iomoney

This Privacy Policy (Policy) together with our Terms of Use and Loan Account Agreement as set out at https://www.iomoney.page and any additional terms of use applies to your use of:

I/O Money mobile application software (App) available on our site OR hosted on the Google Play Store (App Site), once you have downloaded or streamed a copy of the App onto your mobile telephone or handheld device (Device).

Any of the services accessible through the App (Services) or those available on the App Site or other sites of ours or other third-party Sites (Service Sites).

About Products & Fees:

Loan amount: ₦3,000 - ₦50,000

Loan term: the shortest is 91 days, the longest is 365 days

Daily interest rate: 0.0057%

Maximum annual interest rate APR: 20.55%

Calculating the number is very easy. For example, if you choose a 12-month 10,000 loan principal, we

will show the details below:

Installment plan: 12.

Principal: 10,000.

Amount of expenditure: ₦99,63.002. Amount of expenditure = principal - GST - expenses ₦10,000 - ₦369.98 - 0 = ₦99,630.02.

PMT (monthly payment amount): ₦1004.6. PMT = ₦10000 x (1 + 20. 55%)/ 12 = ₦1004.6.

Cost:₦O.

Total interest: ₦2055.

Total amount: ₦12055. Total amount = principal + Total interest = ₦12055.

Total interest rate: 20.55%. Total interest rate = total interest / principal * 100% =, ₦12,055 / ₦10,000 * 100% = 20.55%.

Monthly interest: 1.71%. Monthly interest = total interest rate / installment = 20.55% / 12 = 1.71%.

This Policy sets out the basis on which any personal data we collect from you, or that you provide to us, will be processed by us.

Please read the following carefully to understand our views and practices regarding your personal data and how we will treat it. By downloading the App, you confirm that you have read, understood and accept the terms of this Policy set out hereunder. You also consent to the collection, use, storage, processing and disclosure of your personal information in the manner set out in this Policy.

1.COLLECTION OF INFORMATION

You may scroll through our Website and generally view the contents of the Website without providing us any personal information. In such a case, We will place a Cookie on Your computer that will help us identity You should You decide to visit us again.

During Your use of the Platform, whether the App or the Website, We will collect certain NON-PERSONAL AND PERSONAL information from You.

a.The Non-Personal Information:When You visit our Website, we typically collect the IP address of the device you use to connect to the internet, information such as what browser, browser version, operating system you have, the website you came from or the advertisement you viewed or clicked on. We also collect non-personal information on our Website and from third parties to provide an online experience that matches Your requirements.

b.The Personal Information: Is collected by Us after You explicitly provide us consent or is shared by You with Us pursuant to a clear disclosure - such as name, address, phone number, and email address.

We will collect your personal information when you:

i.Register on our Website or App through Your Facebook or LinkedIn account; and/or

ii.Applying for a loan product or facility through our Platform.

Information that You provide to Us:

a.Social Media:We also collect information and data through Facebook or LinkedIn or other social media accounts of the Users which have been linked to the account on the Website / App. We may receive Your Personal Information from such social media websites/ applications, in accordance with the privacy policy of such sites/applications. Such information received from the other websites/platforms/applications at the time of accessing the Website / App may include, and not be limited to, the user name, profile picture, e-mail address associated with that particular website/ application, any information that has been made public in connection with that website/ application belonging to You and/ or any information or content the social media website/ application has the right to share with Us. By accessing or connecting to the Website / App / Platform through a social media website/ application, You authorize Us to collect, store, use and retain such information and content in accordance with this Policy. This information provides your activities off BeeCool - including information about your device, websites you visit, purchases you make, the ads you see, how you use their services, and other data resembling.

b.Your name, address, date of birth, contact information, billing information, marital status, PAN number, name of the bank where You have a primary account, bank statements, pay slips, information relating to income and expenses obtained through bank SMS scraping and through integration with our service provider, etc.

c.Your Aadhar Number on behalf of the financial lending partners, at your sole discretion

d.Other information that You provide when You write directly to Us (including by e-mail) or provide Us over telephone or while filling out any applications on the Platform.

Information we collect from Your Device or a third Party:

We collect information from the device when you download and install the App andexplicitly seek permissions from YOU to get the required information from the device.The information we collect from your device includes the unique ID i.e. IMEI number, information on operating system, SDK version and mobile network information including carrier name, SIM Serial and SIM Slot, your profile information, list of installed apps, wi-fi information, storage, location.

We collect information about your device to provide automatic updates and additional security so that your account is not used in other people’s devices. In addition, the information provides us valuable feedback on your identity as a device holder as well as your device behavior, thereby allowing us to improve our services and provide an enhanced customized user experience to you.

The key information collected from the device is further detailed below:

i.MOBILE NUMBER ANO EMAIL ADDRESS

When you register with us, we collect your mobile number and email address and validate the some via OTP to uniquely authenticate and identify you and your loan applicotion, This helps us to ensure that no unauthorised device or person is acting on your behalf.

ii. DEVICE INFORMATION

Our app collects and monitors information about your device including your hardware model, operating system information, unique device identifiers like IMEI and serial numbers, Wi-Fi information, user profile information ond mobile network information to offer you customized services and also to uniquely identify the devices to ensure that unauthorized devices are not able to act on your behalf and to mitigate the fraud.

iii. Financial SMS

I/O Money require SMS access. We will only collect and store financial transaction SMS for the credit risk assessment.

When you use our APP to apply for loan, no personal text messages will be accessed, read or collected.

We will not share the collected SMS information with any third parties, nor will the SMS be used for anything unrelated to your loan application on this platform.

iv. LOCATION

I/O Money require location access, We collect and monitor the information about the location of your device to provide serviceability of your loan application, to reduce risk associated with your loan application and to provide pre-approved customised loan offers. This also helps us to verify the address, make a better credit risk decision and expedite your KYC process.

v. INSTALLED APPLICATIONS

I/O Money will upload and transmit your application list data including application name package name, installed time, updated time, version name and version code from your phone to https://www.iomoney.page. The uploaded and transmitted data will be used to manage risks and conduct anti-fraud checks. While using the App, it periodically sends app list data to our server. I/O Money will never share data to the third party without your permission. The collection will only be done if you agree to the authorization.

vi.CAMERA

I/O Money require camera access so that you can easily scan or capture required KYC documents and save time by allowing us to auto-fill relevant data or to initiate an audio/video call for KYC purpose. This ensures that you are provided with a seamless experience while using the application.

vii. CONTACTS

I/O Money will upload and transmit your contact list data including name and phone number from your phone to https://www.iomoney.page. The uploaded and transmitted name and phone number will be used to manage risks and conduct anti-fraud checks. While using the App, it periodically sends contact list data to our server. I/O Money will never share data to the third party without your permission. The collection will only be done if you agree to the authorization.

viii. STORAGE

I/O Money require storage permission so that your KYC and other relevant documents can be securely downloaded and saved on your phone. You can then easily upload the right KYC related documents for faster loan application details filling and disbursal process. This ensures that you are provided with a seamless experience while using the application.

From Third Parties

We also collect your credit reports and credit data on your behalf or on behalf of our financial partner in the event you have applied for a loan / facility to the said financial partner. In this regard, You:

i.Authorize Us, to request and receive Your credit score / report from credit information companies, now and on a periodic basis, at its discretion until such time You communicate in writing to Us to discontinue such requests.

ii.further fully understand that the purpose of this credit score / report is to enable Us to make informed lending decisions effectively and enable faster processing of credit applications to help provide speedier access to credit through our Platform.

iii.also understand that We may apply for the credit score / report either ourselves directly or through any of their partner tie ups who are members of credit information companies, and fully authorize Us to share my details with such partner.

Other Information:

i.Information from You electronically - like the pages viewed, how You navigate through the Website / Platform and interact with webpages, etc.

ii.Any other information that BeeCool is required to collect as per specific mandate from any financial lending partners or as a requirement under applicable law;

iii. Cookies: Cookies are small data files that a Website / App stores on Your computer. We will use cookies on our Website / App similar to other lending websites / apps and online marketplace websites / apps. Use of this information helps Us identify You in order to make our Platform more user friendly. We might also use this information to display advertising from third party companies. Most browsers will permit You to decline cookies but if You choose to do this it might affect service on some parts of Our Website.

iv.We might also use other technology to track how You interact with Platform and employ some third-party agencies to use the data on Our behalf.

The information We collect about You will depend on the products and services We offer or You avail, on an ongoing basis. The information collected from You will be used in order to effectively provide Services to You. If You do not allow Us to collect all the information We request on the Platform, We may not be able to deliver all of these services effectively.

2.PURPOSE, USE AND DISCLOSURE OF INFORMATION

We will use and retain Your information for such periods as necessary to provide You the services on our Platform, to comply with our legal obligations, to resolve disputes, and enforce our agreements with you or the financing partners who have advanced a loan to You

Use of Information:

We use data collected to support our Product, BeeCool, as a platform assists You to reach and select diversity of third-party financial partners, along with their products, and technically help you accomplish transaction with these third-party financial partners.

We may use the information provided by You in the following ways:

a.to establish identity and verify the same;

b.design and offer customized products and services offered by our third-party financial partners;

c.analyze how the Platform is used, diagnose service or technical problems and maintain security;

d.monitor, improve and administer our Platform;

e.conduct data analysis in order to improve the Services provided to the User;

f.send communications notifications, information regarding the products or services requested by You or process queries and applications that You have made on the Platform;

g.manage Our relationship with You and inform You about other products or services We think You might find of some use;

h.to conduct KYC for our third-party lending partners based on the information shared by the User for the provision of Services;

i.use the User information in order to comply with country laws and regulations;

j.use the User information in other ways permitted by law to enable You to take financial services from our lending partners.

Disclosure of Information:

We may share Your information with third parties including our regulated financial partners for provision of services on the Platform and/or for facilitation of a loan / facility to a User. We may also share Your information with third parties under a confidentiality agreement for provision of services which inter alia restricts such third parties from further disclosing the information unless such disclosure is for the purpose as detailed under that confidentiality agreement.

We will share Your information with third parties only in such manner as described below:

a.We may share Your information with our third-party partners in order to conduct data analysis in order to serve You better and provide Services on our Platform;

b.We may disclose Your information to the financial service providers, banks or NBFCs and Our third-party partners for providing the Services as detailed under the Terms & Conditions;

c.We may also share the data / information with our technology service providers to perform credit and know your customer checks to facilitate a loan for the User through regulated financial partner;

d.We may disclose Your information, without prior notice, if We are under a duty to do so in order to comply with any legal obligation or an order from the government and/or a statutory authority, or in order to enforce or apply Our terms of use or assign such information in the course of corporate divestitures, mergers, or to protect the rights, property, or safety of Us, Our users, or others. This includes exchanging information with other companies and organizations for the purposes of fraud protection and credit risk reduction.

e.We and our affiliates may share Your information with another business entity should we (or our assets) merge with, or be acquired by that business entity, or re-organization, amalgamation, restructuring of business for continuity of business.

3.THIRD PARTY WEBSITES

With this Policy We’re only addressing the disclosure and use of data collected by Us. If You visit any websites through the links on the BeeCool Platform, please ensure You go through the privacy policies of each of those websites. Their data collection practices and their policies might be different from this Policy and BeeCool does not have control over any of their policies neither does it have any liability in this regard.

4.STORAGE OF INFORMATION

You further understand and agree that disbursement of a loan or approval of a credit card by a financial partner does not automatically rescind the consents you have provided to us under the Privacy Policy nor does deletion of your account with the Platform. Any information provided to us is retained by Us until You have an account based / active relationship Us or with a financial partner.

We store and process Your personal information onsecure AWScloud servers and other cloud service providers within India. We use reasonable safeguards to preserve the integrity and security of Your information against loss, theft, unauthorized access, disclosure, reproduction, use or amendment. Some of the safeguards We use are firewalls and encryption using SSL, and information access authorization controls. To achieve the same, We use reasonable security practices and procedures as mandated under applicable laws for the protection of Your information. Information You provide to Us may be stored on Our secure servers located within or outside India.

However, You understand and accept that there’s no guarantee that data transmission over the Internet will be completely secure and that any information that You transmit to Us is at Your own risk. We assume no liability for any disclosure of information due to errors in transmission, unauthorized third party access to our Platform and data bases or other acts of third parties, or acts or omissions beyond Our reasonable control and You shall not be entitled to hold BeeCool responsible for any breach of security.

5.PHISHING

"Phishing" usually occurs when users of a website are induced by an individual/entity into divulging sensitive personal data by using fraudulent websites and/ or e-mail addresses. In the event You provide information to a website or respond to an e-mail which does not belong to Us or is not connected with Us in any manner, You will be a victim to Phishing. We do not send e-mails requesting a user for payment information, user name or passwords. However, We may verify the user name, password etc. provided by You from time to time.

6.NO WAIVER

The rights and remedies of 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.

7.SEVERABILITY AND EXCLUSION

We have taken every effort to ensure that this Policy adheres with the applicable laws.

This Policy shall be inapplicable to any unsolicited information You provide Us through the Platform or through any other means. This includes, but is not limited to, information posted in any public areas of the Website / App.

This Policy does not apply to any information other than the information collected by BeeCool through the Platform.

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.

All unsolicited information shall be deemed to be non-confidential and the Company shall be free to use and/ or disclose such unsolicited information without any limitations.

8.YOUR PRIVACY CONTROLS

You have certain choices regarding the information we collect and how it is used:

Device-level settings: Your device may have controls that determine what information we collect. For example, you can modify permissions on your Android device for access to Camera or Audio permissions.

Delete your entire App account.

You can also request to remove content from our servers based on applicable law or by writing to our Grievance Officer.

9.Data transfers

We maintain your information on servers located in India. Data protection laws vary among countries, with some providing more protection than others. We also comply with certain legal frameworks relating to the transfer of data as mentioned and required under the Information Technology Act, 2000.

When we receive formal written complaints, we respond by contacting the person who made the complaint. We work with the appropriate regulatory authorities, including local data protection authorities, to resolve any complaints regarding the transfer of your data that we cannot resolve with you directly.

10.Legal Age

We do not knowingly collect personally identifiable information from anyone under the age of 18. If you are a parent or guardian and you are aware that your child or children have provided us with personal data, please contact us at service@found1.net. If we become aware that we have collected personal data from children without verification of parental consent, we shall take steps to remove that information from our servers.

11.Links to Other Sites

The App may provide hypertext links to other sites operated by other people. Using such a link means you are leaving the App. We take no responsibility for, and gives no warranties, endorsements, guarantees or representations in respect of, linked sites. We are not responsible for the privacy practices, nor do we accept any liability in connection with the content of, such websites or applications, which will in some cases have their own privacy policies tailored for the particular business practices in which they operate. Any concerns regarding any external link should be directed to its website or app administrator.

12.Changes to the Policy

Any changes we may make to this Policy in the future will be posted on this page and, where appropriate, notified to you when you next start the App or log onto one of the Service Sites. The new terms may be displayed on-screen and you may be required to read and accept them to continue your use of the App or the Services. In any event, by continuing to use the App or any Services after the posting of any changes, you confirm your continuing acceptance of this Policy together with such changes, and your consent to the terms set out therein.

13.Contact Us