Class action lawsuits were commenced in British Columbia (the “BC Action”), Alberta, Saskatchewan, Quebec (the “QC Action”) and Ontario (collectively, the “Credit Card Class Actions”) against Visa Canada Corporation (“Visa”), Mastercard International Incorporated (“Mastercard”) and certain banks which issue credit cards (“Issuing Banks”) alleging each of Visa and Mastercard conspired with their Issuing Banks and acquirers in setting the amount of interchange fees and imposing rules restricting merchants’ ability to surcharge or refuse higher cost Visa and Mastercard credit cards. The BC Action and the QC Action were certified/authorized as class proceedings.
The claims deadline for merchants to submit a claim has now passed. The deadline was December 30, 2022 and the portal is now inactive.
Please check https://www.creditcardsettlements.ca/ for regular updates on the expected timing of the payments.
If you have any questions, please email [email protected] or call Epiq Class Action Services Canada Inc., the claims administrator toll-free at 1-877-283-6548.
Settlements totalling $131 million in net compensation were reached with Visa, Mastercard, Bank of America, Citigroup, Capital One, Desjardins, National Bank, CIBC, Royal Bank, BMO, TD and Bank of Nova Scotia. The settled defendants do not admit any wrongdoing or liability. The BC, Alberta, Saskatchewan, Ontario and Québec courts approved the settlements for distribution in Credit Card Interchange Fees Class Action.
Any merchants who accepted Visa or Mastercard credit cards in Canada between March 23, 2001 and September 2, 2021 are eligible to claim settlement benefits before the December 30, 2022 deadline by making a claim.
Claims by small merchants with annual average revenue of less than $5 million do not require supporting documents. Subject to further court order, undocumented claims will be paid $30 for each year the merchant accepted credit cards from 2001 to 2021. There is also an opportunity for merchants with annual average revenue of $5 million or more to make claims with specified documentation. Claims can be filed online at https://www.creditcardsettlements.ca on or before December 30, 2022.
For more details on how to make a claim, please review the Long Form Notice re Claims Process under Important Documents below, or visit the official website at www.CreditCardSettlements.ca.
For more information please contact Sharon Wong, Paralegal at (604) 689-7555 or by email at [email protected]. We also encourage you to go to the official website for this Credit Card Class Action at creditcardsettlements.ca.
Visa / Mastercard - View
Credit Card Class Action: Updated Distribution Plan - View
Credit Card Actions Certified for Settlement - View
Visa Mastercard June 26, 2020 - View
Visa / Mastercard – Application to Approve Settlements with National Bank, Visa and Mastercard - View
Entered Alberta Order re Adjournment of Settlement Approval (Visa, Mastercard and National Bank) - View
Visa / Mastercard – National Bank Settlement Approval Hearings - View
Visa / Mastercard Class Action – Settlement Approval Hearing - View
Visa / Mastercard – Desjardins Settlement - View
BC Court of Appeal Reasons – August 19, 2015 - View
Visa / Mastercard – Certification of BC Action - View
Visa / Mastercard – Public Reasons for Judgment released March 27, 2014 - View
Visa / Mastercard - View