Privacy Policy
How we collect, use, and protect your personal information
Introduction
PayNest Technologies ("PayNest," "we," "our," or "us") is committed to protecting your privacy. This Privacy Policy explains how we collect, use, disclose, and safeguard your personal information when you use our Platform and Services.
This policy complies with the Nigeria Data Protection Regulation (NDPR) 2019, the NDPR Implementation Framework 2020, and other applicable Nigerian data protection laws.
✓ NDPR Compliance: PayNest is registered with the Nigeria Data Protection Commission (NDPC) and adheres to all NDPR requirements.
On This Page
Information We Collect
Personal Identification Information
- Full legal name
- Email address and phone number
- Date of birth and gender
- Home address, state of residence, nationality
KYC & Verification Information
- Bank Verification Number (BVN) and validation status
- Government-issued ID (type, number, expiry date)
- ID card images (front and back)
- Selfie with ID for facial verification
- Proof of address documents
Financial Information
- Bank account details (bank name, account number, account name)
- Transaction history and trading volume
- Gift card submission records
Technical & Device Information
- IP address, device type, operating system
- Browser type, device fingerprint
- Geolocation data, login timestamps
How We Use Your Information
Create accounts, process trades, verify identity, provide support.
Comply with CBN regulations, AML/CFT laws, report to NFIU.
Detect fraud, monitor suspicious activity, protect accounts.
Analyze usage, develop features, personalize experience.
For marketing communications, we always obtain your consent first. You may opt out at any time.
Data Security
We implement industry-standard security measures including:
- 256-bit SSL/TLS encryption for data in transit
- AES-256 encryption for sensitive data at rest
- Multi-factor authentication
- Regular security audits and penetration testing
- Firewalls and intrusion detection systems
Breach Notification
In the event of a data breach, we will notify affected users within 72 hours of discovery and report to NDPC as required by NDPR.
Data Retention
We retain your personal information for as long as necessary to:
- Provide our Services
- Comply with legal obligations (CBN requires 5+ years for financial records)
- Resolve disputes and enforce agreements
After the retention period, data is securely deleted or anonymized.
Your Data Protection Rights
Under NDPR, you have the following rights:
Request a copy of your personal data.
Correct inaccurate or incomplete data.
Request deletion, subject to legal retention.
Limit how we process your data.
Receive data in machine-readable format.
Object to marketing or legitimate interests.
To exercise these rights, contact our Data Protection Officer at dpo@paynest.ng.
Children's Privacy
Our Services are not intended for individuals under 18. We do not knowingly collect data from children.
International Data Transfers
Your information may be processed outside Nigeria with adequate safeguards per NDPR.
Changes to This Policy
Material changes will be communicated via email and/or Platform notification.
Contact Us
Data Protection Officer
PayNest Technologies
123 Marina Street, Lagos Island, Lagos, Nigeria
📞 +234 800 123 4567
NDPC Contact: www.ndpc.gov.ng