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Payscore

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Editor's note:[edit | edit source]

This page may be taken down, when it was initially suggested

Payscore is a payment management platform founded initially as The Closing Docs by Sephen Arifin and Mark Fiebig in October 2017. Its advertised purpose is to verify the authenticity of renters.

Payscore
Basic information
Founded 2017
Legal structure Private
Industry Payment management
Official website https://www.payscore.com/

Consumer-impact summary[edit | edit source]

User freedom: Often the usage of this service is mandatory for anyone renting or getting a loan.[1]

User privacy: Shares user info solely between consumers and renters as per section 3 of TOS.[2] However because of the mandatory requirement of sharing your bank credentials, the service may be sharing private transactions with landlords,[3][4] which may be sold.

When the company was formerly known as The Closing Docs, they were also selling "anonymized" user data.[5]

Business model: Property managers and lenders pay a fee to use their service to cover verifying rent.

Market control: Some competition, such as from Plaid and Yodlee.

Incidents[edit | edit source]

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This is a list of all consumer-protection incidents this company is involved in. Any incidents not mentioned here can be found in the Payscore category.

Selling user data[edit | edit source]

When the company was formerly known as The Closing Docs, they were selling "anonymized" user data.[5]

Example incident two (date)[edit | edit source]

...

See also[edit | edit source]

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References[edit | edit source]

  1. u/Competitive-Mud-4898 (May 31, 2024). "Property management and income verification". Reddit. Retrieved Mar 22, 2025.{{cite web}}: CS1 maint: numeric names: authors list (link)
  2. Payscore. "Terms of Service". Payscore. Archived from the original on Mar 24, 2025. Retrieved Mar 24, 2025.
  3. u/peachblueberrymuffin (Jun 5, 2023). "Is pay score legit?". Reddit. Retrieved Mar 24, 2025.
  4. u/sividis (Jun 10, 2024). "Apartments now require access to Bank accounts?". Reddit. Retrieved Mar 22, 2025.
  5. 5.0 5.1 u/missile_lily (Jan 10, 2023). "Landlords using service that requests and resells entire financial records". Reddit. Retrieved Mar 22, 2025.