Privacy Notice and Process to Incorporate Notice

TerraPay Holdings Limited

1. Introduction

TerraPay Holdings Limited and our affiliates worldwide (collectively “TerraPay,” “we,” “us,” “our”, “ours”) value your privacy and are committed to treating your data with respect.

This privacy notice (“Privacy Notice”) explains what information we collect about you and how we use, store, share and safeguard it. This Privacy Notice applies to you if you have consumed our products and services (directly or via third parties), and/or if you visit www.terrapay.com (the “Website”) and online applications, which are owned and operated by TerraPay Holdings Limited


2. Purpose

TerraPay respects your privacy and is committed to maintaining the confidentiality and security of the information of its existing, prospective, and former customers and beneficiaries. This Privacy Notice sets out how we collect, use, store, and share the Personal information you provide us on TerraPay websites and the rights available to you. The Terms of Use are also subject to the terms of any other agreement you, your employer or other person or company you are representing, may have with TerraPay, as appropriate.

TerraPay has an Organizational Privacy Policy that applies to all affiliates and employees worldwide. This program helps us ensure that personal information is handled properly. The Organizational Privacy Policy governs personal information collected by TerraPay for its own purposes as well as information provided to us as a data processor for our clients. It concerns the protection of information collected online as well as offline. The privacy statements mentioned in this policy document are a subset of Terrapay’s Organizational Privacy Policy.

To the extent required by applicable law, whenever TerraPay collects personal information, TerraPay will:

  • provide you with a notice of our data practices;
  • collect it only for specified and legitimate purposes. The information we collect will be relevant, adequate and limited to the purposes for which it is collected;
  • process your personal information in a manner which is consistent with the purpose of collection or for a purpose for which your consent was taken;
  • take appropriate measures to ensure that your personal information is accurate, complete, and, where necessary, kept up-to- date; and take reasonable steps, either by contract or otherwise, to provide protection to the personal information that is disclosed to third parties.

  • 3. How do we collect your personal information?

    We collect information about you mainly through our business partners/service providers, TerraPay’s Website, and third parties or publicly available sources. This information includes Personal Information as described in this Privacy Notice. To know more about these sources of Personal Information, please refer to the sections below.

    We do not collect any personal information from Social media like Facebook, twitter etc. Kindly do not disclose any personal information on social media.

    Personal Information refers to any information relating to an identified or identifiable individual directly or indirectly, such as name, address, telephone number and email address.

    Additionally, “process” or “processing” means any operation which is performed upon personal information, whether or not by automatic means, such as collection, recording, organization, structuring, storage, adaptation or alteration, retrieval, consultation acquisition, holding, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction.


    4. What personal information do we collect?

    TerraPay collects the following information to provide you services through our business partners.

    • Full Name (sender and recipient of the transaction)
    • Address (sender and recipient of the transaction)
    • Nationality (sender and recipient of the transaction)
    • Telephone, including mobile (sender and recipient of the transaction)
    • Relationship between sender and recipient of the transaction
    • E-mail
    • Age
    • Date of Birth
    • Gender
    • Birthplace
    • Labour details
    • Origin of the financial resources
    • Financial background
    • Identification document (e.g. National ID, Driving License, Passport)
    • Bank statements
    • Transaction amounts
    • Bank account details
    • Credit / Debit card numbers
    • Marketing & other contact preferences
    • Purpose of the transactions
    • Relationship
    • IP address, website / mobile app usage data collected via automated means, such as cookies (available here) and similar technologies

    As a payment solutions provider, TerraPay has certain obligations with regards to identity verification, fraud prevention, KYC checks and other similar security purposes. To ensure compliance with these obligations, certain of the Personal Information described above may be collected from, or verified against, third party sources such as government agencies and global regulatory databases.


    5. Why do we use your information?

    We use your information for providing services which may include the following:

    • Authorizing and processing transactions, including effecting, and administering money transfers and ensuring proper payment to the designated recipient of funds
    • Monitoring and improving our services including Website and its content.
    • Protect against and prevent fraud, and other legal or information security risks
    • Provide connectivity and dispute resolution services as part of our services
    • Respond to queries and complaints received from you regarding our services and products
    • Provide and communicate with you about products and services offered by TERRAPAY, financial institutions and partners, affiliates and third parties
    • Where you have given explicit consent to do so e.g. marketing communications, promotions, etc.
    • Process your job application
    • Serve a legal obligation
    • Meeting legal, regulatory, self-regulatory, risk management, fraud prevention and security requirements, which may include (among other measures) verifying the identity of the sender and recipient of funds and checking identities against money laundering, terrorist financing or similar watch lists established by regulatory agencies or similar bodies.
    • For identity verification purposes, senders and recipients of money transfers may be required to produce valid identification or consent to verification by other means before releasing funds
    • Maintaining business and transaction records for reasonable periods, and generally managing and administering our business
    • Meeting insurance, audit, and processing requirements
    • Otherwise as permitted or required by law

    Change of purpose

    TerraPay will only use your personal information for the purposes for which it was collected, unless it is required to be used for another reason that is compatible with the original purpose. Please note that Terrapay may process your personal information without knowledge or consent, in compliance with the above rules, where it is required or permitted by law.

    Marketing choices

    Users may opt out of receiving certain marketing communications and use of their data for marketing by TerraPay. To opt out of receiving or to manage your preferences on such communications via email/SMS or both, click here (clicking on “here” may lead the user to a link where the user can either opt-out of marketing communications or manage his/her preferences regarding such communications)


    6. Legal basis for processing your information

    We will process your information only if and to the extent that at least one of the following applies:

    Compliance with Legal Obligations

    TerraPay may process Personal Information when necessary to comply with a legal obligation, e.g. Anti-Money Laundering screening and reporting requirements and where required to comply with court order or judicial proceedings.

    Legitimate Interests

    TerraPay may process Personal Information in pursuance of its legitimate business interests where such processing is necessary, and our interests are not overridden by your privacy rights. For instance, our legitimate business interests may include communication in relation to requested transactions, internal record keeping purposes and fraud prevention.

    Contract

    TerraPay may process your Personal Information as required to comply with our contractual obligations.

    Consent

    TerraPay may process Personal Information for certain purposes such as marketing only with the consent of the user in line with the requirements of applicable privacy and data protection regulations.


    7. Why do we share your information?

    To carry out the processing activities established in this Privacy Notice, TerraPay may disclose your Personal Information to:

    • Data Processors: TerraPay may share your Personal Information with third-party service providers (“Data Processors”), including subsidiaries and affiliates of TerraPay performing services on our behalf, for example, information technology, data hosting, marketing, customer care, fraud prevention, etc. We take steps to ensure that Personal Information processed by Data Processors is protected and not used or disclosed for purposes other than as directed by us.
    • Third-party data controllers/joint controllers: TerraPay may share Personal Information with third parties acting independently from TerraPay as may be required in connection with the services provided to you, for example, any intermediary banks or other financial institutions involved in the transaction of TerraPay services. TerraPay may share Personal Information with partners, affiliates and third parties who perform services for us, collaborate with us, help us operate our business and/or with whom we jointly offer or develop products and/or services
    • Successors: If TerraPay is purchased by/sold to a third party, Personal Information held by TerraPay will be transferred to the successor entity.
    • Relevant Authorities: TerraPay may disclose your Personal Information as necessary to meet legal and regulatory requirements. This may include disclosure of Personal Information to government authorities in compliance with suspicious activity reporting requirements under anti-terrorism, anti-money laundering, proliferation financing and similar laws and regulations depending upon the country.

    8. Cross Border information Transfers

    In connection with providing services to our customers, we may transfer your Personal Information to countries outside your country of residence. These countries may have data protection laws that vary from the laws in your country. Further, please note that the data protection laws of other countries that your Personal Information may be transferred to may not be as extensive as the laws in your country. When transferring Personal Information outside your country of residence, TerraPay tries to ensure that security measures and appropriate safeguards are put in place to protect the Personal Information.

    For more information on the measures and safeguards in place while transferring your Personal Information outside the EEA, India, and Kenya, please refer to the section titled “Additional Information for”.

    Minor

    We do not collect any information of children below 18 years of age.


    9. How do we protect and store your information?

    We respect your privacy and your information is important to us as it is to you. TerraPay takes all reasonable steps to ensure that all information collected through our services and business partners is treated securely and in accordance with this Privacy Notice following strict data protection standards. We limit access to your information to our employees who need to know the information and are bound by confidentiality obligations. We store your information in a secured infrastructure and adopt appropriate standards against its accidental loss or destruction. However, we do not guarantee complete security of your information transmitted over the internet to our Website, application, and services. We constantly assess our organizational and technical security measures to protect your information.

    In the event of an information security breach, TerraPay shall be prepared to demonstrate and report, as required by the regulatory agency created under the applicable law, that it has taken all necessary measures and has implemented security control measures in accordance with the documented information security policies.


    10. How long do we retain your information?

    At TerraPay, we retain the personal information as required or permitted by law. In all cases, TerraPay only retains the Personal Information for as long as it is necessary for the purposes described in this Privacy

    Notice and to be aligned with TerraPay’s data retention obligations. When determining the appropriate retention periods, we will consider different factors such as:

    • our contractual obligations and rights
    • our legal obligations
    • statute of limitations under applicable law
    • potential disputes
    • guidelines issued by relevant data protection authorities, and TerraPay’s legitimate business interests
    • the type of products and services requested by or provided to you
    • the nature and length of our relationship with you
    • possible re-enrolment with our products or services and
    • the impact on the services we provide to you if we delete some data from or as per mandatory retention periods provided by applicable laws

    11. Your information is your right

    You have rights over your Personal Information. In summary, these are:

    • Right to know: You have the right to receive certain information about how your Personal Information is processed.
    • Right to access: You have the right to access and receive a copy of your Personal Information.
    • Right to rectify: You are the owner of your information and have the right to have inaccuracies related to your Personal Information corrected.
    • Right to portability: You have the right to ask us for a copy of your Personal Information that you have provided us to be sent to you in a digital/machine readable format or to be sent to a third party/service provider appointed by you.
    • Right to erase: You have the right to request deletion of your Personal Information in certain circumstances.

    You are also entitled to lodge a complaint with a regulatory authority in the jurisdiction where you live or work or where you consider TerraPay is processing your Personal Information unlawfully. We would, however, appreciate the chance to deal with your concerns before you approach the regulator, so please do contact us in the first instance. We will respond to your request within the timelines defined by the regulator in your region. For more information on your rights, please contact us using the details below.


    12. Additional information for:

    a) Data subjects in EU / EEA

    In connection with providing services to our customers, we may transfer your Personal Information to destinations outside of the European Economic Area (“EEA”). When transferring Personal Information outside the EEA, TerraPay tries to ensure that security measures and appropriate safeguards are put in place to protect the Personal Information.

    In addition to the rights mentioned above, EEA data subjects also have other rights including:

    • Right to restrict: The right to restrict or limit the way we process your Personal Information in certain circumstances.
    • Right to object: You also have the right to object to TerraPay’s data processing activities including automated processing, data profiling etc.

    b) Data Subjects residing in India: Cross Border Information Transfers:

    Sensitive Personal Information such as financial information, will only be transferred outside India when:

    • Explicit consent is given by the data subject;
    • Transfer is made pursuant to a contract or intra-group scheme;
    • Central Government, after consulting the Data Protection Authority has allowed transfer to a country.
    • The Data Protection Authority has allowed transfer of Sensitive Personal Information when it is necessary for a specific purpose.

    c) Data Subjects residing in Kenya Cross Border Information Transfers:

    Personal Information transfers outside Kenya will only take place when Terrapay ensures:

    • Existence of appropriate safeguards with respect to security and protection of personal information
    • Existence of appropriate safeguards including jurisdictions with commensurate data protection laws.

    13. Changes to this Privacy Notice

    We review and update our Privacy Notice from time to time. Therefore, we encourage you to periodically review this page to stay updated.


    14. Contact us

    If you wish to exercise any of your rights, or if you want to know about how we use or protect your information or if you have any queries about this Privacy Notice, please contact us at legal@terrapay.com

    You can also contact us at:

    TerraPay Holdings Limited
    The Hague, Spaces Rode Olifant, Zuid Hollandlaan 7, 2596 AI, The Hague

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