Canadian Credit Card Class Actions

If your business accepted payments via VISA and Mastercard between March 23, 2001 and September 2, 2021, you may be eligible to receive money from class actions settlements.

A group called Credit Card Actions alleged in a class action lawsuit that Visa and Mastercard conspired with various Canadian banks to set the amount of interchange fees and impose rules that restrict merchants’ ability to surcharge or refuse higher cost Visa and Mastercard credit cards. In response, these Canadian banks have agreed to settle the class action lawsuit, whilst not admitting any guilt, for a total of $188,000,000. As a result, your business may be entitled to a small portion of the settlement amount.


Who is eligible to receive settlement money?


The court-approved definition of “Settlement Class Member” sets out who can share in the Settlement. You are a Settlement Class Member if you accept or accepted Visa credit cards and/or Mastercard credit cards as payment for goods or services and incurred merchant discount fees, including interchange fees, in Canada between March 23, 2001 and September 2, 2021.


How much money might I receive?


The claim amount will vary depending on whether your business is considered a small merchant, a medium merchant, or a large merchant. The claim amount will also vary based on how many years you accepted payments via Visa and/or Mastercard credit cards. Below is a table that depicts the per year claim amounts by type of merchant.


* Average annual revenue over the class period in Canadian dollars.
** Priced in Canadian dollars.


The Claim Option Process


As illustrated in the table above, there are three claim options.

  1. Small Merchants may file undocumented claims that do not require any supporting documents.
  2. Medium Merchants may file simplified claims that require proof of at least one agreement entered with an acquirer or payment processor.
  3. Large Merchants have two options for filing a claim:
    • They may file simplified claims that require proof of at least one agreement entered with an acquirer or payment processor similar to the Medium Merchants.
    • To be eligible to receive more than $250 per year, Large Merchants may file documented claims that require documents showing credit card sales volume or payment of interchange fees.


When and how to apply?


In order to participate in the Settlement, a Class Member must submit a claim no later than September 30, 2022.  Click here for more information on how to submit a claim and here to start the claim process.