How Are Payouts Calculated and Distributed?
More than 690,000 merchants have received payments from a $5.5 billion antitrust settlement between Visa, Mastercard, and U. S. retailers, with total disbursements now exceeding $631 million. The funds stem from a 2018 agreement resolving claims that the card networks illegally fixed swipe fees charged to businesses. The latest update, released in October 2026, shows the claims process is nearing completion as eligible merchants continue to collect their share.
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What Happens to Unclaimed Funds?
Payout amounts are determined using a formula that weighs each merchant’s eligible transaction volume against the total pool of claims. The settlement fund allocates money based on the number of Visa and Mastercard transactions processed during the eligibility period, adjusted for risk and verification factors. Merchants received notifications via email or mail with instructions to validate their information through a secure portal. Once verified, payments were issued via direct deposit or check, with most funds distributed within 60 to 90 days of approval. The administrator has emphasized transparency, publishing regular updates on its website to track progress and address delays.
Any remaining balance in the settlement fund after all valid claims are paid will be distributed proportionally among merchants who already received payments. This „second distribution” ensures that the full $5.5 billion is ultimately returned to the merchant class, minimizing leftover amounts. Claims administrators note that fewer than 5% of eligible merchants have yet to file, often due to outdated contact information or lack of awareness. Outreach efforts continue through trade associations and email campaigns to reach these businesses before the final deadline. Unclaimed funds will not revert to Visa or Mastercard under the terms of the agreement.
Who qualifies for a payment from the Visa-Mastercard settlement? Merchants that accepted Visa or Mastercard credit or debit cards for transactions between January 1, 2004, and December 31, 2019, are eligible to file a claim, regardless of size or industry.
Frequently Asked Questions
How can a merchant check if they are owed money? Eligible merchants can visit the official settlement website and enter their business tax ID or merchant number to verify eligibility and view their estimated payout amount.
Is there still time to file a claim? Yes, the claims deadline remains open, though merchants are encouraged to submit documentation soon to ensure inclusion in the next payment batch. Late filings may still be accepted if valid justification is provided.
