Are we eligible for the 5.5 billion payment card settlement becuase we accepted cards via paypal?

[macman4623]

Ive been getting letters about it. I cant figure out if im eligible or not. Does anyone have more info?

[caldreamer]

The Payment Card Settlement is a record-breaking, $5.5-billion antitrust class-action settlement that returns real money to millions of merchants, from retailers to restaurateurs, after 15 years of paying allegedly inflated Visa and Mastercard interchange fees. The claims period began on Dec. 1 and closes on May 31, 2024.

[aspme]

I would think if you were processing them directly through your bank or a Credit card company then Yes. having Paypal process the transaction I would say No?  did your info that you received have any dollar figures on it?  I had an actuall brick and mortar for 25 years. the info I got actually showed info on my CC sales for the Claim period.   I recieved nothing for my ebay/paypal store.    go to the website and research it ,maybe I'm wrong🤔

[pcobra93]

The only one that "wins" in these lawsuits is the dirtbag lawyers...

[chapeau-noir]

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@pcobra93 wrote:

The only one that "wins" in these lawsuits is the dirtbag lawyers...

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Hey! Hey! Not fair!

I got a whole 63 cents in the last settlement.

[frankenhobbit]

Really don't know a whole lot about this one, but with a lot of these huge settlements, by the time its divided up, it's barely anything on an individual basis. $5.5 billion divided by however many Visa/Mastercard transactions there were over that 15 year period, well, you get it.

I guess you have to ask, how much is your time worth? Not everyone is going to stike it rich like chapeau-noir . 

[lacemaker3]

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@macman4623 wrote:

Are we eligible for the 5.5 billion payment card settlement becuase we accepted cards via paypal?

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I doubt that you would be eligible, because you didn't pay any fees to Visa, you would have paid the PayPal fees instead of any fees to Visa.

[pcobra93]

LOL....I think I got 37 cents once. Cost them more to mail the check so the Post office even made more than me.

[gurlcat]

Several years ago I got $5k from a class action suit against my bank because I just happened to get sick of them rearranging debits to maximize overdraft fees and printed out proof that they did it .... then just happened to contact a local law firm who just happened to be considering pursuing that bank.  They told me to just forget about it for the time being because it would take years even IF they decided to file a suit.  So that's exactly what I did.  Then about two years later, after I'd moved and everything, a forwarded check comes to me out of the blue! 

The crazy thing was, just a few months ago I was thinking about it and realized I had never looked to see if there was news about it at the time.  So I googled it and was shocked to learn the suit was actually called (My last name) vs. (That bank)!!!!  

What I can't figure out is how any other customers got compensated, and how their amounts would be determined.  The way I proved my O/D's were from rearranging software was by printing out my transaction history before and after the software did its' thing, and both were within hours of the transactions.  But hours after that, never mind years ...... ???  The only way I can think of is with receipts but how many customers had those?  And even receipts just show when a transaction occurred, doesn't show that it posted to the bank yet.  

[theteamsetguy]

@gurlcat ,

You got 5k because your were the lead plaintiff for the case. Everyone else probably got $20.00. The attorneys got 33% of the total settlement. 

That's how class action lawsuits usually go. 

[macman4623]

The letters didnt have dollars figures on them, but i may have used paypal virtual terminal a couple times. I probably prpcessed $500k through paypal over the years, so the amount could be a lot. I closed a retail store a year ago and got a check for like $160 that i thought was this lawsuit. Maybe i should try filing again if this is different.

[goldia_com]

Paypal paid those fees from merchants' pockets, Paypal will get paid nicely and they have to forward these payments to individual merchants by law. For practice, this needs a further legal research and effort to pursue.