Russell Simmons' prepaid debit card, RushCard, will be compensating unlucky customers, who were unable to access their money due to technical difficulties earlier this month, by way of a "multi-million dollar" fund.
Customers will be given compensation if they prove that they encountered late fees, lost an apartment deposit or experienced financial impediments caused by the problems with the debit cards, company officials announced on Thursday, according to The Wrap.
"This whole situation has been devastating for them, and we want to make sure they are made whole," Simmons said in an interview with the Associated Press.
RushCard has yet to provide a schedule when the funds will be executed or what conditions or papers are needed in order for customers to be paid.
Technical difficulties during RushCard Mastercard's transition to a new payment processor triggered hundreds of thousands of customers losing access to their funds for as many as ten days earlier this month.
Most of its customers are Americans who generate low income and do not have conventional bank accounts. Some customers went out of their way to tweet Simmons their problems, begging him to give them a way to access their money.
"RushCard and I continue to be completely committed to making sure each and every one of our customers is made whole," the hip-hop mogul said in a statement, according to CNN. "I will continue reaching out individually to as many of you as I can."
