Nice Payer - A software platform for registering Debtors with Past Due Debts

Portugal offers few solutions for sharing private information on negative debts and the existing solutions are restricted or unknown to the general public. Therefore, a comprehensive solution, which aims to link the industrial, commercial and services sectors, based on an online platform, with automatic and large-scale adhesion, has not yet been tried. This article analyzes the need for a platform to reduce information asymmetry between people and companies, in order to minimize adverse selection in the Portuguese credit market. Encouraging good payers to have access to interest-free or lower-rate credit, ensuring that creditors have minimum conditions for risk analysis and the respective effective collection of overdue debts is the purpose of the Nice Payer system, proposed here. The article presents a scalable prototype of the proposed system, for managing negative information and whose purpose is to support the existence of a private credit bureau with multinational operations.