Privacy Policy for Factor Wallet
Last Updated: October 2024
Introduction
Factor Wallet ("we," "our," "us") is committed to protecting your privacy. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our services, in compliance with the General Data Protection Regulation (GDPR) and other relevant EU regulations.
- Legal Basis for Processing Personal Data
- GDPR Compliance (Articles 6 and 9): We process personal data based on the necessity for the performance of a contract, compliance with a legal obligation, consent, and legitimate interest.
- Information We Collect
- Personal Information: We collect personal details like name, email address, phone number, and financial information when you sign up for our services.
- Usage Data: Automatically collected information, such as IP address, browser type, and usage patterns, to help us improve our services.
- How We Use Your Information
- Service Provision (Article 6(b) GDPR): To operate, maintain, and provide you with the features and functionalities of Factor Wallet.
- Compliance (Article 6(c) GDPR): To comply with legal obligations, including KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements.
- Improvement (Article 6(f) GDPR): To enhance our services, conduct research, and analyze data.
- Sharing Your Information
- With Service Providers: We may share your information with third-party service providers, such as Paybis and Unlimit, to facilitate transactions and ensure secure payments.
- Legal Obligations: We may disclose your information to comply with legal obligations, protect our rights, and ensure safety and security.
- Your Rights Under GDPR
- Access (Article 15 GDPR): You have the right to access the personal information we hold about you.
- Rectification (Article 16 GDPR): You can request corrections to any inaccurate or incomplete information.
- Erasure (Article 17 GDPR): You have the right to request the deletion of your personal data under certain conditions.
- Restriction (Article 18 GDPR): You can request the restriction of processing your personal data.
- Data Portability (Article 20 GDPR): You can request to receive your data in a commonly used format.
- Security of Your Information
- Measures (Article 32 GDPR): We employ industry-standard measures like encryption, two-factor authentication, and regular security audits to protect your data.
- Payment Security: Transactions are handled securely through our trusted partners, Paybis and Unlimit, ensuring your financial information is protected.
- Updates to This Policy
- We may update this Privacy Policy from time to time. We will notify you of any changes by posting the new Privacy Policy on our website and updating the "Last Updated" date.
- Contact Us
- If you have any questions or concerns about this Privacy Policy or our data practices, please contact us at hello@factor-wallet.com
