The settlement is higher than originally projected! Visa and MasterCard have agreed to a $7.25 billion settlement.

The settlement is higher than originally projected! Visa and MasterCard have agreed to a $7.25 billion settlement.

Please read the below and contact my friend Marc. He will file a placeholder claim, which will reserve your company a spot in the settlement, while working with the claims administrator to maximize your total refund. There are no upfront fees and no compensation due unless your claim is funded.

This letter is to notify you that your company is eligible for a refund in the Payment Card Interchange Fee Settlement. If your organization accepted Visa and/or MasterCard Credit and/or Debit Cards in the United States at any time from and after January 1, 2004, you are entitled to monetary compensation. Your company would be compensated based on your processed credit card transactions. The projected settlement payout is now over $7 billion.

Settlement Recovery Group is a leading class action claims filing service, to prepare and submit claims on behalf of our members in the Visa/MasterCard Interchange Fee Settlement. Settlement Recovery Group has agreed to provide its services to our clients at a reduced contingency fee of recovered settlement funds. There are no up-front costs. If Settlement Recovery Group is unable to recover funds on your behalf, then it does not get compensated for its efforts.

Below is a brief description of the class action settlement:

Plaintiffs allege that, between January 1, 2004 and the present, Defendants Visa, MasterCard and several banks including Bank of America, JPMorgan Chase and Citigroup conspired to artificially inflate the prices of interchange fees that merchants’ acquiring banks pay to customers’ issuing banks in a credit or debit card transaction. Since the interchange fees are inflated, the discount fees merchants pay to accept card payments are in turn artificially high, and various rules prevent merchants from challenging the inflated fees.

If you have any questions regarding the settlement or would like to file a claim, please contact our representatives at Settlement Recovery Group for more information:

Marc Rosenberg

Settlement Recovery Group, LLC
199 Water Street, 26th Floor, New York NY 10038-3560
T 1 212 805 7210 C 1 917 957 2082 F 1 866 519 2861
Marc.Rosenberg@srgllc.com
www.srgllc.com/

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Tips to avoid Fraud

Last week I composed a fraud presentation for the NATB trade show. While the show was for ticketbrokers the advice is useful for all merchants.

Go to https://docs.google.com/file/d/0B3cM3ZFsgbnNWUFiS1ZwM0drMEE/edit

and click the “download” field for my PowerPoint presentation.