Everything about your financial history is “scraped” from the walls of your private bank or credit card provider and sent into the most cutting edge, sophisticated aggregations. FinTech and payments companies then create a profile from analyzing the transactor, the merchant then determines the value, and off to the highest bidders it goes. This information can include a credit score estimations, a timeline of spending habits, hours which the person is most likely to checkout online, the places they frequent
Plain and simple, this doesn’t match what many of us would expect from a company we entrust our transacting with.
Stand Payments has built first-hand direct-to-bank relationships around the world (even as far as partnering with an international bank). We have negotiated various payment underwriting services for our vendors and merchants—tailored to their business models—and negotiated with processing gateways who share our vision. This is a mighty feat, as none of us can get away from gateways and their model to sell data.