses
All payouts are subject to pro-rata adjustments based on the total number of approved claims.
How to File a Claim
- Go to: www.creditcardsettlements.ca
- Choose Simplified or Detailed claim form
- Enter business info, sales data, and tax details
- Upload any required documents (especially for Detailed claims)
- Submit before September 30, 2025
Once your claim is verified, you’ll be notified by the Settlement Administrator regarding payment.
Key Dates to Remember
| Event | Date |
|---|---|
| Claim Submission Deadline | September 30, 2025 |
| Payment Notification Begins | November 2025 (est.) |
| Payout Disbursement Period | Late 2025 – Early 2026 |
| Final Settlement Fund Closure | Expected by mid-2026 |
Disclaimer
This article is for informational purposes only and does not constitute legal or financial advice. The Visa and Mastercard Class Action Settlement is an ongoing legal process, and eligibility, payment amounts, and procedures are subject to updates from the official Settlement Administrator. For the most accurate and current information, visit the court-authorized website: www.creditcardsettlements.ca or consult a legal advisor.