We,Aye Finance Private Limited(“Aye Finance”, “We”, “Us”, “Our”) are the owners and operators of the website https://ayefin.com/ (the “Website”) and SwitchPe (“App”) a mobile based application together referred to as the Platform (the “Platform”). This Platform showcases our services offerings and facilitates Financial Solutions all across India. (“Services”).
1. HOW DOES SWITCHPE PRIVACY STATEMENT WORK?
The purpose of this Policy is to give you information on how the Platform collects, stores, uses, discloses, transfers and processes your Personal Information including Sensitive Personal Information (defined below) when: (a) you use our Platform, or (b) you avail any products or services which we may operate or offer to you through our Platforms; including the steps we take to protect your Personal Information. By accessing the Platform and/or using products or services provided by us directly or indirectly, you agree that you have read and understood, and agree to be bound by this Policy. By using the Platform, and/or having used the products or services offered by SwitchPe directly or indirectly, in the past, present, or future, you expressly consent to our use and disclosure of your Personal Information and Sensitive Personal Information submitted to us in accordance with this Policy. You further acknowledge and accept that your consent herein shall also be applicable to your Personal Information and Sensitive Personal Information submitted to us, directly or indirectly, in the past.
If you do not agree to this Policy, you may withdraw your consent or alternatively choose not to provide us with any Personal Information and not access the Platform or avail the Services. Such an intimation to withdraw your consent can be provided by email to communication details mentioned below.
2. WHAT IS PERSONAL INFORMATION AND WHAT TYPES OF PERSONAL INFORMATION DO WE COLLECT ABOUT YOU?
“Personal information” means any information that relates to an individual, which directly or indirectly, in combination with other information available or likely to be available with us, is capable of identifying such individual. “Sensitive Personal Information” means any Personal Information of an individual, which consists of information relating to financial information such as bank account, credit card, debit card or other payment instrument details; passwords; biometric information; sexual orientation; physical, physiological and mental health condition; and medical records and history. Information freely available or accessible in public domain as Sensitive Personal Information. Depending on who you are (e.g., a merchant, customer, cardholder, consumer, supplier, or business partner) and how you interact with us (e.g., through Website, Platform, App, telephone, IVR, API, online or offline), we may collect, use, receive, store, analyze, combine, transfer or otherwise process different categories of your Personal Information (including Sensitive Personal Information). Below is a table of the categories of Personal Information and Sensitive Personal Information which we may collect about you:
|Categories of Personal Information||Which includes information such as:|
|Identity and Account Log- In Information”||Full name(s), title, age, user ID, gender, and your date of birth.|
|“Contact Information”||Telephone/mobile number(s), permanent and current address, state/city of residence, country, pin code, email address, and chosen billing address.|
|“Financial Information”||Personal bank account numbers and bank account data including e-nach, NEFT, IMPS and UPI ID details, credit or debit card information, including the credit or debit card number, card type, expiry date on the credit or debit card, and name on the card, salary and income details.|
|“Identification Information”||Know Your Customer (KYC) documents including all proofs of identity and address, photograph, Permanent Account Number (PAN), GST Number, C-KYC number etc.|
|“Payment Information” (transactional information)||Payment gateway ID, name of issuing bank, merchant’s name, category, and other identifiers along with the details of products or services purchased or paid for, mode of payment, the date, currency and amount of the transaction, whether the payment was successful, and other information provided by you directly or indirectly to us or provided to us by banks, merchants or other service providers or business partners.|
|“Usage and Technical Information”||IP addresses, application, device or browser type, versions and configurations, operating systems, device brand and model, time zone setting, geo-location information, content, unique identifiers associated with your device(s) and pages that you access on the Website(s), Apps or Platforms, and the dates and times that you visit the Website, App or Platform, and paths taken.|
|“Credit and Lending Information”||Credit or affluence related information or assessment, Credit information (and income information (e.g., employment contract, salary details, employer name, income tax returns, bank account statements, income statements, balance sheet, cashflow statement), credit or affluence score or reliability scores provided by third parties such as financial institutions or account aggregators or similar third parties as permitted under applicable laws of India including our business partners, independent service providers and our group entities.|
|“Marketing and Communications Information”||Communications with customer service support, behavioural data (for example, data collected using cookies), information about promotions, surveys, promotional campaigns, and records of your decision(s) to subscribe or to withdraw from receiving marketing materials, if any.|
|“Information in your device(s)”||We may also access your contact list, call records, SMS, media files and location data in your devices for various purposes after seeking necessary permissions.|
We may also collect, use and/or share non-Personal Information or anonymized data such as statistical or demographic data in accordance with this Policy. As a matter of principle, we do not collect certain special categories of Personal Information about you (such as details about your race or ethnicity, religious or philosophical beliefs, sex life, sexual orientation, political opinions, trade union membership, information about your health or any genetic and biometric information). However, we may collect certain Sensitive Personal Information in order to provide our services or products to you, such as some categories of Financial Information including bank account number, name and number on the credit or debit card and your Credit and Lending Information as described above. In such cases, we ensure that such Sensitive Personal Information is used, processed, stored and/or disclosed in accordance with this Policy and in compliance with applicable laws of India. To the extent the Platform include links to third-party websites, plug-ins, and applications (including cookies, tracking technologies and widgets by third party advertisers), it is important that you understand that by clicking on those links or enabling those connections, you may allow third parties to collect or share data about you. The Platform does not have oversight of these third-party websites, plug-ins and applications and we are not responsible for their processing or using of your Personal Information or Sensitive Personal Information. Any information collected by a third party in this manner is subject to that third party’s own data collection, use and disclosure policies and you must make yourselves conversant with those.
3. HOW DO WE COLLECT YOUR PERSONAL INFORMATION?
How we collect Personal Information (including Sensitive Personal Information) will depend on the following situations:
3.1. We may receive or collect it directly from you
We collect Personal Information (including Sensitive Personal Information) directly from you in different ways on the Platforms. For example, you give us your Personal Information (including Sensitive Personal Information) when you:
a. give us your Contact Information in the enquiry form so that we can contact you about our services and products;
b. conclude a contract or verify to us who you are (whether by email, phone or electronic verification);
c. provide your Personal Information (including Sensitive Personal Information) on the Apps, Websites, Platforms or the checkout pages in order to register for availing our services or for completing a transaction(s);
d. apply for our products or services directly with us or through our business partners (such as various third party websites, resellers or credit providers);
e. directly register with us for availing any products or services including initiating an account-based relationship with us;
f. are prompted to give us your Identity and Account Log- In Information, Contact Information, Financial Information, Identification Information, Credit Related Information and/or Payment Information on our App, Website or web-checkout /payment pages or via other similar channels to register or complete a transaction;
g. give us your Credit and Lending Information to avail any loans or services directly from us, or from our business partners and third party service providers;
h. enter a competition, promotion or survey or you consent to be provided with marketing materials to be sent to you;
i. send us a support request for any of our products or services through one or more of our support desks; or
j. access, use and/or browse our Website(s), Apps or Platforms;
k. give us permission to collect the same from your device and other sources available through various means including cookies.
l. Email address for subscriptions/ newsletters (if any)
3.2. We may collect it from third parties, or from publicly available sources
We may obtain Personal Information (including Sensitive Personal Information) through third parties including our business partners, independent service providers and our group entities, third parties or from publicly available sources, if publicly available, as permitted under applicable laws of India, including:
a. from various merchants, marketplaces, re-sellers, banks, payment partners, payment aggregators, payments systems, payment service providers and financial institutions. For example, a merchant can share your Personal Information with us for the purpose of doing an eligibility check for our services.
b. from group entities or independent third parties for other activities. For example, we may receive information as may be required for our internal analysis, credit checks etc. from our affiliates for providing services to you. We may also receive your information from various third parties in the process of providing services to such third parties;
c. from social platforms and networks when you give us permission to do so either directly or through a cookie. For example, depending on your social media settings, if you choose or consent to connect your social media account to a SwitchPe product or do not disable cookies while accessing the Website(s), Platform or an App, certain information from your social media account may be shared with us (which may include information that is part of your profile);
d. from financial institutions, and fraud prevention agencies for the purposes of conducting fraud and risk assessments or analysis. For example, before we provide or enable the provision of any services, goods or finances to you (as applicable), we may undertake checks for the purposes of preventing fraud and money laundering, and to verify your identity. These checks require us to collect information about you from our business partners and independent service providers including technology providers who have entered into contracts with us;
e. from third party service providers or technology providers, including service providers engaged in the business of collecting data from publicly available sources, who have entered into contracts with us to assist us with our business operations;
f. from third parties such as merchants or e-commerce platforms who have either entered into a contract with you or have obtained your consent or through any other legal means as may be available in accordance with applicable laws of India, to share your information with other parties;
g. from publicly available sources in accordance with applicable laws of India;
During the use of the Platform, Aye Finance may collect and process such information from the customers, including but not limited to the below mentioned: Information that the Customers provide to Aye Finance by filling in forms on the Website/app/ in any other mode. This includes contact information such as name, email address, phone number etc. Information that the Customers provide when the Customers write directly to Aye Finance (including by way of e-mail); Information that the Customers provide to Aye Finance over telephone. Aye Finance may make and keep a record of the information shared by the Customers with Aye Finance; Information that the Customers provide to Aye Finance by completing surveys;
4. WHAT ARE THE LAWFUL GROUNDS THAT WE RELY ON TO PROCESS YOUR SENSITIVE PERSONAL INFORMATION?
We process Sensitive Personal Information only when we have obtained your consent in manner provided hereinunder. For collecting, processing (including using and storing), disclosing or sharing your Sensitive Personal Information as described in this Policy, we hereby through this Policy, seek your consent and give you a notice regarding collecting, processing (including using and storing), and sharing your Sensitive Personal Information for one or more of the purposes as per this Policy. For any purposes, where, as per applicable laws of India, a specific consent is required, we will seek such specific consent from you from time to time. In relation to information obtained from third parties or group entities, we rely on the consent taken by these parties on their respective platforms in our favour for us to process the information. You may, of course, decline to share certain information with us, in which case we may not be able to provide to you some or all of the services, features and functionalities of the Platform. This may also affect our ability to process your Personal Information (including Sensitive Personal Information) and may therefore lead to the non-availability or discontinuation of the services for which such Personal Information (including Sensitive Personal Information) are to be used or was being used, at our sole discretion.
5. THE PURPOSES FOR WHICH WE PROCESS YOUR PERSONAL INFORMATION
We process your Personal Information (including Sensitive Personal Information) for the purposes mentioned below:
5.1. To verify, authenticate and authorize your use of our products or services
We process your Personal Information (including Sensitive Personal Information) for creating login credentials or establishing an account-based relationship, doing KYC evaluation and risk assessments in order to authenticate and authorize your use of our products or services depending on if you are a merchant, consumer, borrower, service provider or business partner, and your choice of services or products. The type of Personal Information (including Sensitive Personal Information) typically required is Identification Information, Identity, and Account Log-In Information, Contact Information and Financial Information. This is necessary in order for Us to assess your application and is also necessary to fulfil our legal obligations under certain applicable laws of India.
5.2. To provide products and services to you and to process the transactions
We also process your Personal Information (including Sensitive Personal Information) in order to provide you products or services being offered by us, our group companies or our business partners. We may also process your Personal Information (including Sensitive Personal Information) for improving and expediting your journey on the Platform.
5.3. To do internal risk assessments and analysis
We may process your Personal Information (including Sensitive Personal Information) for the purposes of risk assessments and evaluations including or KYC checks, to improve our services, reduce fraud rates, build risk models, etc.
5.4. To generate variables, affluence and reliability scores
We process your Personal Information available with us to generate variables, assign scores and use the same internally for the purpose of enabling such entities to market and provide other goods and services to you. We may also share such analysis with our business partners who may rely on the same to make decisions regarding whether to offer their products or services to you. Such analysis as described above does not usually utilise any Sensitive Personal Information about you and mostly your Personal Information is used for these purposes.
5.5. To protect our business and to ensure compliance with the law
We process your Personal Information (including Sensitive Personal Information) to meet the requirements of applicable laws, regulations, standards, rules, codes, and the requirements as may be applicable on non-banking financial institutions and other codes with which Aye Finance must comply. This includes:
a. authenticating and validating your access to your account or to mitigate and protect against identity theft or fraud. To do this, some of your Personal Information (including Sensitive Personal Information) and non-Personal Information may be collected by us or these may be directly or indirectly delivered to us by merchants, group companies or other business partners of Aye Finance. We will use this Personal Information (including Sensitive Personal Information) for the purpose of anti-fraud systems and this may be retained by us for our future use for reference and cross-reference of information;
b. verifying your identity and comparing your Personal Information (including Sensitive Personal Information) to verify accuracy for reporting obligations under applicable laws or payment scheme rules or KYC norms;
c. processing your information for the purpose of ensuring compliance under applicable laws and for resolving or contesting any claims made by or against you against Aye Finance Entities, our group companies, our business partners or any other third party;
d. processing or using your Personal Information (including Sensitive Personal Information) if you exert your right of refusal for any of our services or any services provided by Aye Finance, our group companies, our business partners or any other third party; and
e. processing (including storing or using) your Personal Information (including Sensitive Personal Information) to ensure business continuity of our businesses and appropriate disaster recovery for the Websites, Apps, Platforms, services, and products.
5.6. To manage our relationship with you
If you contact us or otherwise give us your Contact Information (for example by registering, by completing an enquiry form on the Platforms, or we may contact you through calls, IVR, emails, text messages including social media platforms like WhatsApp, or by subscribing to receipt of support and service status communications from us regarding security or fraud monitoring alerts), we process your Personal Information (including Sensitive Personal Information):
a. to inform you about our products or services and any changes to these products or services and any associated legal documents;
b. to notify you if there is any interruption of services or products;
c. to ask you to provide information on how we can improve or develop services or products and to otherwise effectively communicate with you;
d. to provide you with service assistance and problem solutions or to contact or send you notifications related to the services or products we offer to you;
e. to use your Personal Information (including Sensitive Personal Information) in transactional or fraud monitoring reports (or both) as part of the performance of our contracts with Aye Finance, our group companies, our business partners or any other third party and to comply with any regulatory obligations. You have the option to unsubscribe from such reports in accordance with the terms of our contract.
5.7. To market our products and services including products and services of our business partners
We use your Personal Information to market our products and services including products and services of our business partners, independent service providers and /or our group entities and to notify you about events, offers, sponsorships, marketing programmes and similar marketing campaigns. We may also process and analyse your Personal Information (including Sensitive Personal Information) to understand your usage trends and preferences, and to develop and market (either ourselves or through Aye Finance Entities, our group companies, our business partners or any other third parties) new products, services, features and functions to you based on such analysis of your Personal Information (including Sensitive Personal Information).
5.8. To conduct research and to develop and improve our products and services
We use Personal Information (including Sensitive Personal Information) that we collect:
a. to research and gain insights into market trends and needs and to develop or innovate our technologies, products and services to meet such market trends and needs. We may use machine learning and artificial intelligence techniques to conduct research to gain such insights;
b. to analyze visitor use of the Websites, Apps, Platform, products or services in accordance with this Policy;
c. to improve and personalize our merchant and customer relationships; and
d. to provide merchants with statistical insights and reports based on your information we receive from them.
6. WHEN AND TO WHOM DO WE DISCLOSE YOUR PERSONAL INFORMATION?
6.1. We may share your Personal Information (including Sensitive Personal Information) with Aye Finance affiliates. We may disclose your Personal Information (including Sensitive Personal Information) to Aye Finance to:
a. provide support services and technical services to us to receive some of these services from them;
c. to offer their products and services to you including offering combined products and services.
6.2. We may share your Personal Information (including Sensitive Personal Information) with external third parties such as:
a. Other third parties and financial institutions for the purpose of enabling such entities to market and offer their products and services to you. We may also share your Personal Information (including Sensitive Personal Information) with such third parties and financial institutions to assist them in understanding your interests, habits, and usage patterns for certain programs, content, services, advertisements, promotions and such third parties and financial institutions may market and offer their products and services to you based on this.
b. merchants to in accordance with our service agreements (also referred to as our terms and conditions or contracts) whether directly or through a third party such as a payment aggregator or a referral partner.
c. authorized financial institutions and banking partners; with whom we partner to jointly create and offer products and services.
d. service providers or vendors under contract who assist us with our business operations.
e. companies that we plan to merge with or entities that we may acquire or be acquired by subject to the provisions of applicable laws, in which situation we will require that the new combined entity or the acquired/ acquiring entity follows this Policy with respect to your Personal Information.
f. when required by law enforcement, government officials, fraud detection agencies, financial institutions or other third parties and when we are compelled to do so under applicable laws (such as via a subpoena, court order, regulatory query or similar procedure).
g. international entities we partner with for the offer and/or development of products and services subject to the requirements under this Policy and applicable laws. We ensure that every third party that is involved in the processing of your Personal Information (including Sensitive Personal Information) under a contract with us has the required organizational and technical protections in place as may be required in accordance with applicable laws in India.
7. SECURITY OF INFORMATION
Aye Finance takes the security of its customer’s information very seriously. We protect the customer’s information using 128 bit-encryption and a Secure Sockets Layer (SSL) protocol. This creates an encrypted connection between the customer’s browser and Aye Finance’s servers. All information remains encrypted at all times. All information provided to Aye Finance is stored on its secure servers. Aye Finance uses commercially reasonable safeguards to preserve the integrity and security of the Customers’ information against loss, theft, unauthorised access, disclosure, reproduction, use or amendment. The information that is collected from the Customers may be transferred to, and stored at, a destination inside or outside India. By submitting information on the Website/or though other physical or electronic form, the customers agree to this transfer, storing and/ or processing. Aye Finance will take such steps as it considers reasonably necessary to ensure that the customers’ information is treated securely and in accordance with the Policy. In using the Website, the Customers accept the inherent security implications of data transmission over the internet and the World Wide Web cannot always be guaranteed as completely secure. Therefore, the use of the Website will be at the own risk of the Customers. Aye Finance assumes no liability for any disclosure of information due to errors in transmission, unauthorised third-party access or other acts of third parties, or acts or omissions beyond its reasonable control. In the event Aye Finance becomes aware of any breach of the security of the Customers’ information, it will promptly notify the Customers and take appropriate action to the best of its ability to remedy such a breach.
In relation to the products and services provided by us or Aye Finance Entities or by third parties with whom we share your Personal Information and Sensitive Personal Information as per this Policy, you may receive marketing communications from us or such other Aye Finance Entities or third parties, by messages, or email or through other digital modes, on Platforms, Websites and Apps or such other platforms including social media platforms, or on such third party platforms Websites and Apps including social media platforms, if you have provided us your Personal Information or Sensitive Personal Information. We may market our own products or services including the products and services offered by Aye Finance Entities and the product and services being offered by third parties using such communication. The provision of such marketing activities shall be in accordance with applicable laws. For the marketing activities done by us, we execute contracts with our merchants, service providers, banks, Aye Finance Entities or other third parties. You are entitled to opt out from receiving such marketing communication by either clicking on opt-out link (if available) or un-subscribe by clicking the link provided (if available) or by writing to us at firstname.lastname@example.org. We may also use Marketing and Communications Information in order to improve and customize the content of our ads, promotions and advertising that may be of interest to you.
This Policy does not apply to any information other than information collected by Aye Finance through the Website/app including such information collected in accordance with the clause on “Collection of Information” above. This Policy shall not apply to any unsolicited information provided by the Customers through this Platform or through any other means. This includes, but is not limited to, information posted to any public areas of the Platform. All such unsolicited information shall be deemed to be non-confidential, and Aye Finance shall be free to use, disclose such unsolicited information without limitation. Any customer aggrieved with the policy or its implementation or contents relating to information may approach the Grievance Officer for redressal of his grievance.
If the Customer wishes to introduce the Platform to any other person / entity, the Customers will be asked to provide such person / entity’s name and email address. We may send such person / entity an email inviting it or to visit the Website. We may store this information for the purpose of sending this email and keeping a record of the number of persons / entities so referred by the Customers. Aye Finance may send additional emails to the said person / entity in connection with services offered by Aye Finance. Such person / entity may contact us at the address / email ID provided below on grievance officer, to request that this information be removed from our database.
11. SOCIAL MEDIA HANDLES AND WIDGETS
You have the right to access your Personal Information in our possession, right to have us rectify or modify any such Personal Information, right to have us erase/delete your Personal Information, right to restrict us from processing such Personal Information, right to object to our use of your Personal Information, right to request to port your Personal Information, withdraw consent at any time where we are relying on consent to process your Personal Information, If you withdraw your consent, we may not be able to provide certain services to you. We may need to request specific information from you to help us confirm your identity or also contact you for further information in relation to your request. To exercise the above rights or withdraw your consent please email email@example.com
13. DATA RETENTION
Customers information will be retained for as long as the Customer’s account is active or as needed to provide services to the Customers. If the Customer wishes to cancel its account or requests Us to no longer use their information to provide services, the Customers may contact Us at firstname.lastname@example.org. We will retain and use Customers information as necessary to comply with its legal obligations, resolve disputes, and enforce its agreements or its data/document preservation policy or for other business purposes.
Aye Finance has made every effort to ensure that this Policy adheres with the applicable laws. The invalidity or unenforceability of any part of this Policy shall not prejudice or affect the validity or enforceability of the remainder of this Policy.
16. NO WAIVER
The rights and remedies available under this Policy may be exercised as often as necessary and are cumulative and not exclusive of rights or remedies provided by law. It may be waived only in writing. Delay in exercising or non-exercise of any such right or remedy does not constitute a waiver of that right or remedy, or any other right or remedy.
17. GOVERNING LAW
This Policy shall be governed by and construed in accordance with the laws of the Republic of India and subject to the provisions of arbitration set out herein, the courts at Delhi shall have exclusive jurisdiction in relation to any disputes arising out of or in connection with this Policy. If any dispute arises between Aye Finance and the Customers in connection with or arising out of the validity, interpretation, implementation, or alleged breach of any provision of the Policy, such dispute shall be referred to and finally resolved by arbitration in accordance with the Indian Arbitration and Conciliation Act, 1996 for the time being in force, which rules are deemed to be incorporated by reference in this clause. There shall be one (1) arbitrator and the seat of the arbitration shall be Delhi, India. The language of the arbitration proceedings and of all written decisions and correspondence relating to the arbitration shall be English.
18. Contact us:
In case of any grievance, Customers may write to Grievance Officer Mr. Mayank Mathur at email@example.com or Aye Finance 7th Floor, Unitech Commercial Tower 2, Sector 45, Gurugram 122 003, Haryana. We will respond to the Customer’s request within 30 working days