![]() Thus, all we know is that information consumers had entrusted to the company was compromised after an unauthorized party-most likely a hacker-bypassed the company’s data security system. ![]() However, the information provided on the Texas AG’s website is very limited, and the company has not yet posted a notice of the recent incident on its website. The available information regarding the Snap Finance breach comes from the company’s filing with the Attorney General of Texas. What We Know About the Snap Finance Data Breach However, it is important to understand that as a data breach victim, you have rights, including the right to pursue a legal claim against Snap Finance and Snap RTO company if it turns out that the company was negligent in how it handled your information. And as we’ve discussed in other posts, as a result of the data breach, you are now at an increased risk of identity theft and other frauds. If you applied for or received a loan or line of credit through Snap Finance or leased-to-own through Snap RTO, the information you provided to the company may now be in the hands of potential criminals. Recently, Snap sent out data breach letters to all affected parties, informing them of the incident and what they can do to protect themselves from identity theft and other frauds. According to Snap, the breach resulted in consumers’ names, addresses, Social Security numbers, government-issued identification numbers and financial account information being compromised. Once lease application is approved and signed, shoppers will be taken back to the merchant checkout page to complete their purchase.On December 5, 2022, Snap Finance, LLC and Snap RTO, LLC reported a data breach with the Texas Attorney General after the company learned that an unauthorized party was able to access confidential information that was stored on its computer network. When shoppers select Snap Finance as their financing source, they will be guided through a separate web experience hosted by Snap Finance using a popup modal, where they will go through an application process to get approved for a lease by Snap Finance to finance their purchase. The Snap Finance Checkout extension will be added as a payment type on your checkout page, allowing authorization and capture to be processed through Magento. No PCI data will be transmitted between Magento Merchants and Snap Finance. Snap takes on the full responsibility of servicing the customer’s lease and mitigating fraud.Snap offers a 100-Day Payoff option that allows a shopper to pay off their lease in 100 days, paying a small processing fee in addition to their cost of goods.Snap merchants rated their experience with an average NPS of 84.Merchants who use Snap see an approval rate of up to 80%.In 2019, Snap helped drive over $890M in sales for our merchants. ![]()
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