Getty Images to issue a refund for charging extra to customers, Australia watchdog says
Adds details from paragraph 2 onwards
Nov 1 (Reuters) -Australia's competition watchdog said on Friday Getty Images GETY.N has committed to issue an A$78,000 ($51,316.20) refund to more than 200 customers who were allegedly charged greater-than-disclosed amounts for cancelling their iStock subscriptions.
The Australian Competition & Consumer Commission (ACCC) said it was concerned that the online stock photography company misled its customers by claiming that cancelling an iStock subscription after a one-month trial would incur only an administrative fee, when the actual charge was half the remaining annual subscription cost.
The ACCC also identified concerns about iStock's website, which listed monthly prices for annual subscriptions without disclosing the total cost, potentially confusing consumers about the subscription terms.
"Businesses must clearly and accurately state the total price and key terms and conditions, such as the length of the subscription and cancellation terms, from the outset when selling subscription-based products," ACCC Commissioner Liza Carver said.
Getty Images has amended its pricing pages and it now notifies customers prior to the end of their free trial, the ACCC said.
"Getty Images was responsive to customer feedback and to the ACCC's concerns in agreeing to provide refunds to its customers and amend its iStock website, so the ACCC does not propose to take further enforcement action," Carver said.
"Getty Images worked actively with the ACCC to address concerns related to our iStock Free Trial program and are actively working to refund impacted customers," a Getty Images spokesperson said.
($1 = 1.5200 Australian dollars)
Reporting by Echha Jain in Bengaluru; additional reporting by Shivangi Lahiri in Bengaluru; editing by Alan Barona
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
