Credit Score Checks for Business Compliance

Direct answer

VerifyNow is not a credit bureau and does not provide credit information, credit scores, credit reports, affordability assessments or loan decisions. A business needing credit information must obtain it through a registered credit bureau and the authorised credit process.

Credit-information boundary

Consumer credit information is governed by the National Credit Act and the registered credit-bureau framework. A requester must use the consent, authorisation and purpose required for the intended decision. VerifyNow should not be described as a bureau intermediary, score presenter or instant credit-report source.

The National Credit Regulator publishes the official register and consumer-credit guidance.

Record the workflow clearly

Keep the bureau result, identity result, affordability assessment and loan decision under separate source labels and timestamps. A successful identity check does not approve credit. A declined application does not invalidate an identity match.

POPIA

Collect credit and identity information for a defined lawful purpose, provide the required notice, limit access and retain it only for an authorised period. Official privacy guidance is available from the Information Regulator.