Like many of the world’s most innovative technology companies, Medici uses Stripe to process credit card payments in the U.S. Stripe processes billions of dollars in payments each year for companies like Uber, Lyft, Slack, Instacart, Etsy, Kickstarter, Unicef, USO, Amazon, and even Google. They are the best in the business in terms of service and security, which is why we chose to partner with them here at Medici.
Due to The U.S. Patriot Act's "Know Your Customer" (KYC) checks, payment processing companies are subject to strict regulations regarding the verification of individuals and companies making and accepting payments online. The primary reason for this is to ensure individuals and businesses on Medici are not on a "Prohibited Persons" list. This is so we can collectively combat crimes related to money-laundering, terrorism, and other terrible things.
In the past, Medici has not required all of your personal information upfront. However, random account reviews that Stripe must perform have created a situation where providers could be suddenly cut off from performing consultations on Medici until the information was acquired. To avoid sudden service disruptions, Medici made the decision to get the information we need to keep providers up and running to care for their patients.
Much like other marketplace platforms (Airbnb, Indiegogo, etc.) the additional pieces of information that may be required are:
When you input this information directly into the Medici app, it is securely sent to Stripe, not stored on any Medici system, and used purely for verification purposes.