Equifax Data Breach and SolidTrust Pay

Credit-monitoring company Equifax Inc. suffered a security breach that could affect up to 143 million people in the United States, as well as expose the “limited personal information” of an undisclosed number of Canadian and British Equifax users.

Equifax did not indicate the number of Canadians/British that could be affected or how, and Equifax Canada spokesperson Tom Carroll said the company is not providing any further information on the impact of the hack in Canada.

Based in Atlanta, Equifax is one of three major credit bureaus in the United States. Between May and July of this year, the company stated that cyber-attackers exploited a U.S. website application to access files which contained the personal information sought by the hackers.

“On a scale of 1 to 10, this is a 10 in terms of potential identity theft,” said Gartner security analyst Avivah Litan. “Credit bureaus keep so much data about us that affects almost everything we do.”

Names, addresses, birthdates, social security numbers and drivers license numbers were all among the information obtained. Equifax said its core credit-reporting databases don’t appear to have been breached.

“This is clearly a disappointing event for our company, and one that strikes at the heart of who we are and what we do,” Equifax CEO Richard Smith said in a statement. “I apologize to consumers and our business customers for the concern and frustration this causes.”

For more information, and to find out if you have been personally affected, you can use the website www.equifaxsecurity2017.com, which has been set up by Equifax. The website allows users to verify if their information was potentially affected, and helps them sign up for the free credit-file monitoring and identify-theft protection offered by Equifax in light of the breach.

NOTE: Some people are furious about the site’s functionality, and it includes an arbitration clause, which means that people who use the site waive their rights to a class-action lawsuit.

While SolidTrust Pay was not affected by the attack, events such as these serve as a reminder to always employ best security practices. We suggest that users update passwords and use a password manager, delete old accounts with personal information if you are no longer using them, and follow our 10 steps for better internet safety!


International Day of Family Remittances – STPay RESULTS!

This past Friday, June 16, 2017, SolidTrust Pay is proud to announce that we joined 90 other leading payment processors and online money transfer operators in recognizing the International Day of Family Remittances (IDFR) and signing the IMTC pledge to work together to enhance innovative financial technology, provide greater efficiency and lower costs for a more accessible financial sector to all.

We chose to show our support by making all member-to-member transactions completely free on that day! Below are the results, which we’ve decided to share publicly to inspire and encourage others in our industry to act.

On June 16, 2017, $10,116.62 was sent through SolidTrust Pay in a total of 122 transfers to/from 39 different countries without paying a single cent in fees! The majority of the transfers were made from the UK, Canada, the US, Pakistan and Japan and among the top receiving countries were Serbia and Singapore.

We’re pleased with the results of our first participation event in the IDFR, and we look forward to making an even bigger contribution next year!


Free Member-to-Member Transactions on June 16 | International Day of Family Remittances

SolidTrust Pay plays an integral role in the global money transfer and fin-tech industries. Many of our members use our services to conduct business around the world because we offer some of the best rates and services online. But many of our users also use our services to transfer monies to their families back home — these are called remittances.

On June 16th, we are proud to announce we will be showing our support for the International Day of Family Remittances, as well as our dedication to improving both the lives of our users and the many different countries from which they come.

For a full 24 hours, from 9:00am EST on June 16 to 8:59am EST on June 17, member-to-member transactions will be entirely free! That means you won’t pay a single cent in fees for any transactions between your friends, family or associates. This does not apply to merchant website purchases. Users must be 18 or older in order to create an account, and accounts are restricted to a $250 daily transaction limit until fully verified.

Sign up for a SolidTrust Pay account now and get yourself verified by June 16th to take full advantage of this event!

International Day of Family Remittances SolidTrust Pay

Our hope is that this will help the people who use our services to support their families back home. We want to see them get ahead right at the start of summer as we head into the growing season for many countries. We want our users to be as successful as possible. Because when one of us grows, we all grow.

So, in solidarity with the International Fund for Agricultural Development (IFAD), we hereby declare that we fully endorse and support the following pledge:

To all IFAD’s Member States,

We, SolidTrust Pay, fully endorse the International Day of Family Remittances (IDFR).

The IDFR was unanimously proclaimed by all 176 IFAD Member States at its Governing Council in February 2015. In December 2016, the General Assembly of the United Nations took note of this proclamation.

June 16 is officially designated as International Day of Family Remittances. The day aims to recognize, and to raise global awareness of the fundamental contribution made by migrant workers to the wellbeing of their families and communities back home, and to the sustainable development of their countries of origin.

Remittances represent one the largest single financial forces for good on the planet. At $445 billion to developing countries, the money sent home annually by migrant workers dwarfs international aid and, in some instances, foreign direct investment too. Remittances also promote financial inclusion and disproportionately benefit both the poor and women in emerging markets. Hundreds of millions of families globally rely on these money flows to keep food on the table and a roof over their heads, and to provide education and better opportunities for the future.

Today is a celebration of the hard work, sacrifice and generosity of international migrant workers. As stakeholders  in  the  remittance industry, we  pledge  to  work together to enhance innovative financial technology, provide greater efficiency and lower the cost for a more accessible financial sector to all in order to enable poor people to control their financial life and to be agents of change.

We call upon governments, regulators, financial institutions and development actors to join forces towards this great achievement.
We are committed to celebrating the power of remittances with people throughout the world.

Happy International Day of Family Remittances

**If you use our services to send family remittances and would like to have your story published on June 16th, please send a message to [email protected]!**