What the Visa/MasterCard Lawsuit Tells You About Merchant Services Fees

In the merchant services and credit card industries, occasionally you’ll see class action lawsuits pop up concerning what are commonly termed “unfair practices.” One significant one last year, for instance, was an anti-trust settlement between Visa, MasterCard and millions of retailers that made accusations of improperly fixing credit and debit card fees.

The details of the settlement are not as important—it was struck down last June after 8,000 retailers opted out, and Reuters called that a “major blow to the credit card industry,” and litigation is ongoing. What is important is the details of the case: thousands of retailers accused Visa and MasterCard of, in effect, colluding to raise interchange rates while making it seem as if they didn’t collude.

While many often feel that merchant services fees are frustratingly high, they assume that there isn’t anything technically wrong with them. We believe this lawsuit shows a general principle that you should work hard to fight back against merchant services bills. We had nothing to do with this lawsuit, of course—we are not a law firm. But we are eager to help you lower you merchant services fees with contingency-based audits that cost you nothing unless we save you money.

These types of practices, generally, are exactly the types of practices that we are constantly on watch for. We’re advocates for merchants. We sit on your side fo the table to be sure that if Visa increases a fee, the cost is passed on to the merchant with no other surcharges for the processor’s bottom line profit.

If a processor tries to sneak in a fee – or, even purely accidentally, charges you incorrectly – we will find that for you, and we will fight on your behalf to correct it. Businesses have little idea how much they are often being charged unnecessarily in extra or incorrect fees, because banks and processors successfully make merchant statements very confusing.

We believe there’s a reason for that—they’re trying to hide things from you.

With our years of experience in the industry and working to audit and minimize merchant services bills, we’ve seen everything there is to see. We know what charges are real and necessary, and which are unnecessary—and where they hide their extra fees.

Contact us for a free, contingency-based audit. It costs you nothing. If you decide to use us and we save you money, we only take a percentage of your savings.