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Locpay Finance, as an online finance business institution, committed to the long-term confidentiality and security of your personal data. This Privacy Policy is here to provide you with a clear overview of how and why we collect your personal data, what we use it for, and highlight your rights to data privacy as a Locpay user.
If you are a customer of Locpay, subscriber to our online service, on our applications “Apps” (Android or IOS or a prospect, or, if you are a visitor of our website www.Locpayfinance.io, this Policy applies to you.
Personal data is data that identifies you directly (e.g: your name, surname, e-mail address) or indirectly (e.g: your IP address, BVN, and other forms of identity provided to us.
– We do not, nor the third-parties we are working with, sell your personal data. – We make sure that your data is always secure. For more information, see the last section below related to our security principles.
Under Privacy Laws, you benefit from several rights regarding the use of your personal data;
● You can ask us to erase the data we hold about you, that you or our third-party partners provided to us, if it is no longer necessary for us to use Locpay and to comply with our legal obligations.
● Obtain a copy of the data Locpay holds about you. As a financial institution we might process an important amount of data. Hence, we might ask you to precisely state what type of data set you may want to access to better scope your request.
● Rectify your information if you believe there is an inaccuracy.
● To obtain any information about how Locpay uses and handles your data. We have tried to make it easy for you to understand the processing of your data in this Privacy Policy. If you do not find the answer to what you want, please contact us.
● Withdraw the consent you gave us for processing your data when we asked for it, especially for sending you marketing emails.
● You can make an objection to the processing of your data, notably for profiling you to send you personalized offers.
● You have the right to lodge a complaint regarding the use of your data. Please tell us first, we will make our best efforts to address your concern. If you think we failed in this, you can address your concern to the Data Protection Authority of your country. Our privacy team will be happy to answer any of your questions or requests listed above, please send us an e-mail at info@Locpayfinance.io
We receive information from you directly and indirectly. Directly: most of the information we process is provided by you in the course of using our service, or, in any situations described below.
When you subscribe to our service and create an account at locpay, we ask for your email address, name, surname, identification data (passport, ID card), biometrical data, date of birth, place of birth, company data etc. The legal basis for processing those data is the execution of the contract you signed with Locpay and the regulatory requirements applicable to Locpay on fraud detection, anti-money laundering, reporting of suspicious transactions and any monitoring activities required by the financial laws. We will keep your data for 5 years after the closing of your account as required by law. To receive our news updates by e-mails, push notifications or InApp messages, on the update of our products, to send you industry news, new partnerships and events. We will ask for your email address, name and surname. You can always withdraw your consent to receive commercial offers by using the unsubscribe link at the end of every email you will receive from us. We will keep this data 3 years after the last contact you had with us. When you navigate on our website, we might track your behavior for analytics purposes, analyze the performance of the website, suggest adverts according to the choices you made in the management center of the cookie banner.
To do so, we may collect your IP address, credentials, user IDs, e-mail address, log-in and tracking information. The legal basis of this processing is the legitimate interest for technical cookies – and the consent for non-technical cookies. We will keep your data for 6 months for non-technical cookies and 12 months for technical ones. Note that you are always able to change the settings of your consent choices in our cookie banner. You make transactions using our product: we might use your aggregated transactional data for internal analytics purposes. This processing is based on our legitimate interest to better scope our marketing efforts in the media landscape Based on your preferences, we may also suggest personalized and non-personalized offers. In the case of personalized offers, we will use your data to create your profile. Before starting such profile creation, we always make an analysis to ensure that we do not overreach your rights and interests. You can always object to this processing by contacting us. If we want to inform you via e-mail, push notifications or In App messages on your user behavior, we will do it based on the performance of the contract you signed with Locpay and our legal obligations to inform you on your transactions, withdrawals, balance, etc.
We will keep the data corresponding to your transactions 5 years after the closing of your account as required by financial law. You send requests on our dedicated platforms: we might collect some personal information such as your contact details, ID documents, IP address, content of the exchanges, financial information, etc. to answer your requests regarding our product and services. This data processing is based on the execution of the contract you signed with Locpay. We will keep such data for 5 years after the closing of your account. You speak over the phone with our Customer Success team: we may ask you to provide your phone number to assist you on the use of our product and service, present you our new features, inform you on incident alerts, etc. The processing is based on your consent to recontact you when asked for it. We will keep the calls for 6 months in a live environment and 5 years in an archived database to comply with our legal obligations. You participate in customer surveys: after the onboarding, we will ask you to rate our service and give us some feedback at different stages of the usage of our product. We will collect your user ID and store this information internally for as long as you are a Locpay client. The processing of the data is based on Locpay’s legitimate interest to improve the quality of our service.
You ask to be recontacted by our Sales team: to answer the requests you submitted by filling one of our online forms, we ask you to provide your name, surname, e-mail address, and phone number. The processing of the data is our legitimate interest to present you with the latest update on our product and answer any of the questions you might have. Your data will be kept for 3 years after the last contact you have with us.
You are a Locpay affiliate: we will collect your email address, name, surname and phone number so as to communicate with you on a regular basis and send our newsletter on our affiliate program. The processing of these data is based on our legitimate interest to ensure a smooth communication with you. Your data will be kept in our systems as long as you participate in our program and will be deleted after a prolonged period of inactivity. You participate in our referral program: we will collect your email address to send you the referral link to benefit from a discount. The legal basis for the processing of your e-mail address is our legitimate interest You are a business partner: we will collect your contact details, physical address, professional email address, for billing purposes. The processing of this data is based on the execution of the contract you signed with Locpay. We will keep your data for 10 years so as to comply with accounting laws.
Indirectly: we also receive your data from other external third-parties;
● From our third-party partners, to improve the quality of our service, offer you new features or services provided by other parties, send you marketing communications by e-mail or contact you over the phone.
For instance, some of our partners with whom you have signed a contract will transfer your data to us so as to ease your onboarding process at locpay.
● From our other branches or subsidiaries located in your country.
● As professionals, you may have registered your business information and business contact details on public databases. We may retrieve those information related to your business account.
● Our partners and providers with whom we collaborate to offer you a wide range of connected services on our Apps.
*For instance, if you want to buy stocks through your Locpay app, you will be redirected to our partner’s platform and we will send them some personal data for them to comply with their financial and regulatory obligations. Similarly, if you want to subscribe to our product, you consent to the sharing of your information to our partner to benefit from the service.*
Please note that Locpay is not responsible for the handling of your data by these partners. When you access third-party services from the Locpay App, some of your data is transferred to them and they become fully responsible for the processing of your information. Please note that Locpay is not responsible for the handling of your data by these partners. When you access third-party services from the Locpay App, some of your data is transferred to them and they become fully responsible for the processing of your information.
● Public authorities, governmental bodies, or other financial institutions so as to comply with our legal obligations.
● Our technical providers that help us to provide the service.
Where do we store your information? The personal data we collect and process are stored on the servers of our data storage provider Digital Ocean Inc. in New York City, America..
How secure is the data we collect? To protect your data we have put in place physical, technical and managerial procedures.
● The transmission of your information is always made via the Internet and secured through HTTPS connection protected by an SSL certificate SHA-256/RSA Encryption).
● We are regularly audited by independent external security specialists from the financial sector, conduct penetration tests, so as to control that we always apply the highest security measures to our systems.
● The access to your Locpay account is secured by your identifier and your password that must be strong enough and never shared with anyone.
● For the most sensitive actions, we always use a two-factor authentication method through a validation code from a device associated with your “paired device” account.