Steve,

I am certainly not prejudiced against Payquicker. But before I register I am interested to ask a question which I believe to be of interest to many.

Payquicker does require registrants to input their personal information such as our address, phone, birthdate, SSN and driver's license number.

Based on a post from a certain ACE rep, I got the impression that Payquicker is in fact being instrumental for ACE to identify fraudulent shoppers.

Do you by any chance share our personal information, and which should be kept strictly confidential between a client and their trusted bank, with ACE personnel?

According to the payquicker policy, you gave them a blanket permission to do so when you signed up. I like how they give as examples innocent items like name and address:

"You also authorize PayQuicker to share certain non-public information such as your name and address with payers seeking to make payment to you solely for the purpose of verifying your identity and to prevent potential fraud."

For those interested in the similar paypal policy, note the last sentence:
"2.5 Third Party Permissions. If you grant express permission to a third party to take specific actions on your behalf, or access particular information about your Account, either through your use of the third party's product or service or through your Account Profile, you acknowledge that PayPal may disclose the information about your Account that is specifically authorized by you to this third party."

Thanks Kate. That was very helpful. I am surely not signging up with Payquicker nor with ACE.

I'm sure I can't be as clear in my answer to this question as Tiffany or Steve could be, but I will tell you that as far as I know, ACE staff are not privy to your personal information.

I think that this system is in place to prevent shoppers from signing up with ACE/PayQuicker with multiple accounts. One SSN is only good for ONE name/email address. If the name doesn't match the SSN, there's a problem. If the SSN has already been used and verified as someone elses' and another shopper is trying to use it, that's a problem as well. I may not have the clearest understanding of this, though. I am quite sure that PQ is not freely passing out your information to ACE staff or those from other companies. That is part of the whole point of why ACE chose to go with PQ - to keep shopper info AWAY from too many hands/eyes...


I have messaged Steve and asked him to respond to this thread so that a better understanding can be had.

Thanks.

Again? Payquicker is fine. Work for Ace or not, but do not make that decision based on wacky thinking. I get paid from Ace thru payquicker and it is no problemo.

DaytoDay posed an interesting question that has nothing to do with ACE but with the policies of payquicker since accoridng to that company's policies, payquicker decides to whom they will disclose personal, non-public information. It is very disingenuous on behalf of payquicker to site as examples of non-public information the name and address when they provide more important non-public information to ACE, according to ACE, without previously having inform the consumer as required according to federal law. Which only increases the uneasiness with this company. The Gramm Leach-Bliley Act and subsequent acts require "clear disclosure of privacy policies by all financial institutions regarding the sharing of non-public personal information with both affiliates and third parties; Disclosure is required to take place at the time of establishing a customer relationship; not less than annually, thereafter; Establishes consumer opt-out rights."

Hey folks,

I'd be happy to clarify for you. First, the sensitive or personal information provided is exclusivley acquired and maintained by our issuing bank partner, University National Bank in Minnesota. They are as tightly and federally regulated as any finincial institution in the U.S. PayQuicker neither maintains that information or ever handles the monies transacted through our interface ... ever. Our policies and procedures mirror those of our federally regulated banking partners. PayQuicker adheres to a strict policy of account holder confidentialty and does not share account holder information with anyone, unless specifically requested to do so by that account holder.

Yes, an ID Verification is conducted on every account holder as a fraud prevention measure and for the protection of you, us and everyone using PayQuicker. We use the same verification (NOT to be confused with a credit check which indeed we do not do) methods (OFAC & KYC) that all US financial institutions use and we incur the cost to do so (ID Verifications are not free to conduct).

Also, for the sake of perfect clarity, neither PayQuicker nor our banking partner(s) share any protected or confidential account holder information with any other PayQuicker account account (of which ACE is) or any other party.

I hope that's informative and I appreciate any opportunity to clarify speculation on any aspect of PayQuicker's features, functionality amd/or policies.

Thanks!

Steve

Payquicker, as a portal acts as a third party for the issuing bank partner, the University National Bank in Minnesota. So, under what authority payquicker discloses personal, non-public information, with another third party, and what is this information that so innocently mentioned with the use of examples like name and address? Should not payquicker state very clearly the name of the federal regulation or statute under the auspices of which they perform any activity that uses the personal information of the consumer? I am still undecided on whether you are just a group of geeks that operated on a shoestring and still use too simplistic legal language, or something more sinister. However, the banks that you have chosen to handle your passthrough financial transactions, as well as the lack of any public information about payquicker that is not originating from your pr department, or one of the companies that you have a working relationship with, makes me very skeptical about payquicker. Especially at a time that the public is so concerned about fraud and mistrusts towards any company and bank that handle finances, the association with questionable associates really gives concerns about the judgement at the top echelon of payquicker.

Hello Kate,

All accounts acquired through PayQuicker are FDIC insured and federally regulated. I'm not sure how it's concluded that these accounts are any more suceptible to confidentiality breaches than any other bank accounts.

Has your information been compromised? If so I'd like to address that specifically and immediately for you.

Thanks

Steve

You are trying to change the conversation. I never stated that I use or have been harmed by the use of payquicker. To the contrary, I am on record that I chose not to sign up or engage in any transaction with payquicker as I find their operations untrustworthy. The questions are really simple-
Why all information about payquicker originates from payquicker's public relations dept, even after 4 years? Does not association with questionable banks like the Barbodian bank you use for your international transactions worried you since payquicker is a young and unknown compan? The VISA audit adds another badge of distrust, without even going into why you decided to use a Caribbean bank that in general are infamous for less than honest transactions. As a third party company to the US based bank that you use, payquicker is bound by the same federal law. Should not be disclosed explicitely, instead of just stating, oh we will look in nonpublic information like name and address. Excuse me but name and address and social security are oceans away on importance of non-public personal information.Did you, or are you going to disclose information like a driver's licence to ACE? What exactly is the personal non-public info you disclose to third parties, who are these third parties and what authority you use to do it? Paypal is crystal clear on what they do.

"Accounts acquired through PayQuicker are FDIC insured" What exactly is this supposed to mean? I assume and hope you meant that all money transferred through payquicker have FDIC passthrough insurance up to the federally authorized amount.

Edited 1 time(s). Last edit at 05/10/2012 04:16PM by KateH.

Hey KateH,

As I always offer, I'd be happy to discuss all of your questions directly and can be reached at 866-400-2712 x103 to do so. But as it relates to your latest post:

The only bank we now have a relationship with is University National Bank. We simply outgrew our need to work with banks outside of the US and it is a natural part of our growth to enhance our affiliations.

I've answered the question regarding passing along any account related information to any third party. Not sure how else to covey that.

Lastly, I'm also not sure of your confusion on FDIC insurance. Let me try that one again:

PayQuicker is "simply" an application interface that processes requests between account holders and US banks and processors. An account holder is anyone who requests an account through the PayQuicker interface, and is then issued an FDIC insured demand deposit account from University National Bank. Those accounts have their own unique account number and routing number and are all independantly secure and protected by the FDIC. Unlike online payment providers, these are not virtual accounts, there are no pooled or co-mingled funds. Account balances are specifc to the account and protected independantly by FIDC.

Hope that helps :-)

Fascinating that only two weeks ago we had the discussion in this forum about the bank that payquicker utilizes for international transactions and I know that it was there on the website the name of the Caribbean bank that you used because I checked. Right now just that sentence has been removed, without providing information about the bank that handles international transactions since there is only the mention of "University National Bank (“UNB”) within the United States." I am not confused at all about the FDIC insurance. To the contrary, I have used the exact terminology utilized by FDIC, which is more troubling that it can not be found anywhere on the payquicker website, nor you are using that language in your post as a representative of Payquicker. Payquicker does not provide FDIC insurance, but "pass-through" insurance. Payquicker the application may be an application interface but payquicker the company acts as an agent of the individual consumer when they place the money at an unaffiliated FDIC-insured bank, at this instance the University National Bank in Minnesota, which is eligible for pass-through FDIC insurance coverage. They are not the same thing because the amount covered are different. A basic google search of any other interface application finds the information clearly stated on their website, as dictated by the FDIC regulations, but not on payquicker's website.

I do not have to do any personal conversation. This is an issue about financial matters and all fellow shopper are interested to know the policies of companies used by some mystery shopping services providers for payment. I have also realized that we have attracted an audience from other consumers as this site appeared to come at the top when they are searching for information about Payquicker, as they all have similar worries as many of us have expressed on this forum.

KateH,

I guess the conclusion here is that if you are in any way uncomfortable doing business with PayQuicker, or anyone who does, then you shouldn't.

Thousands of people are comfortable with us and no one can please everyone. So sorry that's the case with you. I hope someday we can convince you otherwise.

Take care,

Steve

For the viewing audience, I guess the discussion speaks for itself.

It is not a matter of pleasing anyone but the federally dictated duties of a company, Payquicker at this instance, that acts as an agent with fiduciary duty to trasnfer the consumer's money to the agent. You do not mention anywhere on your website that you are not providing FDIC guaranteed insurance, but only pass-though insurance, nor do you mention the amount of that coverage. Your disclosure policy to a third party as it relates to payquicker, not as it regards the bank and its fedral obligations, is not clear or under what authority it is derived. A simple search of any institution or company working with financial instruments go in detail about the federal regulations and statutes under which they operate.

Edited 2 time(s). Last edit at 05/10/2012 06:57PM by KateH.

Steve,
Thanks for posting.
It is the custom on this forum that any person representing a mystery shopping, scheduling or facilitating company (such as your) us a permanent sig line to identify every post as representing the company. I regret that now one had picked up on this and reminded you before this. It took me a while to realize that you were representing a company here. When stating company policy, it is especially important to provide the ID in your sig line.

I'm personally always pleased to see company reps on this forum, as are most who read here.
Again, thanks for posting.

I could have sworn this request was also made several months ago. Thanks for the reminder to all walesmaven

Walesmaven,

My apologies and thanks for the clarification. Sorry for not properly adding my signature. I will be sure to do so in the future. I think KateH understood that I was with PayQuicker but I'll be more careful in the future

Much appreciated!

Steve
Steve Manetta, VP Business Development
PayQuicker, LLC

The sig lines just guarantee that shoppers can differentiate between a MSC, a vendor such as yourself and another shopper since each will have different perspectives, opinions and agendas. While KateH understood, this thread could be read by many members looking for information on your service.

Makes perfect sense.

Understood

Steve
Steve Manetta, VP Business Development
PayQuicker, LLC

Steve,
You can add a permanent sig line in your profile. That way, no need to remember next time, and it will update your existing posts to the preferred form.

Ahhhhh, ok. I have now done so. (Still familiarizing myself with the interface)

Thank you!

So are a lot of us!