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Tag Archive: Compliance

February 27, 2019

Why Do Credit Card Processors Ask for Your Social Security Number?

With identify theft on the rise, people are guarding their Social Security Numbers and personal information more closely than ever. Being asked to provide a Social Security Number raises a red flag and certainly a fear of how the Social Security Number might be used and how it will be protected. While processing the applications of hundreds of new merchants in any given month, Chosen Payments routinely asks new merchants to provide their Social Security Number and their home address. While we certainly understand the reluctance of people who don’t want to provide this very personal information, the request is...Read more