An update to Brex's commitment to privacy
Protecting user privacy is core to how we’ve built our business at Brex. We know our customers entrust sensitive information to us whenever they use our products.
Your credit limit and how much of it you use. The merchants you spend at daily, monthly, annually. The integrations and tools you use for your expenses. Your AWS bill. The meal you treated a client to next door. It’s up to us to ensure we are good stewards of the information our customers provide us—and protect it. And we’re committed to keeping it private across our entire suite of products and services.
Here are just a few commitments we’re making to our customers:
- We do not and will not sell any personal information we collect.
- Our card issuing bank partners will never use personal or transactional information for their own purposes.
- We promise to listen to feedback and answer any questions about our privacy practices.
Our customers’ data is not our product. We make money through interchange (fees paid by merchants when accepting credit cards). Brex is not a bank or a typical financial technology company—we operate differently. While many fintech companies sell data to other parties, we do not. Nevertheless, customers do entrust us with their data, which we use to deliver the most efficiently priced financial products that accelerates their growth.
Here’s how the product works: the more sales we see you’ve booked, or the more capital we see you have, the higher the credit limit we extend you each month. As those metrics change, we re-evaluate your credit limit. The real time inputs customers share with us influence how we look at their businesses, and we use that data to improve our products for you. We never sell it to third parties.
Data associated with a card transaction is collected and used to facilitate that process. Parties that touch the data include merchants, point of sales (PoS) providers, payment processors, card networks, acquiring and issuing banks, and other intermediaries, such as Brex. Brex works closely with issuing bank partners, like Emigrant Bank, to make sure that transaction and account information is owned by Brex and only shared to provide services, comply with our legal obligations, and prevent fraud. However, we cannot control the collection of information by other service providers that we do not have relationships with, including the merchants, payment processors, and the card networks. We encourage you to visit those company’s privacy policies for more information on their data privacy practices. You can opt out of data analytics with our card network, Mastercard. That being said, we advocate for our customers’ privacy in any way we can.
We’re also committed to placing high standards around how our partners operate and use the data we provide to them. Our partners and service providers are prohibited from cross-marketing to our customers without explicit customer consent. We work with our partners to limit the data they can access and use to only the data needed to help us provide services to you.
We will continue to improve our data privacy practices and stay ahead of the rapidly changing financial services industry standards around data protection. While no company is perfect, we’re focused on protecting our customers and continuously adapting to their needs with cutting edge technology and policy.
As we make improvements, customers can always expect to hear it proactively from us.
In the meantime, keep growing.