However, you should only use these services when you are paying someone you know. These services make sending funds just as easy as paying with cash. Payment services, like Venmo, Zelle, Apple Pay, Cash App, and Facebook P2P Payments in Messenger, are a virtual imitation of paying or receiving cash. Online services and apps that allow you to easily send and receive money are a fast-growing trend. These payment services allow the transfer of funds between two parties using their individual financial institution accounts or debit cards through an online or mobile app.
You have until April 28, 2022, to submit a claim.Peer-to-peer payments, also known as P2P payments, are transactions that can be used for anything from splitting a $30 dinner bill between friends to paying your rent. You can check to see if you are eligible and file a claim on Plaid's settlement website. Don't expect to receive too much money, though, because Plaid is used by over 5,500 apps with over 98 million users. If you logged into any app that uses Plaid between January 1, 2013, and November 19, 2021, you could be eligible for a part of the settlement. As Plaid has evolved from backend infrastructure for developers to also providing front-end solutions, we have become an industry leader in consumer privacy practices. "We help consumers safely connect their financial accounts to the apps and services they rely on. "The claims raised in the lawsuit do not reflect our practices," a Plaid spokesperson told CNET.
Plaid did not have to admit any wrongdoing as part of the settlement. That company was hit with a class-action lawsuit accusing it of collecting "more financial data than was needed" from customers.
To link your bank account to the payment apps, a company called Plaid acted as a middle man, allowing you to log in using your online banking credentials. If you use an online payment or financial app such as Venmo, American Express, Robinhood, Coinbase, Chime, or Credit Karma, you may be entitled to a portion of a $58 million settlement. The Hartford Small Business Stimulus Contest.On Mic: Jordan Rich Late Night Classics.Everyday Wealth with Soledad O’Brian and Jean Chatzky.
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