Procore Pay is available in the United States. It is designed for General Contractors and Owner-Builders who act as their own General Contractors on a job. Procore Pay extends the Invoice Management functionality in the Procore web application to handle the payment process between general and specialty contractors.
Procore Technologies, Inc., wants you to be comfortable with our our security and reliability and works to help mitigate risks. To ensure a safe and efficient payment experience, Procore Pay incorporates a multi-layered approach to security, encompassing everything from rigorous verification to proactive fraud prevention.
Procore's commitment to Procore Pay security is reflected in the following key measures:
Procore utilizes established financial institutions and industry-leading FinTech companies to conduct thorough business and identity checks against reliable sources, helping ensure compliance with Know Your Business (KYB) is a global economic standard that protects businesses from financial crime. These regulations require companies to confirm the legal existence of a business and its ownership structure. Regulations also require verifying the identities of those authorized to act on the business's behalf. Know Your Customer (KYC) is a global economic standard that protects financial institutions and money service businesses from financial crime. These regulations require payment applications to verify individual identities, validate funding sources as legitimate, and assess risk. and regulations.
Procore's verification providers ensure that bank accounts are open, valid, and match the provided information.
Procore Pay uses data tokenization, a widely used security practice for payment process applications. This helps ensure that sensitive information, such as bank account numbers and tax IDs, never resides on our servers to reduce your data breach risks.
Procore Pay utilizes encryption, firewalls, mandatory Multi-Factor Authentication (MFA), and strong password management to protect your data. Data is stored in secure data centers that are certified to industry standards to maintain compliance and security in the Cloud.
Our partnership with a leading compliance workflow engine provider helps our dedicated team monitor and flag transactions for further investigation.
Procore Pay maintains a fraud monitoring program and is included in the feature design measures in the feature design measures to help reduce the risk of fraud. It also requires Multi-Factor Authentication (MFA) to prevent unauthorized access in the payor environment.
When information cannot be verified automatically, our dedicated Payment Operations team collects additional documentationto expedite manual checks by our verification providers.
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