Collection and Use of Personal Information
You are not required to provide the personal information that we have requested, but, if you choose not to do so, in many cases we will not be able to provide you with our products or services or respond to any queries you may have.
Here are some examples of the types of personal information Digital Payments Company (loop) may collect and how we may use it:
What personal information we collect
When you create a Digital Payments Company (loop) business account, download our mobile application or contact us, we may collect a variety of information, including your name, mailing address, phone number, email address, bank account information, company information, civil ID, contact preferences, and credit card information.
How we use your personal information
- The personal information we collect allows us to keep you posted on Digital Payments Company's latest service announcements, updates, and upcoming events. If you don’t want to be on our mailing list, you can opt out anytime by updating your preferences.
- We also use personal information to help us create, develop, operate, deliver, and improve our products, services, content and advertising, and for loss prevention and anti-fraud purposes.
- We may also use personal information for internal purposes such as auditing, data analysis, and research to improve Digital Payments Company' products, services, and customer communications.
- If you enter a contest, or similar promotion we may use the information you provide to administer those programs.
- Digital Payments Company generally uses personal information for the purposes of completing the necessary KYC “Know You Customer” proceeding as may be required by various regulators in order to complete your transaction with Digital Payments Company.
This may include the following purposes:
- Authorizing and processing your transactions, including effecting and administering money transfers and ensuring proper payment to the designated recipient of funds.
- Collecting amounts owing to us, and otherwise enforcing and collecting on your accounts or agreements with us.
- Monitoring and improving our mobile app, website and its content.
- Sending you information about our products and services of your interest.
- 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 with your consent or as permitted or required by law.
Collection and Use of Non-Personal Information
We also collect data in a form that does not, on its own, permit direct association with any specific individual. We may collect, use, transfer, and disclose non-personal information for any purpose.
The following are some examples of non-personal information that we collect and how we may use it:
- We may collect information such as occupation, language, zip code, area code, referrer URL, location, and the time zone where a Digital Payments Company service is used so that we can better understand customer behavior and improve our products, services, and advertising.
- We may collect and store details of how you use our services, including search queries. This information may be used to improve the relevancy of results provided by our services. Except in limited instances to ensure quality of our services over the Internet, such information will not be associated with your IP address.
- If we do combine non-personal information with personal information the combined information will be treated as personal information for as long as it remains combined.
Cookies and Other Technologies
Digital Payments Company's website, online services, interactive applications, email messages, and advertisements may use “cookies” and other technologies such as pixel, tags and web beacons. These technologies help us better understand user behavior, tell us which parts of our websites people have visited, and facilitate and measure the effectiveness of advertisements and web searches.
Digital Payments Company shares personal information with companies who provide services such as information processing, extending credit, fulfilling customer orders, delivering products to you, managing and enhancing customer data, providing customer service, assessing your interest in our products and services, and conducting customer research or satisfaction surveys. These companies are obligated to protect your information.
It may be necessary − by laws, legal processes, litigations, and/or requests from public and governmental authorities within or outside your country of residence − for Digital Payments Company to disclose your personal information. We may also disclose information about you if we determine that for purposes of national security, law enforcement, or other issues of public importance, disclosure is necessary or appropriate. We may also disclose information about you if we determine that disclosure is reasonably necessary to enforce our terms and conditions or protect our operations or users.
Retention of Personal Information
Access to Personal Information
You can help ensure that your contact information and preferences are accurate, complete, and up to date by logging in to your account using the Loop Wallet mobile app. For other personal information we hold, we will provide you with access for any purpose including to request that we correct the data if it is inaccurate or delete the data if Digital Payments Company is not required to retain it by law or for legitimate business purposes. We may decline to process requests that are frivolous/vexatious, jeopardize the privacy of others, are extremely impractical, or for which access is not otherwise required by local law.
Third-Parties Sites and Services
Digital Payments Company's websites, applications, and services may contain links to third-party websites, products, and services. Our products and services may also use or offer products or services from third parties. Information collected by third parties, which may include such things as location data or contact details, is governed by their privacy practices. We encourage you to learn about the privacy practices of those third parties.