Privacy Policy for AlayoPay
Effective Date: 01/01/2025
Last Updated: 01/02/2025
Welcome to AlayoPay. Your privacy is important to us. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our mobile application and services. By using AlayoPay, you agree to the practices outlined in this policy.
1. Information We Collect
1.1 Personal Information
To create an AlayoPay account, we collect the following information:
- Full Name
- Phone Number
- Email Address
- Password
For upgraded services and in compliance with the Central Bank of Nigeria (CBN) regulations, we may require additional verification information:
- Email verification
- Phone number verification
- National Identification Number (NIN) and/or Bank Verification Number (BVN) for generating dedicated virtual bank accounts
1.2 Automatically Collected Information
We may collect certain information automatically, including:
- Device name and identifier
- IP address (location data) for security and device management
- Login date and time
1.3 Permissions We Require
To provide full functionality, our app may request the following permissions:
- Internet Access: For communication with our servers and service providers.
- Storage Access: To store and manage certain application data.
- Contact Access: To allow users to select recipients when sending payments.
2. How We Use Your Information
We use the collected information to:
- Create and manage your account
- Verify your identity for security and compliance
- Process transactions and generate virtual bank accounts
- Detect and prevent fraudulent activities
- Improve user experience and app functionality
- Provide customer support and respond to inquiries
- Comply with legal and regulatory requirements
3. How We Share Your Information
We do not sell your personal information. However, we may share your data with:
- Regulatory Authorities: To comply with Central Bank of Nigeria (CBN) regulations and other legal requirements.
- Payment Aggregators (Paystack, Monnify, Lenco): To facilitate the creation of dedicated virtual bank accounts.
- Service Providers: For data storage, fraud detection, and app functionality improvements.
- Legal Entities: If required by law or to protect the rights and safety of AlayoPay and its users.
4. Data Security and Secure Handling Procedures
We implement industry-standard security measures to protect your personal information, including:
- End-to-end encryption to secure sensitive data during transmission
- Secure storage methods with limited access to authorized personnel only
- Regular security audits and compliance checks
- Strict data access policies to minimize exposure to personal and financial data
All sensitive data, including NIN and BVN, is securely shared only with trusted payment aggregators and strictly in compliance with regulatory directives. Users are encouraged to report any suspicious activities related to their account security.
5. Data Retention and Deletion Policy
We retain user data only for as long as necessary to provide our services, comply with legal obligations, and enhance security. Specifically:
- Personal data related to identity verification is retained as long as the account remains active or as required by law.
- Transactional records are maintained for compliance with financial regulations and audits.
- Users can request data deletion, and once approved, we will remove all personal data except where retention is legally required.
To request data deletion, users should contact us via [email protected]. Deleting an account will result in the irreversible removal of all associated data, except where financial and legal compliance dictates retention.
6. Location and Device Management
- Location is estimated based on the IP making server request at the point of logging in.
- This data is used for device management and security.
- Users can view details of devices that have accessed their account, including device name, date, time, and location.
- Users can remove any device, which will terminate its session and revoke access.
6. OTP and Additional Security Measures
- In cases of suspicious login attempts, an OTP may be required for verification.
- Users are advised to keep their login credentials secure and report any unauthorized access immediately.
7. User Rights
You have the right to:
- Access, update, or delete your personal information
- Withdraw consent for certain data processing activities
- Request details on how your data is used and shared
To exercise these rights, contact us: Email: [email protected] WhatsApp: https://wa.me/2349032330132
8. Changes to This Privacy Policy
We may update this Privacy Policy from time to time. Changes will be communicated through our app or website. Continued use of our services after updates means you accept the revised policy.
9. Contact Us
If you have any questions or concerns regarding this Privacy Policy, please contact us at:
AlayoPay
Email: [email protected]
Phone: +234 903 233 0132
Website: https://alayopay.ng