Payance - Privacy Policy

Payance ("we," "us," "our," or "the Company") respects the privacy of its members ("you" or "your") and is committed to protecting your privacy. This Privacy Policy outlines the information we collect, how we use it, with whom we share it, and your choices regarding this usage and disclosure. By using our website or availing of our services ("Service"), you agree to the practices described in this Privacy Policy.

Payance operates an online platform facilitating loan registrations from financial institutions in India. By using the Payance platform or transacting with us, you accept this Privacy Policy.

1. INFORMATION WE COLLECT

1.1 Sensitive Data and Personal Information

We may collect "Personal Information," which is identifiable information about a person, and "Sensitive Data," which includes financial details and other sensitive personal information. By providing such information, you consent to its collection, use, and disclosure as permitted by applicable laws.

1.2 Personal Information Collected

We may collect and process various types of personal information, including but not limited to:

1. Information at registration: Name, address, email ID, phone number, bank account details, financial information, and preferences.
2. Direct communications: Information provided via email and other electronic communication.
3. Bank statements: Uploaded during onboarding to assess creditworthiness.
4. Live selfie: For identity verification, possibly shared with third parties.
5. Telephone information: Recorded information shared over calls.
6. Physical information: Information provided in physical form.
7. Additional information: Required via email/electronic communication/telephone/post/courier after registration.
8. Device information: Hardware model, OS versions, and identifiers like IMEI number.

1.3 Domain Name and IP Address

We may collect your domain name and IP address, which do not reveal personal details beyond the IP address used to access our website.

1.4 Cookies

Cookies record aspects of your visit and help us provide uninterrupted service. We do not use cookies for unauthorized uses.

1.5 Email Account Access

You may allow Payance to access your emails for service purposes, such as processing your loan application. We will only view and analyze bank statement emails, adhering to strict confidentiality and applicable law.

1.6 SMS

We only collect and use SMS related to financial transactions to assist lending partners in assessing credit risk.

1.7 Phone

We collect and monitor device-specific information to prevent fraud and unauthorized use of the platform. This includes one-time access to features like camera, microphone, location, and IP address for onboarding and KYC verification.

1.8 Biometric Data

We do not collect or store biometric data unless permitted by statutory guidelines.

2. HOW WE USE INFORMATION WE COLLECT

We use the information collected to:

a. Provide the Services. b. Improve and administer the quality of Services. c. Analyze platform usage and diagnose technical issues. d. Remember basic information for effective access. e. Confirm your identity and eligibility. f. Notify you about website changes. g. Comply with legal and regulatory obligations. h. Send administrative notices and service-related alerts. i. Conduct market research, troubleshooting, fraud prevention, and other activities. j. Enforce our Terms and Conditions of Use.

3. DISCLOSURE OF INFORMATION

3.1 Sensitive Data

We do not publish your Sensitive Data.

3.2 Confidential Treatment

We treat your Personal Information confidentially and will not disclose it except in the following cases:

• Legal requirements: Disclosures required by law or to authorized bodies.
• Business transfers: Information may be transferred during mergers, acquisitions, or bankruptcy.
• Affiliates: Shared with affiliates under the same confidentiality standards.
• Service provision: To provide Services, enforce Terms and Conditions, or protect rights and safety.
• Sharing with partners: Shared with credit information companies, technical partners, etc., for service provision and risk evaluation.

3.3 Consulting and Promotional Offers

We may partner with third parties to provide services and share your information with them under strict confidentiality agreements. We may also send promotional offers, and you can opt-out by adjusting your preferences.

4. CHANGE OF INFORMATION

To correct, delete, or amend your information, contact us at help@payance.in. We may require additional verification information.

5. SECURITY OF INFORMATION

5.1 Security Measures

We use secure servers, firewalls, and encryptions to protect your data. While 100% security cannot be guaranteed, we strive to safeguard your information.

5.2 Data Transfer

Your information may be transferred and stored at locations permitted by law. By submitting your information, you consent to such transfers.

5.3 Internet Security

We assume no liability for information disclosure due to transmission errors, unauthorized access, or other third-party acts.

5.4 Breach Notification

In case of a security breach, we will promptly notify you and take appropriate remedial action.

6. EXCLUSION

This Privacy Policy does not cover unsolicited information provided by you or information posted in public areas of the Website. Such information will be deemed non-confidential.

7. DATA RETENTION

You can request data deletion by submitting a request through the Payance mobile app. However, we may retain data as required by law or for legal obligations.

8. OPT OUT PROCEDURES

8.1 Communications

To opt out of communications, contact us at help@payance.in.

8.2 Email Access Revocation

You can revoke consent for email access anytime via help@payance.in or through the settings at myaccount.google.com/permissions.

9. OTHER LINKS AND WIDGETS

9.1 Third-Party Links

We are not responsible for the privacy practices of other sites linked from our Website. Accessing third-party sites is at your own risk.

9.2 Social Media Features

Interactions with social media features are governed by the respective entity's privacy policy, not ours.

10. NOTIFICATION OF CHANGES

We may update this Privacy Policy at any time. Significant changes will be notified via email or on the Website. Continuing to use the Services indicates your consent to the updated terms.

11. ADDRESS FOR PRIVACY-RELATED QUESTIONS

11.1 Grievance Officer

For questions about this Privacy Policy or our information practices, contact our Grievance Officer. We will respond promptly to your inquiries.

11.2 Contact Details

In accordance with the Information Technology Act, 2000, the contact details of the Grievance Officer are:

Grievance Officer:
Email: help@payance.in