I received this email from shopify about the visa Mastercard settlement. Has anyone else? I don’t want to click the link just incase
Topic summary
Shopify merchants received emails about a Visa/Mastercard settlement for transactions processed between January 1, 2004 and January 25, 2019. Shopify staff confirmed the emails are legitimate and directed users to an official blog post.
Key Issue: Merchants using Shopify Payments are encountering a major problem—their claims show $0 in interchange fees despite processing significant transaction volumes (some in the millions). This occurs because Shopify processed payments on their behalf rather than merchants having direct relationships with Visa/Mastercard.
Information Gap: To file proper claims, the settlement administrator requires:
- Merchant Services Processor Number
- Merchant Services Sample Statements
- Store Name/Number as it appears on customer statements
- Processor Name (possibly Stripe, which powers Shopify Payments)
Merchants cannot locate this information in their Shopify admin and are frustrated that Shopify staff repeatedly state they’re “not the facilitator” without providing the necessary merchant account details.
Current Status: The deadline was extended to February. One merchant reported success after filing an “additional research request” with all available data, which uncovered significantly more qualifying fees. However, most participants remain stuck without Shopify’s cooperation in providing processor identification numbers and merchant statements.
Watching, as I got the same one but am also suspicious…
Hey, @Boudreauxb & @Chrisjigsaw !
I’m reaching out to confirm that the email you have received is legitimate!
You can also find some more information about this Visa and MasterCard settlement in our Blog Post here at the link.
Let me know if you have any questions!
I received it also…also hesitant!
Waiting for Shopify staff Maz to inform us.
Great - I will wait to hear back from you. Thank you!
I received the same email. the link does take you to the correct claim site. The question is, are the transactions on shopify also eligible for this claim. We process cards at our physical shop that do not go through shopify, I know I can claim those because I processed them. Do the transactions that customers make on the webstore (shopify) qualify to be claimed?
Hey, @Boudreauxb
All merchants in the United States, who accepted Visa and/or Mastercard transactions between Jan 1, 2004 and Jan 25, 2019, should be eligible to file a claim for any transactions made.
I hope this helps!
Shopify accepted the payment and processed on my behalf and I paid shopify fees no fee directly to Visa or MasterCard. So per you above statement I CAN claim those transactions as well. That would be a HUGE blessing if it is accurate. Just want to be sure.
Hey, @TCFERREE
That is correct! With that said, Shopify is not a facilitator of this claim. If you have any questions or concerns, please reach out to the claim administrator directly at 1-800-625-6440 or info@PaymentCardSettlement.com.
Hi Maz, will Shopify or the company handling the settlement be mailing us information with the claimant details on it? This is the first we’ve heard of this. We haven’t received anything yet and the deadline is coming up quickly. Thanks for your help!
Unfortunately, the blog post doesn’t answer the only two relevant questions every Shopify merchant is likely to ask: do sales made using Shopify Payments count towards the settlement, and if so how do we gather the data from Shopify? I filed a claim and it shows almost nothing, despite having made hundreds of thousands of sales via MC/Visa in that time frame.
Because Shopify is not the facilitator of this claim we can’t speak to individual order eligibility. But the information we have been provided is that all merchants in the United States, who accepted Visa and/or Mastercard transactions between Jan 1, 2004 and Jan 25, 2019, should be eligible to file a claim. I am not sure if the gateway used to accept that payment affects the eligibility of this claim. Contacting the email address or phone number provided will be your best course of action.
If you are looking for transaction history and transaction fees for Shopify Payments transactions you can find that in your admin under Finances > Payouts. You can export your payout data as well.
My question is, is this all based off of your Taxpayer ID number? I had two shopify shops (under one taxpayer ID) and I have since closed one of those shopify accounts and no longer have access that the information. So if we are required to submit transaction information, what do we do for closed accounts? Will we be required to submit sales information or does Mastercard/Visa search by TIN number for all transactions?
Hi there!
I didn’t receive a statement in the mail, so I enrolled on the site. After enrolling with the instructions Shopify provided, my interchange fee is showing as $0. I had six figures of revenue in the settlement period. I wrote to the claims administrator, and they told me that they would have to do a research request. In order to do that, I need merchant processing statements from Shopify. Here’s what they’re asking for:
-
Merchant Services Sample Statements
-
Merchant Services Processor Merchant Number
-
Store Name/Store Number
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Merchant Services Processor Name
I can’t locate any of this information in the Shopify admin. Can you advise on how I can obtain this info? Thank you.
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I hope you have better luck getting this than I - Shopify has been no help thus far, referring me to the administrator. They are no help at all and read from a script. I submitted an additional research request with as much data as I could, but have not heard back. I’ve been trying to get the Merchant Services Processor number from Shopify and they’ve been no help at all.
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Just so that you are aware, the claims administrator is no help at all. They read from a script. All one can do is ask for additional research, which I have done (it’s pending) but Shopify has thus far been no help in providing any information that request requires, such as their Merchant Services Processor number.
I understand that Shopify can’t do anything in the claims process, but it’s disappointing that they do not seem willing or able to provide what assistance they can to companies on the Shopify platform that are trying to file claims. My company has processed millions of dollars in transactions through Shopify Payments, to say nothing of the money we spent for years on the Plus platform, and I’d have thought that would at least earn us the good will of getting as much assistance as possible in filing a claim. Multiply my spend with Shopify times the millions of other vendors and it’s not insubstantial.
And the thing is, this isn’t even a request that needs to be done on a per/vendor level. Finding out the processing number and name is a one and done prospect. There MUST be more information that can be used to identify these transactions.
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Could you confirm if the statement below is correct and STRIPE is used to process the credit card transactions for Shopify. If that is a true statement then who do we contact at Stripe to get the information we need to claim this? Time is ticking and only 7 days to get this information and get it posted.
Shopify Payments, Shopify’s default payment gateway, uses Stripe as its credit card processor. Stripe is a global leader in online payments and deals with the processing fee, payment method, and credit card transaction fees. Shopify Payments integrates with the Shopify dashboard for online payments and allows businesses to process mobile and card payments in 130 currencies. Shopify Payments also offers physical point of sale (POS) solutions that allow clients to accept credit card and debit card payments in person.
Shopify Payments’ processing rates range from 2.5% plus 30 cents to 2.9% plus 30 cents, but rates decrease on higher-priced subscriptions. Shopify Payments also allows merchants to accept installment payments and track orders and payments in one place.
They’ve extended the deadline to February, I believe. I still doubt we’ll get support even by then, if the past is any indication at all.
The claims administrator can’t help with this question and they just read from a script referring us back to the merchant processor. Is that shopify, or Stripe? Please provide the merchant processor number or some information that we can submit to the claims administrator so they can find our information. We have been with Shopify for years and processed millions of dollars of transactions through Shopify. I would really appreciate it if you can provide the info that your customers are asking for.
We understand Shopify is not a facilitator of the claim, but you’re not providing us the details we need to process our claims. My EIN shows $0 in Interchange Fees because all the transactions were processed by Shopify. To move forward the claims administrators must do a research request. To do that they need the need merchant processing statements from Shopify - as the processor you will be required to provide us these documents:
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