Amazon refunding $70M for charges by children

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After appeals by both sides, Amazon and the FTC chose to end the litigation. Likewise, the move to refund the money has finally brought closure to the three-year judicial proceedings that address parents' complaints. Amazon has since then changed the in-app purchase interface and added more parental controls, while also giving refunds to some consumers who complained. Now the FTC has announced that Amazon is starting to offer refunds for these purchases.

To prove their claim, a parent shared that her child was able to purchase items worth $358 and she was unaware of these charges.

Under the terms of the settlement, Amazon is making more than $70 million in refunds available to customers who were charged for unauthorized in-app purchases made by a child.

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The FTC and Amazon then made a decision to settle, which allowed the refund process to begin. Apple settled a case with the agency in 2014 over unauthorized in-app transactions made by children. (NASDAQ:AMZN)'s Refund Of More Than $70 Million For Purchase Unauthorized Apps appeared first on Market Exclusive. Both firms no longer call apps "free" when they are free to download but have upgrades you can buy.

The process should be straightforward and will just involve logging into their account and from the message center, they can find out about their eligibility. Affected users have a full year to file a request with the company.

If you've been waiting patiently for a refund from Amazon for in-app purchases your kids made without your permission, your time has come. Only four other US -listed companies have shares that trade above $1,000.