Summary
- Equifax has acquired PayNet for an undisclosed sum.
- PayNet provides improved data for leasing and commercial lending firms to base their underwriting decisions on.
- EFX is carefully expanding its data sources to help customers make better and more profitable credit decisions based on larger and more comprehensive data sets.
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Quick Take
Equifax (EFX) has acquired PayNet for an undisclosed amount.
PayNet has developed a commercial lending database and related service for commercial leasing and lending firms to the SMB market.
EFX is gaining a proprietary, alternative data provider as it seeks to differentiate itself beyond commodified, legacy, credit data into a broader set of credit signals for its customers.
