Why do I have to give any personal data when registering?

We are required to ask certain questions and need certain information in order to process payments to you.

When you register as a LaterPay Merchant, federal banking regulations (including the “Know your Customer”) require LaterPay to ask certain questions, such as your physical address. These regulations are designed to prevent fraudulent accounts from money laundering.

When you register as a LaterPay User, we ask only for information that will allow us to process your payment transaction securely.