Privacy Policy

1. Introduction

Welcome to PayConnect. At PayConnect, headquartered in Puerto Rico, we are dedicated to safeguarding your personal and financial information. This Privacy Policy outlines our practices regarding the collection, use, disclosure, and protection of your data. By using our services, you consent to the data practices described in this policy. We are committed to complying with applicable privacy laws and regulations to ensure the highest standards of data protection.

2. Information We Collect

2.1 Personal Information

We collect various types of personal information necessary to provide our financial services:

• Identification Information: Includes full name, date of birth, Social Security number or tax identification number, and other identifiers.
• Contact Information: Includes residential address, phone number, and email address.
• Financial Information: Includes bank account details, credit card numbers, income information, and other financial data relevant to processing transactions and providing financial services.

2.2 Transaction Data

We gather detailed information about your interactions with our services:

• Loan Transactions: Details of personal and business loans, including loan amounts, terms, dates, and payment histories.
• Card Transactions: Records of transactions made using prepaid, debit, and credit cards, including purchase amounts, dates, and merchant details.
• Bank Account Activity: Information related to deposits, withdrawals, transfers, and account balances.

2.3 Technical Data

We collect technical data to enhance the performance and security of our services:

• Device Information: IP addresses, device types, operating systems, and browser types.
• Usage Data: Information about your visits to our website and interactions with our services, including pages viewed, links clicked, and the duration of visits.

2.4 Marketing Data

We may collect data related to your preferences and interactions with our marketing efforts:

• Marketing Preferences: Information on your preferences for receiving marketing communications and promotional offers.
• Engagement Data: Data on your response to marketing campaigns, such as email open rates and click-through rates.

3. How We Use Your Information

3.1 Service Provision

We use your information to effectively deliver and manage our financial services:

• Transaction Processing: To process and manage personal and business loans, card transactions, and bank account operations.
• Account Management: To facilitate account openings, maintain records, and handle customer service requests.

3.2 Communication

We utilize your contact information for various communication purposes:

• Service Updates: To inform you about changes to our services, important notices, and updates.
• Customer Support: To respond to your inquiries, resolve issues, and provide assistance as needed.

3.3 Improvement and Analytics

We use your data to enhance our services and overall user experience:

• Service Improvement: To analyze usage patterns, identify areas for improvement, and optimize our offerings.
• Market Research: To understand market trends and customer needs, helping us tailor our products and services.

4. Data Sharing and Disclosure

4.1 Third-Party Service Providers

We may share your information with trusted third-party providers who assist us in delivering our services:

• Payment Processors: To handle transactions and process payments securely.
• Data Storage Providers: To store and manage your data securely.
• Technical Support: To provide maintenance, support, and operational assistance.

4.2 Legal and Regulatory Requirements

We may disclose your information as required by law or legal proceedings:

• Compliance with Legal Obligations: To comply with laws, regulations, and legal processes.
• Protection of Rights and Safety: To protect our rights, safety, and property, as well as that of our users or others.

4.3 Business Transactions

In the event of significant business changes, such as mergers or acquisitions:

• Business Transfers: Your information may be transferred as part of the assets in a merger, acquisition, or sale of assets.
• Due Diligence: During business evaluations and negotiations, your information may be shared with potential buyers or partners.

5. Data Security

We employ comprehensive security measures to protect your data:

• Technical Measures: Utilization of encryption, firewalls, and secure servers to guard against unauthorized access and data breaches.
• Organizational Measures: Implementation of access controls, regular security audits, and employee training to ensure data protection.
• Incident Response: Established protocols for detecting, managing, and mitigating security incidents and breaches.

Despite our rigorous security measures, no system is completely impervious to risks. We continuously review and update our practices to address evolving threats and maintain robust data protection.

6. Your Rights

6.1 Access and Correction

You have the right to access and correct your personal information:

• Access Requests: You may request access to the personal data we hold about you.
• Correction Requests: You can request corrections or updates to any inaccurate or incomplete information.

6.2 Data Retention and Deletion

We retain your data only for as long as necessary:

• Retention Periods: We keep your data in accordance with legal requirements and our business needs.
• Data Deletion: You can request the deletion of your data, subject to any legal or contractual obligations we may have.

7. Cookies and Tracking Technologies

We use cookies and similar technologies to enhance your online experience:

• Cookies: Small files placed on your device to remember your preferences and improve functionality.
• Tracking Technologies: Tools used to gather data on your interactions with our website and services to provide a personalized experience.

You can manage your cookie preferences through your browser settings. However, disabling cookies may affect the functionality of certain features on our website.

8. Changes to This Policy

We may update this Privacy Policy to reflect changes in our practices or legal requirements:

• Notification of Changes: We will notify you of significant changes through our website or other communication channels.
• Effective Date: The updated policy will be effective from the date it is posted.

We encourage you to periodically review this policy to stay informed about how we are protecting your data.