If your business accepted Visa and/or Mastercard credit cards as payment at any point since March 23, 2001, it could be eligible to receive a portion of a multi-million dollar settlement in a class action lawsuit against Visa and Mastercard for restricting merchants’ ability to surcharge or refuse higher cost (“premium”) credit cards.
To be eligible, your business needs to meet the following criteria:
- The business was a merchant in Canada at any point between March 23, 2001, and September 2, 2021
- The business accepted Visa and/or Mastercard credit cards as payment for goods and services
- The business incurred merchant discount fees, including interchange fees
Applications for rebates are available until September 30th, 2022, by visiting the CFIB’s Credit Card Class Action website.
Once on the website you will need to complete the following information:
- Business Name
- Contact information
- Size of your business / annual revenues during the claim period (can be classified as a small, medium, or large business – see table on the website); please note no documentation will be required for merchants classified as “small businesses”
- Attestation that you collected credit card payments at some point since March 23, 2001
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