A financial instrument issued as a result of a legal resolution pertaining to Instagram and the Biometric Information Privacy Act (BIPA), enables individuals involved in the settlement to access their awarded funds. It functions as a standard payment card, drawing value from a pre-funded account rather than a line of credit. Recipients can utilize it for purchases at merchants that accept Mastercard, both online and in physical locations, up to the card’s available balance.
The provision of this type of disbursement method offers convenience and immediate access to settlement proceeds. Its use can streamline the payout process compared to traditional check distribution. It also provides a secure and trackable means of receiving funds, reducing the risk associated with lost or stolen checks. This approach ensures that beneficiaries can readily manage and utilize their compensation.
