THIS PRIVACY POLICY (THIS AGREEMENT/ PRIVACY POLICY) SETS FORTH THE MODES OF COLLECTION, USE AND DISCLOSURE OF YOUR INFORMATION GATHERED ON THE PLATFORM (DEFINED BELOW). THIS PRIVACY POLICY APPLIES ONLY TO PERSONAL INFORMATION COLLECTED ON THE PLATFORM. THIS PRIVACY POLICY DOES NOT APPLY TO INFORMATION COLLECTED BY US IN OTHER WAYS, INCLUDING INFORMATION COLLECTED OFFLINE. PLEASE READ THIS PRIVACY POLICY CAREFULLY. BY CONTINUING TO USE THE SERVICES, OR ACCESS THE PLATFORM YOU AGREE TO THIS PRIVACY POLICY. IF YOU DO NOT AGREE TO THIS PRIVACY POLICY, YOU MAY NOT AVAIL THE SERVICES.
INTRODUCTION. We have developed a mobile application called (PrimePay) (Application/ App / Platform) through which you may apply for a short term loan (Loan) to be granted by us, or various non-banking financial company or Banks (collectively as Lender), based on the loan agreement executed between you and LENDER. We have been appointed and authorized to collect, store, authenticate, verify and distribute the Personal Information (defined below) as may be required for sanctioning the Loan. The Personal Information shall be collected through the mobile application form available on the Application. We are committed to protect your privacy and have made this Privacy Policy to describe the procedures we adhere to for collecting, using, and disclosing the Personal Information. We recommend you to read this Privacy Policy carefully so that you understand our approach towards the use of your Personal Information.
("we" or "us") takes your privacy seriously. This privacy policy explains why we collect data, what data we collect, how we use the data, how we store and transfer the data, as well as who we may share the data with. You specifically authorize us to collect and process data in accordance with this Privacy Policy.
We may share your data with third parties in certain circumstances. We may, for example, share data with:
1.Credit bureaus, in requesting credit histories or reporting loan defaults;
2.Collections agencies, responsible for recovering overdue loans;
3.Government bodies and law enforcement agencies, to comply with the law;
4.Professional advisers, to enforce or defend our legal rights; or
5.With a purchaser or seller in connection with a corporate event such as a merger, business acquisition or insolvency situation.
When you register for the Service, we will collect personal data such as name, age, email address, phone
number, physical contact information, personal description, username, password, photograph Date of Birth
Image of a government-issued identity document and other registration information and(depending on the
service used) sometimes financial information, such as Bank Verification Number(BVN), credit card or
bank account numbers. With the
above information, we may cross-check your identity with third parties including the person you have
provided as your relationship contact. The Contact Information you provide will only be used to verify
your identity and to reach you in the case of emergency, and will NOT be used for loan
repayment/collection purposes. Your loan information won’t be shared with the contacts. We will also
collect data from your device for our credit-scoring system. This includes information relating to your
device, such as device make and model, operating system, and installed software applications. We may
also collect your email and information related to device activity such as SMS logs and GPS location
information. To supplement this information, we may also collect data from third parties such as credit
bureaus and other financial institutions. By registering for the Service, you authorize the collection
and processing of the foregoing data.
Your personal information is usually used for the service you have signed up for and authorized. We will not use your data for unauthorized activities.
Your personal information is usually stored in a database maintained by our service provider to comply with relevant financial regulations and data protection laws. The information is only used to satisfy your request on the app or to provide you with services. We will not disclose personally identifiable information to third parties, except we are compelled to for purposes of satisfying a legal or regulatory obligation. We will take all necessary steps to ensure that your data is processed, stored and transferred safely in compliance with this policy.
We collect certain data in order to properly and adequately provide the Service to you. We also collect data in order to verify your identity, and to create credit scoring models to determine what Loans we may offer you. We also use this data for purposes of collections and credit reporting.
If you have any questions about this privacy policy or other privacy issues, please reach us at: [email protected].