Terms Of Use

Revised: September 22, 2016

A. Introduction

PaySense Services India Private Limited, (hereinafter referred to as the "Company" or “We” or “Us”) collects information from the user accounts created by individuals on the Paysense platform as well as other digital sources of information relating to such individuals (each a “User”) as set out herein. Paysense uses the information to undertake, among other things, an assessment of each Users’ credit worthiness which in turn may enable such Users to make applications for one or more credit facilities (each a “Credit Facility Application”) to credit providing financial institutions affiliated with Paysense (each a “Paysense Partner”). Each of the credit worthiness assessment and the application for a credit facility form part of the services offered by Paysense to Users and Paysense Partners (individually and collectively the “Services”) The Company collects information from Users at the time of account creation as well as on an on-going basis from their emails, text messages, mobile phone address book, social media profiles and such other sources as authorized by the users and mingles it to create unique profiles for individuals that it uses in conjunction with proprietary algorithms to determine whether or not a particular individual should be offered the Service. Paysense also provides risk evaluation and management services to the Paysense Partners.

Please note that not all individuals whose information is collected by the Company will not be offered the Credit Facility Application part of the Service because the Service provides a dynamic evaluation of risk. The Service also relies on other factors such as the amount/limit of credit facility (“Advance”) sought and other parameters/requirements set out by Paysense Partners including their credit eligibility parameters. Hence, the Company or the Paysense Partner may evaluate an individual and may allow him/her to submit a Credit Facility Application for a sum up to a specified credit limit to a Paysense Partner but disallow submission of Credit Facility Application to another Paysense Partner. Each offer of Service made by the Company is based on the Company’s proprietary and discretionary decision making methodologies and also relies on the credit risk requirements specified by a Paysense Partner.

The Company values your privacy and is committed to ensuring that you are aware of how your information is being used. The Company actively seeks to minimise the manual interventions and review of data since the Service is designed to operate in a real-time, dynamic online environment. Therefore, while the Company does not rule out the possibility that your information stored in the Company’s database will be accessed and reviewed by an employee or contractor of the Company in the performance of their official duties, your information will mostly be accessed, reviewed, analysed and modified by the Company’s computer programs. The Company will take reasonable efforts to ensure that human access to your information as stored in the Company’s databases is limited to that necessary for servicing your account in accordance with your requests from time to time.

The Company will not share the information regarding you that it has collected with third parties for the purposes of marketing or advertising campaigns. The Company will collect, store and use your information only for the purposes of the providing the Service to you and if permitted by applicable law, to offer certain services to the Paysense Partners in relation to their transactions with you.

This Privacy Policy endeavours to inform you of the types of information that may be collected, and the manner in which such information is collected, used, processed, disclosed and maintained. This Privacy Policy must be read in conjunction with the terms of use and any other terms and conditions in relation to the Service that may be set out by the Company.

Please read and understand this Privacy Policy carefully. Your installation of the Paysense mobile application and/or use or access of the Services shall constitute your agreement to this Privacy Policy. If you do not agree with our policies and our practices as described in this Privacy Policy, your choice is to not use the Services. You will always have the ability to opt-in and opt-out of the Service by sending us a request at [email protected] However the Company will retain certain of your information to the extent required to maintain a “Do Not Contact/Do Not Offer” list.

BY ACCEPTING THE PRIVACY POLICY, YOU EXPRESSLY CONSENT TO COMPANY’S COLLECTION, RETENTION, ANALYSIS, USE AND DISCLOSURE OF YOUR PERSONAL INFORMATION IN ACCORDANCE WITH THIS PRIVACY POLICY.

B. Applicability of the Privacy Policy

This Privacy Policy shall apply to all information the Company collects either from you or the Paysense Partner(s). The information the Company collects for the provision of Services are as follows:

Contact or Identification Information

This includes but is not limited to your name, email, phone number, passport number or other similar heads of information that allow us to accurately identify you.

Transaction Information

This includes information such as historical data of your transactions with the Paysense Partner, including the total number of Advance(s) availed, the total outstanding in a specific or across all the Advance(s) availed by you, the repayment schedule and the amount(s) repaid by you to the Paysense Partner(s) as well as your consumption habits, items purchased, rides taken, tickets purchased, items you have selected for purchase, method of payment used or other similar heads of information based on the information stored on your mobile phone and other digital sources of Information that you provided the Company with access to. This information is collected to allow the Company to understand your transactional activity which in turn informs and allows the Company to refine the credit risk assessment associated with You.

Usage and Preference Information

We may collect information on your use of our Services, and any settings and preferences selected. We may also assign you with unique identifiers to enable us to identify you, each time you access the Services. This information shall not be deleted from our servers if you decide to discontinue using our Services, as it shall be the basic data with which we identify you and will be needed to ensure that your other information is not stored or analysed by Us when you transact with one or more Paysense Partners.

Device Information

We may collect information about your mobile or computing device, communication device, browser information, IP address including, for example, the hardware model, operating system and version, software and file names and versions, preferred language, unique device identifier, advertising identifiers, serial number, device motion information, and mobile network information or other similar heads of information that allow us to accurately identify you. We may also collect specific types of information stored in the devices of the User that enable it to provide the Service including contact lists of the User, specific applications installed by such User on his/her device and call logs.

Card and Financial Information

For the provision of Services We will collect the following types of banking information from you – credit/debit card details such as the first six or the last four digits of your card number, wallet information (if you have a wallet with us), card details for quick purchase where you have selected the preference of letting us store information. However for the avoidance of doubt we would like to clarify that we do not store or process information necessary to make online payments such as all the digits of a credit card number/bank account number, CVV numbers, one time PIN numbers and similar payment authentication information. However, do note that such information may be collected, stored and used by the payment gateway service provider you choose to complete your transaction with. All such information will be subject to and processed in accordance with the payment gateway service provider’s terms and conditions.

All of the above heads of information is collectively referred to as “User Information”. This Privacy Policy does not apply to, nor does the Company take any responsibility for, any information that is collected by any third party during your use of the Services, or through any links you click and view during your use of the Services or through any of the advertisements or through BOTS.

If you transact with multiple Paysense Partners or receive multiple credit facilities from a specific Paysense Partner, we may collate and merge all the information we receive from all such Paysense Partners to create a single profile to help provide you with better Services. The deletion/removal of your information by you from one Paysense Partner’s database does not constitute the removal or deletion of your information from the Company’s Services.

C. Manner Of Collection Of Information:

You understand that the User Information collected by the Company, may be collected:

  1. When you register with the Company by setting up a user-account;
  2. Through your transactions with any of the Paysense Partners;
  3. Directly through user input;
  4. Through your usage of the Services;
  5. Through automatic tracking of your usage of the website or any web/mobile application of Paysense or Paysense Partner
  6. Through access you provide the Company with to applications on your smart phone or tablet;
  7. Through the use of cookies and other tracking technologies.
  8. PaySense uses analytics tools to improve customer experience such as Smartsupp.com (s.r.o., VAT ID CZ03668681) to track user activity, page content, click/touch, movement, scroll on the website. Your personal information is never stored or shared with any of these third-party tools.

The collection of data may in most cases be automatic.

"Cookies" are files that would be placed in your computer system’s hard drive and browser and are intended to improve your experience when you use Services, by enabling the Company to track your usage and preferences. These cookies may track your usage of the Services, advertisements and links that you visit and other User Information. Most cookies the Company uses are limited to a session, which mean they will be automatically deleted when your session closes. You may decline these cookies by changing your settings, if permitted. However do note that doing so may impact certain features of the Services or your experience while using the Services.

You may also provide information to be published, displayed, posted, or transmitted to other users of the Services. Any such information is posted or transmitted to others at your own risk. Please be aware that the Company cannot control the actions of other users of the Services with whom you may choose to share information with.

D. Use of Your Information

The information that we collect from you will be used:

  1. For determining on a dynamic basis, whether or not you should be offered the Service;
  2. For the provision of Services including the maintenance and continuous improvement of the Services, the refinement of the proprietary methodologies used to power the decision making intrinsic to the Services and for other analytical purposes;
  3. To create a single profile on you, based on information received from the activity on your smart phone, your use of the Paysense mobile application and your use of the Services, if made available to you;
  4. The development and addition of new features to the Services, including data analysis, testing and other forms of data processing to help optimize the provision of Services;
  5. To contact you and deliver information, administrative notices, targeted advertisements and any other communication relevant to your use of the Services.
  6. By third parties who the Company contracts with to the extent required for the provision of Services to you.

If the Company determines that any information you have provided or uploaded violates the terms of this Privacy Policy, the Company has the right, in its absolute discretion, to delete or destroy such information without incurring any liability to you. The Company will not publish, sell or rent your personal information to third parties for their marketing purposes without your explicit consent. The Company will use the information collected primarily for the purpose of providing the Service. The Company may also allow third parties to provide it with content and advertisements that the Company may display to you based on its analysis of your information.

E. Disclosure of Your information

The User Information you provide may be disclosed by the Company to its agents, employees, subsidiaries and affiliates, or to other third party service providers of the Company who require the information for the purposes of operating and maintaining the Company’s platform for the provision of Services. Particularly, the Company will disclose the User Information to the Paysense Partner to the extent necessary for such Paysense Partner to process and approve a Credit Facility Application submitted by you.

The Company will comply with requests and directions of all governmental, law enforcement, or regulatory authorities, which it believes in good faith to be in accordance with any applicable law. Such compliance may include providing User Information whether it is personally identifiable information or not, to such agency or authority. By providing any information to the Company, you consent to the Company providing such information to any governmental, law enforcement or regulatory authorities who exercise jurisdiction over the Services provided and the Company.

F. Data Security

The information that you provide, subject to disclosure in accordance with the Company’s Privacy Policy, shall be maintained in a safe and secure manner. The Company’s databases and information are stored on secure servers with appropriate firewalls.

As a User of the Services, you also have the responsibility to ensure data security. You should use the Services offered in a responsible manner. Do not share your username or password with any person. You are solely responsible for all acts done under the username you are registered under.

Given the nature of internet transactions, the Company does not take any responsibility for the transmission of information over the internet including User Information shared and collected. Any transmission of User Information on the internet is done at your risk. The Company does not take any responsibility for you or any third party circumventing the privacy settings or security measures it has in place or those provided to you during the use of the Services.

While the Company will use all reasonable efforts to ensure that the User Information and other information submitted by you is safe and secure, it offers no representation, warranties or other assurances that the security measures are adequate, safe, fool proof or impenetrable.

G. Accessing and Updating Your Information

You can change, alter of otherwise modify or update certain types of User Information at any time if the information is factually incorrect or has changed by changing the information in your User account or by contacting us. For example, you can ask the Company to update your telephone number or email address.

You may also change and/or delete any of the information you have submitted. Do note however, the Company reserves its rights to retain any information pertaining to your usage of the Services and information that you have shared with the Paysense Partners as is necessary to ensure the proper and accurate functioning of the Services. You are not entitled to seek the deletion of the same to the extent that it would affect the ability of the Services to analyse and make recommendations on risk. Such information including your information collected from Paysense Partners may be used by the Company to determine whether or not the Services offered may be availed by you.

The Company at its sole discretion may permit or deny the change of any information, if it is believes the same is required to observe applicable laws.

H. Age Restrictions

The Services provided by the Company or the Paysense Partner (as applicable) are only intended for Users who are 18 years of age or older. If you are not of the requisite age you are not to provide any User Information or other information to the Company. If it comes to the Company’s attention, that any User Information or information shared pertains to an individual under the age of 18 years, such User Information or information will be deleted without notice to you.

I. Amendments to the Privacy Policy

This Privacy Policy is subject to change at the Company’s sole discretion. Any changes to the Privacy Policy will be notified by a notice on the home page.

J. Complaints

If you wish to place a complaint with regard to privacy requirements or laws, access any of your Information that we hold or would like to correct any errors in your User Information, please contact our Grievance Redressal Officer at [email protected] so that we can consider and respond to your request. All requests will be addressed no later than thirty (30) days from the date such a request is made.

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