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Frequently Asked Questions (FAQ)
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Do I have to contribute data to access the database?
Yes. To access the data you must contribute historical data and monthly updates of the data. This ensures that every member has the most data available on which to base a credit decision.
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Can I see a list of other PayNet members?
Anonymity is another guiding principle of the network; members can be assured that their data is commingled with other members’ data, making it impossible for anyone to create a marketing list or determine the rates for the deals.
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Will my data be used for Marketing lists?
No. As is clearly spelled out in the Member Agreement, no member is allowed to attempt to "mine" the database. In addition, PayNet has put controls in place that will lock out users attempting to download any "bulk" data.
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Does any other finance company have ownership in PayNet?
PayNet is not, and will not be, owned by any company that could influence the tenets on which PayNet was formed.
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How does PayNet ensure that a member's data remains under the member's control?
Data ownership is a cornerstone of the network that has allowed PayNet to grow the membership quickly. In the unlikely event that membership no longer proves advantageous, PayNet will remove access to the former member’s individual records but will retain for its other members the right to use reports and analytics already received from PayNet.
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