Payscore
Contents6
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| 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.[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
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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.[5]
Example incident two (date)
...
See also
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References
- ↑ u/Competitive-Mud-4898 (May 31, 2024). "Property management and income verification". Reddit. Archived from the original on 4 Apr 2025. Retrieved Mar 22, 2025.
{{cite web}}: CS1 maint: numeric names: authors list (link) - ↑ Payscore. "Terms of Service". Payscore. Archived from the original on 11 Dec 2025. Retrieved Mar 24, 2025.
- ↑ u/peachblueberrymuffin (Jun 5, 2023). "Is pay score legit?". Reddit. Archived from the original on 3 Apr 2025. Retrieved Mar 24, 2025.
- ↑ u/sividis (Jun 10, 2024). "Apartments now require access to Bank accounts?". Reddit. Archived from the original on 4 Apr 2025. Retrieved Mar 22, 2025.
- ↑ 5.0 5.1 u/missile_lily (Jan 10, 2023). "Landlords using service that requests and resells entire financial records". Reddit. Archived from the original on 3 Apr 2025. Retrieved Mar 22, 2025.