Why Verizon Wireless Customers Are Getting $20 Payouts—As Long as They Remember To Claim Them

Core Insights - Verizon Communications announced a $20 account credit for customers affected by a recent outage, which impacted over 2 million users [2][3][5] - The outage was resolved by 10:15 p.m. ET on Wednesday, but the cause remains undisclosed [3] - Customers will receive a text notification when the credit is available, while business customers will be contacted directly [2][4] Customer Impact - The $20 credit is intended to cover several days of a cell phone plan for affected customers [2] - Verizon has not specified a deadline for customers to redeem the credit [4] - As of the latest quarterly report, Verizon has 146.1 million total retail wireless phone lines connected to its service [5] Industry Context - The recent outage is part of a broader trend of service disruptions among major cloud and software providers, including competitors like AT&T, which also experienced a significant outage earlier this year [6] - Verizon's stock was down 0.7% in early-afternoon trading, with a 2% gain over the past 12 months, underperforming the S&P 500 index, which gained 17% in the same period [7]