This transition wasn't exclusive to us; Visa and Mastercard also reaped benefits as the outdated method of swiping credit cards changed. Retailers had used bulky imprinters to swipe credit cards and mail off carbon copy receipts to get paid.

Over the past three-plus decades, our company has directly experienced the weight of excessive credit and debit card fees, recognizing its substantial impact on operational expenses. This realization and assertions of collusion and anticompetitive price-fixing fueled our determination to advocate for change. It sparked our long-standing social media campaign, years of meetings, regularly flying to NYC and D.C., and as lead plaintiff attending court proceedings to serve as the prominent voice in the litigation—all aimed at raising awareness about this issue that affects most businesses.

In 2005, our advocacy led us to take on the role of a lead plaintiff in the largest antitrust lawsuit, taking on Visa and Mastercard as a pivotal step towards seeking justice for merchants affected by these fees. I am pleased to announce that after years of legal proceedings, a settlement has been reached and duly approved by the court.

The Update: Claim forms to millions of merchants for the $5.5 billion payment card settlement started being mailed yesterday! This claims period marks the final chapter of this arduous legal battle. The groundbreaking $5.5 billion settlement is set to be returned to business owners, a momentous occasion where businesses of all sizes are encouraged to claim their rightful share.

This giant settlement offers substantial relief to larger businesses while providing meaningful benefits to smaller enterprises. In light of recent challenges small businesses faced, including the pandemic, supply chain disruptions, labor shortages, and inflation, every bit of support matters immensely.

To facilitate a straightforward claim process for business owners, efforts have been made to streamline the submission through a simplified procedure, including a barcode for easy scanning. While the magnitude of this settlement is unprecedented, it's important to note that patience will be required due to the involvement of millions of businesses.

For more information about eligibility and assistance in multiple languages, business owners can visit the official website paymentcardsettlement.com. A claims administrator can provide no-cost assistance via a toll-free line or email.

The problem now lies in encouraging millions of merchants to return the claim form, which began distribution yesterday. This marks our next mission—to garner widespread attention and participation in the crucial next step of this process.

Two significant challenges.

This is real money: When trade associates were approached, several needed to understand our intent, mistaking it for a solicitation rather than vital news for their members. Overcoming this misunderstanding will ensure all affected parties receive the necessary information.

Don't be fooled: We've noticed a concerning trend emerging. Entities unrelated to the official claims process, like class action settlement firms, are taking advantage of the process. I even encountered a law firm on TikTok promoting the signing over of claim rights, pledging to manage everything for an undisclosed percentage of the payment—a payment rightfully owed entirely to retailers. We've designed the claim form straightforwardly, including a barcode to expedite the process. Engaging anyone else to complete what you can effortlessly do yourself is hardly necessary.

We implore all merchants to exercise caution and recognize that they can complete the claim process independently without relinquishing their rights and paying unidentifiable fees.

We are excited that millions of retailers, including America’s small businesses, and even those companies no longer in business, may still be eligible for a check.