Online Adult Companies Stand to Benefit From $7.25B Visa/MC Settlement

NEW YORK — Online adult companies will be among those that benefit after Visa, MasterCard and major banks agreed to a $7.25 billion settlement reached today.

The settlement involves 7 million merchants in the U.S. who accept Visa and MasterCard credit cards and debit cards.

Online adult companies are prime plaintiffs, given the volume of credit card purchases.

The nuts and bolts of the class-action suit revolves around the presumption that Visa and MasterCard, along with their member banks, conspired to fix and artificially inflate the interchange fees that merchants pay to accept Visa and  MasterCard branded debit and credit cards. 

Just last spring at The Phoenix Forum, Patrick Jermyn, an attorney with Harrison, N.Y.-based Class Action Refund LLC, was informing attendees of the expected settlement.

"Any company that accepted Visa and MasterCard credit and or debit cards beginning in 2004 will be eligible to participate in the settlement," Jermyn told XBIZ at the time.

That relevant time starts in 2004 and could go as far as 2011, said Jermyn, whose firm is one of many class action recovery firms working on the suit.

The settlement, believed to be the largest ever settlement of a private antitrust case under the Sherman Act, is with payment card networks Visa and MasterCard and with card-issuing banks, including JPMorgan Chase, Bank of America, Citibank, Wells Fargo, Capital One and other major banks.

The case is In re Payment Card Interchange Fee and Merchant Discount Litigation, 05-MD-1720.   

Related:  

Copyright © 2025 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More News

Eye of Love Debuts 'Pheromone Roll-On Duo' From Bloom Line

Eye of Love has introduced the Pheromone Roll-On Duo fragrance set from its Bloom collection.

Full Circle Releases 'Grinders' Collection

Pleasure brand Full Circle has debuted its new Grinders collection of discreet vibrators.

Doc Johnson, Polynesian Pleasures Ink Distro Deal

Pleasure brand Polynesian Pleasures has signed a deal with Doc Johnson for global distribution.

Isa Bella, Selena Ivy Topline 'Lesbian Sex 28'

Isa Bella and Selena Ivy headline the latest release from Girlfriends Films, titled “Lesbian Sex 28.”

Catherine Knight Stars in Latest From Brazzers

Catherine Knight stars in the latest release from Brazzers, titled "GRWM (To Fuck)."

Sydney Screams, Creature Feature Toys & Tailends Studios Launch Limited Partnership

Sydney Screams, Creature Feature Toys, and Tailends Studios have launched a one-month campaign to produce customizable dildos, with some proceeds benefiting SWAID Collective.

Federal Appeals Court Vacates FTC 'Click to Cancel' Rule Pending Review

The U.S. Court of Appeals for the 8th Circuit on Tuesday vacated the Federal Trade Commission’s “click-to-cancel” rule aimed at making it easier for consumers to cancel online subscriptions, pending further review.

Elegant Angel Premieres Nicole Kitt Showcase 'Cats Eye'

Nicole Kitt gets the spotlight in a new four-part showcase release from Elegant Angel.

Sexpo Australia Founder Launches SexEx

Sexpo Australia founder David Ross has launched his new adult lifestyle expo, SexEx.

Private Releases 'The Love Hotel 2'

Private has released “The Love Hotel 2,” directed by Dave Menich.

Show More