Introduction

Welcome to Payfam ("we," "us," or "our"). Payfam is a payment collection platform designed to empower small and medium-sized businesses (SMBs) by simplifying and streamlining payment processes. We are committed to safeguarding your personal information and respecting your privacy rights. This Privacy Policy outlines how we collect, use, and protect your personal information when you interact with our services. If you have any questions or concerns about this policy or our practices regarding your personal information, please feel free to reach out to us at compliance@techgenius.ng. By using our website (www.payfam.com.ng), mobile application, or any related services, including sales, marketing, or events (collectively referred to as the "Services"), you entrust us with your personal information. We take this responsibility seriously and have crafted this Privacy Policy to explain, in clear and transparent terms, what information we collect, how we use it, and the choices you have regarding your data. We encourage you to read this policy carefully, as it is an important part of your relationship with us. If you do not agree with any part of this Privacy Policy, we kindly ask that you refrain from using our Site or Services.

The Information We Collect About You

At Payfam, we collect various types of personal information to provide and improve our payment collection services for small and medium-sized businesses (SMBs). This information may come directly from you, from third parties or linked services, or through automated means. Below, we outline the categories of information we collect and how they are obtained:

Registration Information

When you sign up for Payfam or create an account, we collect personal details you provide, such as:

• Your name, email address, and phone number.
• Bank account details necessary for payment processing.
• Additional information like business details, gender, date of birth, username, and password.
• Optional details you choose to share, such as a profile picture.
• Detailed personal information, such as your date of birth, National identification number or bank verification number, if required by law.

Transaction Information

When you use our Services to process payments, request information, or contact us, we collect:

• Transaction details, including bank account information and other data needed to facilitate payments.
• Records of requests or transactions made through our website or mobile app. Payfam partners with third-party payment processors to handle transactions securely. Any payment information you submit may be collected and used by these partners in accordance with their own privacy policies.

Device Information

When you access Payfam’s website or Services, we may automatically collect:

• Internet activity data, such as your IP address, device type, operating system, and browser type.
• Inferences about your preferences based on cookies and site usage, which help us understand your interest in our Services.
• Location data and device identifiers, if you access our platform via a mobile device.

Third-Party Information

If you choose to share information about third parties with us, such as through referrals or payment-related communications, we may collect:

• Details you provide about third parties (e.g., their contact information), provided you have their authorization to share this data and have informed them of how Payfam collects and uses it.
• Information from linked third-party accounts or applications you integrate with Payfam (e.g., via APIs or other tools). By connecting these accounts, you authorize us to access and use this information in line with this Privacy Policy.
• Data from third-party service providers, such as credit bureaus or identity verification services, to ensure compliance and security.

Contact/Support Information

When you reach out to our customer support team or interact with us via phone, email, online forms, or other channels, we collect:

• • The information you provide during these interactions, which helps us address your inquiries or resolve issues effectively.

How We Use the Information We Collect

At Payfam, we use the information you provide (or allow us to access) to deliver, enhance, and secure our payment collection services for small and medium-sized businesses (SMBs). Below are the primary purposes for which we use your information:

• Account Security and Service Protection: We use your information to safeguard your account and maintain the integrity of our Services. This includes verifying identities, preventing fraud, abuse, or unauthorized access, and ensuring a secure experience for all users.
• Service Delivery and Improvement: Your information enables us to provide, personalize, and optimize our Services. This includes processing payments, improving platform functionality, and promoting Payfam to better meet your business needs.
• Legal and Regulatory Compliance: We use your information as required by applicable laws and regulations. This includes fulfilling obligations such as Know Your Customer (KYC) requirements, risk assessments, Anti-Money Laundering (AML) measures, anti-corruption policies, sanctions screening, and responding to requests from judicial processes, law enforcement, or government agencies.
• Marketing and Personalization: We may use your information to: (1) Send you tailored offers, promotions, or updates about Payfam’s products and services, as well as those from select third-party partners; (2) Customize your experience by personalizing content, features, and recommendations based on your preferences and usage .

Information We Share with Others

At Payfam, we value the trust you place in us when you share your personal information. To operate our payment collection platform effectively, we may share your information with certain parties, such as our affiliates, service providers, advisors, and trusted partners, as part of delivering and improving our Services. Unless explicitly stated in this Privacy Policy, we will not disclose your personal information to other companies without your express consent. Here’s how and why we may share your information:

• Service Operations: We share certain information with third parties, such as payment processors, to facilitate transactions and ensure a seamless experience on our platform.
• Compliance Requirements: We may share payment-related details with necessary third parties for identity verification, financial compliance, or to prepare for payment disbursements, as required by law or regulation.
• Marketing and Updates: If you opt in, we may use your information to send you product updates, offers, or promotions about Payfam or relevant third-party services. If you do not opt in, we will limit communications to essential service-related updates only.
• Service Enhancement: We may collaborate with trusted third parties to improve, promote, or protect our Services—for example, partnering with payment processors or using tools to manage advertisements on other platforms.
• Legal Obligations: We reserve the right to disclose your information when we believe it is necessary to comply with applicable laws, respond to law enforcement requests, prevent fraud or abuse, or protect the rights, property, or safety of Payfam, our employees, users, or others.

Information Not Shared Publicly

We are committed to keeping certain personal information private. The following details will not be publicly displayed or disclosed to other users:

• Registration Details: Your name, email address, and other account setup information.
• Payment Information: Bank account details or other payment data you provide.
• Password Details: Your account password or security credentials.
• IP Address: Technical data tied to your device’s internet connection.
• Phone Number: Contact information provided during registration or transactions.
• Identity Verification Data: Date of birth, identification documents, or other sensitive details (particularly for account creators), as required by law.
• Private Profile Information: Any preferences or details you choose to keep confidential.
• Communications with Us: Messages you send to Payfam, such as support requests, questions, comments, or problem reports.

Access to Your Information

You have the right to request access to the personal information Payfam holds about you. To do so, please contact us at compliance@techgenius.ng. We will provide you with access to your information unless we are legally permitted or required to withhold it.

If you need to update inaccurate or outdated personal information, or if you wish to request its deletion, please reach out to us at compliance@techgenius.ng. We will take all reasonable steps to process your request promptly. Should we be unable to fulfill your request to modify or delete your information—for example, due to legal obligations—we will inform you of the reason.

Storage and Security of Your Information

Payfam is dedicated to protecting the personal information you entrust to us. We take reasonable measures to ensure your data remains secure, accurate, and up to date. However, please be aware that no method of transmission over the internet is entirely secure. While we strive to safeguard your information, we cannot guarantee the security of data sent or received online and are not liable for breaches beyond our control.

To support our operations, we may store, process, or back up your information using facilities located outside your country. This may involve transferring your personal information to overseas servers. Regardless of where your data is held, our commitment to its security remains unchanged, and we will continue to apply robust safeguards to protect it.

For extra security, Payfam encrypts personal details like National Identification Numbers and Bank Verification Numbers. These ID numbers are only decrypted when requested for legal or verification purposes and are not casually visible to Payfam staff.

Changes to Our Privacy Policy

Payfam may update this Privacy Policy periodically to reflect changes in our practices, legal requirements, or services. The updated version will be marked with a revised date and will take effect as soon as it is made available on our website (www.payfam.com.ng). We will notify you of significant changes by prominently posting an announcement on our site or by sending you a direct notification, such as via email. We encourage you to review this Privacy Policy regularly to stay informed about how we collect, use, and protect your information.

Privacy Inquiries

If you have any questions, concerns, or feedback about this Privacy Policy or our data practices, we’re here to assist you. Please reach out to us at:

• Email: compliance@techgenius.ng