Payscore

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Payscore

Basic information
Founded	2017
Legal Structure	Private
Industry	Fintech
Also known as
Official website	https://www.payscore.com/

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.

Consumer-impact summary

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

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

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

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

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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

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

Example incident two (date)

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See also

Link to relevant theme articles or companies with similar incidents.

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