PRIVACY POLICY
This Privacy Policy "(Privacy Policy)" describes Prayosha Technology And Solutions LLP. "(Myinvoice)", company incorporated. disclosure of a User’s information pursuant to your use of the Myinvoice Products, the Services and related Mobile Applications, Desktop Applications and/or Website, whether existing now or in future. Myinvoice is committed to ensuring that any use or sharing of your information with anyone shall be one only in accordance with the procedures described in this Privacy Policy.
The capitalized terms used in this Privacy Policy, but not defined in this Privacy Policy, shall have the meaning given to such terms in the Terms of Services (defined herein after).
Please read this Privacy Policy before using the Myinvoice Products or submitting any personal information. By using Myinvoice, it shall be deemed that the Users are expressly consenting to be bound by the terms and conditions described in this Privacy Policy. The User may revoke its consent for providing the sensitive information (as defined under Information Technology (Reasonable security practices and procedures and sensitive personal data or information) Rules, 2011) by reaching out to Myinvoice support in writing. Please note that Myinvoice may discontinue to provide services, which are depended or requires such sensitive information.
If you apply for or avail any of the lending/credit products offered through Reserve Bank of India- regulated entities/non-banking financial companies/banks via the Myinvoice Platform (enabled through mBillBook Credit feature), the mBB Credit Privacy Policy, as set out in the Supplemental Terms and appended to this Privacy Policy, shall apply to you. Therefore, we kindly request that you refer to the mBB Credit Privacy Policy before applying for or availing any lending/credit products.
Other applicable terms
This Privacy Policy is a part of and incorporated within, and is to be read along with the Terms of Service (the “Terms of Service”). The User may view these Terms of Service on any of our Myinvoice Products or at the following address https://Myinvoice.in/web/terms
Policy changes
Myinvoice may change and update this Privacy Policy from time to time. Such changes may be made without prior notice, but any changes will only apply to activities and information on going forward and not retroactive basis, unless specified otherwise. The User are encouraged to review this Privacy Policy before accessing the Myinvoice Products to make sure that the User understand how any personal information provided by the User will be used.
Links to other websites
The procedures and practices set forth in this Privacy Policy describe the use and disclosure of User Information collected through the Myinvoice Products. These Myinvoice Products may contain links to other websites. Any personal information about the User collected which such User visits such websites is not governed by this Privacy Policy. The User is encouraged to exercise caution and review the privacy policies applicable to such websites before accessing them. The User acknowledges that Myinvoice shall not be responsible for and has no control over the practices and content of any website accessed using the links contained on the Myinvoice Products.
Competency to contract
By agreeing to these Privacy Policy, a User (which such User is a natural Person) represents that the User is at least the age of majority i.e., 18 years, and is competent to contract. Additionally, where the User is registering on behalf of, and is the authorized representative of, a company, partnership or any other legal entity, such User has been duly authorized by such entity and is permitted under Applicable Laws to accept these Terms of Service. In case the User is a natural Person who is not of the age of majority or is not competent to contract, the User may not use the Myinvoice Products or provide any information to Myinvoice under the Myinvoice Products.
Collection of information
Towards the provision of the Services and in cases where a User visits or uses the Myinvoice Products, Myinvoice shall collect the following information from a User (“User Information”):
5.1.
Information given by the User: The User may be required to give us information (including sensitive personal information) about the User when creating or using an account on a Myinvoice Product, or when corresponding with Myinvoice by phone, e-mail or otherwise. The information you give us may include without limitation your name, photograph, postal address, e-mail address and phone number, details of any identification or address proof, details of any officially valid document, financial information, location details or other information required by Myinvoice to provide the Services and protect against any illegal activities. We may also require additional information about a User in compliance of or as required under Applicable Laws;
5.2.
Information collected about a User: With regard to a User’s use of any Myinvoice Product, Myinvoice may automatically collect and analyse technical information such as the IP address,login information, browser details, time zone setting, operating system and other similar information; or information about a User’s visit such as URL information, material or information viewed or searched by the User; page response times, download errors, length of visits to certain pages, page interaction information, methods used to browse away from the page, metadata such as location, date etc., and details of email address or phone number used to contact customer service; and
5.3.
Information we receive from other sources: Myinvoice may receive information about a User its other products and services used by the User or from third parties such as advertising networks, analytics providers, search information providers. Myinvoice may also collect non-personally identifiable information of Users.
Usage of User Information
User Information is used by Myinvoice and its partners and service providers towards various business purposes which, amongst others, includes:
to facilitate the User’s requests and the Services;
to undertake research and analytics for offering or improving Services, Myinvoice Products, their security and service quality;
to share with a User, updates on changes to Myinvoice’s services and their terms and conditions and provide details of similar products and services;
to aid strategic development, data collection and business analytics for Myinvoice or its partners;
to take up or investigate any complaints/claims/disputes;
to respond to your queries or feedback submitted by the User;
for conducting audits and for record keeping purposes;
for complying with Applicable Laws including the directions of any Governmental Authorities;
for selective offers and promotions; and
for providing a personalized experience and to enhance a User’s experience inrelation to the application or the website.
Storage of User Information
User Information in the possession and control of Myinvoice is stored in accordance with Applicable Laws. Storage and transfer of User Information is carried out in compliance with all Applicable Laws, including without limitation, the Information Technology Act, 2000 and the Information Technology (Reasonable security practices and procedures and sensitive personal data or information) Rules, 2011. By using any of the Myinvoice Products or Services, the User agrees and consents to the collection, storage and use of the User Information collected in the manner described in and in accordance with this Privacy Policy.
Dissemination of User Information
The User acknowledges the User Information and other data may be exported outside of India, processed and stored in a foreign country or countries where it may be accessed by other entities. User Information may also be transferred in accordance with Applicable Laws to Governmental Authorities, to affiliates of Myinvoice and any potential buyers of the shares or assets of Myinvoice. Myinvoice may also distribute User Information (not being in the nature of sensitive personal information) with other third parties, analytics providers and other third parties for provision of services to Myinvoice and/or the Users by such third parties.
Information security
Myinvoice takes various reasonable steps and measures to protect the User Information provided by a User from misuse, loss, unauthorised access, modification or disclosure. Myinvoice uses industry- standard secure server layers encryption and access control on its systems. and other reasonable security practices and procedures. Do note that while Myinvoice makes best possible efforts to securely store the User Information and data provided by a User, Myinvoice does not guarantee that there will be no unintended disclosures of the User Information and data provided by a User on account of a data breach, unauthorized access, security failure etc. Myinvoice cannot guarantee, give no warranties, and shall not be liable for breach of the security of User Information through the Myinvoice Products due to malicious attacks, errors, commission or omissions not wilfully initiated by Myinvoice and any transmission is at the risk of the User.
Retention of User Information
Myinvoice may, at its discretion, retain any User Information for as long as a User is active on theMyinvoice Products, as required under agreements with Myinvoice or as require under Applicable Laws. Myinvoice shall not be responsible for any destruction of any User Information after the closure or termination of a User’s account with Myinvoice.
Cookie policy
A “cookie” is a packet of information stored on a browser by a server so it can be later readback. To improve the responsiveness of the site or application for the Users, Myinvoice may use“cookies”, or similar electronic tools to collect information. Note that information and data provided by a User may be collected in a “cookie” if the User has previously provided such information and data.
Local storage policy
To facilitate the provision of services by Myinvoice to the User, Myinvoice may store information locally on the device of the User. The User consents to the local storage of information on the device of the User for the facilitation of the Services or provision of the Myinvoice products by Myinvoice.
Contact details
Updates to the Privacy Policy
Myinvoice reserves the right, at any time, to add to, change, update, or modify this Privacy Policy.The latest Privacy Policy will be available on this page.
SUPPLEMENTAL TERMS
MYBILLBOOK CREDIT PRIVACY POLICY
INTRODUCTION
This privacy policy (“mBB Credit Privacy Policy ”) is applicable to the Users who apply for or avail business loans or similar products (“Credit Products”) being offered by banks and, or Non-Banking Financial Companies / NBFCs (collectively the “Lenders”) through the mBB Credit feature enabled on Myinvoice.
In order to facilitate the provision of the Credit Products and other relevant services offered by the Lenders, we may need to collect certain data / information from the Users, subject to their consent. This mBB Credit Privacy Policy outlines how such User information is collected, retained, shared, and, or processed by us in connection with the Services (defined hereinafter).
This mBB Credit Privacy Policy incorporates and includes Myinvoice's Terms of Service. This mBB Credit Privacy Policy should always be read in conjunction with the Myinvoice’s Terms of Service. Any capitalized terms used in this mBB Credit Privacy Policy, but not defined herein, shall have the meaning ascribed to them under the Myinvoice’s Terms of Service.
Summary: The mBB Credit Privacy Policy applies to Users applying for or availing business loans or similar products from the Lenders that are facilitated through the mBB Credit feature on Myinvoice. User data is collected with their consent to facilitate the provision of Credit Products by the Lenders and other related / ancillary services. This mBB Credit Privacy Policy should be read alongside Myinvoice's Terms of Service.
CONSENT MECHANISM
1.1.
By applying for or availing any Credit Product or related services through our Mobile Application, Desktop Application or Website, you hereby expressly consent to Myinvoice and its authorized affiliates for collecting, maintaining, using, processing and disclosing your personal and business information, including Sensitive Personal Data or Information, as outlined in this mBB Credit Privacy Policy. In this regard, this consent applies to the collection, storage, retention, usage, processing, and disclosure of your information.
1.2.
When you apply for or avail any Credit Product or related services through Myinvoice, you acknowledge that Myinvoice will collect the information specified in this mBB Credit Privacy Policy to facilitate Credit Products and related services. In this capacity, Myinvoice acts as an outsourcing service provider for various Lenders, communicating your specific requirements for such services to the Lenders and vice versa ("Services").
1.3.
Please see Annexure - A, as appended to this Agreement, for access to the full list of Lenders. In the event you apply for or avail the Credit Products from the Lenders, in addition to the mBB Credit Privacy Policy, please note that you may be subject to their terms of service, privacy policies and other additional obligations including those in the loan documents provided by the Lenders.
Summary: By accepting this mBB Credit Privacy Policy, you allow Myinvoice to collect, process, and disclose your personal and business information, including sensitive data, for the purpose of providing Credit Products and, or in connection with the Services. Myinvoice acts as an outsourcing service provider for multiple lenders and communicates your credit related requirements to them. If you apply for or avail credit products from Lenders, you may also be subject to their terms, privacy policies, and additional obligations outlined in the loan documents or such other documents as may be prescribed by Lenders.
COLLECTION OF INFORMATION
2.1.
By applying for or availing any Credit Product(s) or any related Services through Myinvoice, you explicitly consent to authorise Myinvoice to collect the necessary information to provide you the Services in the best possible manner. The information you provide will be used by Lenders to evaluate and process your request for the Credit Products. Additionally, such information may be used to personalize the Credit Product(s) specifically for you. In such cases, Myinvoice may share the information (including your personal information and business information) in compliance with this mBB Credit Privacy Policy. The detailed manner in which information is collected by Myinvoice is as follows:
2.1.1
Personal Information, Business Information and Myinvoice Account Data: The personal and business information that Myinvoice collects from you include, inter alia, your name, phone number, email ID, PAN, business details, business PAN and GST registration details. Myinvoice collects such information provided by you while creating or updating your Myinvoice account. Further, Myinvoice may request additional information, including but not limited to details pertaining to your residential address and its ownership, your company’s GST registration certificate, bank statement, and yearly turnover, to enable the Lenders to confirm the veracity of information provided by you.
2.1.2
SMS Information, Device Information, and User Generated Information: Myinvoice collects, stores and monitors SMS information from your devices to enable Lenders to analyse your financial profile and evaluate your request for availing a Credit Product. When you install Myinvoice Products, we store the collected information with unique identifiers tied to your device. During the process of downloading and installing our Mobile Application or Desktop Application, we explicitly request your permissions to access necessary information from your device. We also gather information generated by you while using the Myinvoice Products and Services, such as filling in forms or corresponding with us through the Mobile Application or Desktop Application (e.g., via email or chat). This information is used to create your profile and provide you with the most suitable services available. Additionally, we collect your Log information (via the domain server through which you access the Myinvoice search queries, IP address, crashes, date etc.) for the purpose of improvising the Myinvoice Product’s functionality. This information is also shared with Lenders to assess your loan eligibility and offer you the best loan options / Credit Products in response to your loan or Credit Product request.
2.1.3
Technical and Non-Personal Information: When you access Myinvoice Products or Services, we may gather certain non-personally identifiable information related to you. This includes details such as the type of browser you are using, your preferences on the Mobile Application and Desktop Application, and general demographic information. This information is used for various purposes, including serving and customising advertisements, measuring the effectiveness of our promotional efforts, and enhancing your overall experience with the Myinvoice Products and Services. Please note that the information collected is not personally identifiable, meaning it does not directly identify you as an individual. Instead, it helps us understand User preferences and behaviors in order to improve Myinvoice Products and Services.
2.1.4
Information collected from third parties: To process your application for or access to Credit Products, Myinvoice may need to collect credit information as requested by the Lenders. To do so, we may obtain specific authorizations from you to gather your credit information from third parties such as credit bureaus or credit rating companies, on your behalf as your ‘authorised representative’ in accordance with Applicable Laws. Furthermore, we may collect your GST details from official GSTIN API stack or other relevant websites using the GST Network registration details as provided by you. We collect this information as part of our outsourcing obligations to Lenders and transfer this information securely to Lenders.
2.2.
Myinvoice is committed to maintaining transparency in our data collection practices. When we request personal and business information from you, we will clearly display the specific details we require. We understand that you have the right to choose whether to provide certain information or not. However, it is important to note that not providing certain information may limit the availability of the Credit Products and related Services that we can offer you.
2.3.
Myinvoice may ask you for such additional information, as may be required in connection with the Credit Products or the Services, and obtain your consent in this regard.
2.4.
Myinvoice shall not collect or store biometric data in the Mobile Application, Desktop Application or Website. Myinvoice shall not access your mobile phone resources such as file and media, contact list, call logs, contact list, call logs, telephony functions, etc. without your consent, in relation to the Credit Products. Provided however, Myinvoice may, with your prior explicit consent, seek access for camera, microphone, location or any other facility necessary for the purpose of on-boarding/ KYC requirements in connection with the Credit Products.
Summary: By applying for a Credit Product through Myinvoice, you agree to provide necessary information for the Services or in order to avail the Credit Product. This includes personal and business details, SMS information, device information, user-generated information, and technical/non-personal information. Myinvoice ensures transparency in data collection and will request specific information needed. Biometric data will not be collected without your consent.
PURPOSE AND USAGE OF COLLECTED INFORMATION
3.1.
Myinvoice shall use the information collected from you for the following purposes as detailed below:
To establish identity and verify the same;
To carry credit checks and risks, screenings or due diligence checks and facilitate KYC for you as lawfully required by the Lenders for the provision of Credit Products;
To facilitate communication between the you and the Lenders, includes checking and processing your requirements submitted to us for Credit Products or instructions or requests received from you in respect of these Credit Products;
To provide Myinvoice Services i.e., facilitating business loans to you or providing our value-added services or non-lending services to you;
To undertake research and analytics for offering or improving Myinvoice Products / Services and their security and service quality;
To take up or conduct audits / investigate any complaints / claims / disputes and to respond to your queries or feedback submitted by you;
To improve the user experience, including to resolve your concerns from the use of the Services, and train our customer service executives for improving the UI/UX;
To use your information in other ways permitted by Applicable Law to enable you to take financial services from the Lenders;
To send communications, promotional SMS, advertisements, email and Whatsapp notifications, information regarding the products or services requested by you or process queries and applications that you have made through us;
To customize your experience and enforce our terms and conditions; or
To comply with the requirements of Applicable Laws / regulations and / or court orders / regulatory directives.
3.2.
We will use and retain only such basic minimal information such as the your name, contact information, address details and such other information which are necessary for the provision of Services and for such period as necessary to provide you with the Services on the Myinvoice, to comply with our legal obligations, to resolve disputes, and enforce our agreements.
Summary: Myinvoice uses the collected information to facilitate lending and related non-lending Services. This includes verifying identity, credit checks, communication with Users and Lenders, research and analytics, resolving User concerns, sending communications, complying with laws, and customizing User experience. Only necessary information is retained for the provision of Services.
DISCLOSURE TO THIRD PARTIES
4.1.
To provide you with the best possible Credit Products and related Services, it may be necessary for us to share information collected from you with selected third parties on partial and "need-to-know" basis. These third parties may include Lenders, technology service providers, and, or marketing partners. The sharing of information serves specific purposes crucial to the provision of the Credit Products and related Services, and may include inter-alia (i) analysing bank statement, GST returns, and income statements basis which loan offer is determined; (ii) credit underwriting, evaluation, fraud checks and due diligence checks; (iii) facilitating document collection and/or verification for KYC purposes; (iv) utilising cloud services for secure record keeping and storage purposes; and (v) conducting research and analysis to enhance our Myinvoice Products and Services, improve customer service, and establish an effective grievance redressal mechanism.
4.2.
When it comes to sharing your information, we ensure that it is done in accordance with your explicit authorization and under appropriate confidentiality and security measures. In relation to the information specifically provided as a part of the application process for Credit Products, Myinvoice and Lenders shall act in accordance with the mutual understanding arrived at on matters regarding the sharing of your information, including restrictions on the use of data, data destruction protocol, and confidentiality standards for handling security breach, in compliance with the Applicable Laws.
4.3.
The details of our partners / contractors / technology service providers / third parties with whom we may share your information is enclosed herewith vide Annexure – A , as appended to this mBB Credit Privacy Policy.
4.4.
We may share your information with competent / legal / statutory / regulatory agencies / authorities or partners / service providers acting on our behalf (as the case may be) in following cases:
For enabling the provision of the third-party products / services availed by you through Myinvoice;
Where it is directed or required by legal / regulatory / statutory / governmental authorities / judiciary under any Applicable Laws / regulations or judicial pronouncement though a legally obligated request; or
Where it is required by financial institutions to verify, mitigate or prevent fraud or to manage risk or recover funds in accordance with Applicable Laws.
4.5.
If we are under a duty to disclose or share your personal information in order to comply with any legal or regulatory obligation or request, we shall not seek such your explicit consent, however, we shall reasonably endeavour to notify such disclosure to you.
4.6.
Please note that usage of your information by the third parties is subject to their privacy policies. We encourage you to have a look at their privacy policies prior to applying for / availing services of such third parties.
4.7.
Where possible, you shall have the option to restrict disclosure to third parties. However, where sharing of information to a particular third party is necessary for providing the Credit Products, you shall not be able to avail such Credit Products in case the User decides to restrict such disclosure.
Summary: To provide the best Credit Products and Services, Myinvoice may share User’s information with trusted third parties. This sharing is done with explicit consent and for specific purposes such as analysis, underwriting, document verification, and research. Measures are taken to ensure confidentiality and security. Your information may also be shared with legal or regulatory authorities in accordance with Applicable Laws. Users are also encouraged to review the privacy policies of third parties.
STORAGE AND RETENTION OF THE COLLECTED INFORMATION
5.1.
To safeguard your information, we take important measures to ensure that all the data we collect, process, store, and retain from our valued Users is securely stored in servers located within India. In certain instances, as part of our contractual relationships with our trusted Summary: To provide the best Credit Products and Services, Myinvoice may share User’s information with trusted third parties. This sharing is done with explicit consent and for specific purposes such as analysis, underwriting, document verification, and research. Measures are taken to ensure confidentiality and security. Your information may also be shared with legal or regulatory authorities in accordance with Applicable Laws. Users are also encouraged to review the privacy policies of third parties. third parties, the information collected may be stored in data centers or servers of the third parties that are located outside of our direct control.
5.2.
We will retain your information for the period as long as a you continue to be our customer or borrower and has availed any of our Credit Products through Myinvoice. Please note that we may keep your information even after you stop being a borrower / our customer of a Credit Product. The reasons due to which we may do this are:
To respond to a question or complaint, or to show whether we gave you a fair treatment;
To establish, exercise or defend our legal claims;
To comply with legal rules that apply to us about keeping records or information for certain time period after the deletion of your account or longer depending on Applicable Laws.
Summary: We store your information securely in servers located in India. We retain your information as long as you are our customer or borrower and may keep it even after you stop using our Services for purposes such as addressing complaints, legal claims, or for compliance with laws.
LINK TO THIRD PARTY WEBSITES
6.1.
Myinvoice may include links to third-party applications, Software Development Kits (SDKs), Application Programming Interface (API) integrations, and redirections. These third-party services may collect User’s information on our behalf, and the data collected is stored on secure servers that are not maintained by us.
6.2.
It is important to note that when you access these third-party applications, SDKs, API integrations, or redirections, their respective privacy policies will apply to the information collected from those applications or websites. We encourage you to review the privacy policies of these third parties before sharing any data with them.
Summary: Myinvoice may have links to third-party apps and services. When you use them, your data is collected by those third parties and their respective privacy policies apply. Please review their policies before sharing your information.
USER’S RIGHT IN RELATION TO USER INFORMATION
7.1.
Modifying or rectifying your information: In the event that any User information provided by you is inaccurate, incomplete or outdated then you shall have the right to write to us at support@flobiz.in and provide us with the accurate, complete and up to date data and have us rectify such data. It may take up to support@flobiz.in days to process your request. We urge you to ensure that you always provide us with accurate and correct information/data to ensure your use of our Services is uninterrupted.
7.2.
Withdrawal / Denial of Consent: You may withdraw your consent given to Myinvoice for collecting any information, except non-personal information, that is stored with us, at any time by sending an email to support@flobiz.in or writing to our customer support. Once you have withdrawn the consent allowing us to use your personal information stored with us, we will stop actively processing your personal information but may store it for archival / record keeping purposes in compliance with Applicable Laws. In such an event, we reserve the right to not allow you for further usage of Myinvoice Products or provide/use any Services thereunder, without any obligations or liability, whatsoever, whether in contract, tort, law, equity or otherwise, in this regard. However, if you have availed any Credit Products or Services from our Lenders through Myinvoice, we shall have the right to continue processing your information. However, we shall not retain your data and information if it is no longer required by us and there is no legal requirement to retain the same.
Summary: If your information is inaccurate or incomplete, you can contact us to update it. You can also withdraw consent for us to collect your information, except for non-personal information. If you withdraw consent, we may stop processing your personal information but may store it as required by law. However, if you have availed Credit Products, we may still process your information.
REASONABLE SECURITY PRACTICES AND PROCEDURES
We take various steps and measures to protect the security of your information from misuse, loss, unauthorised access, modification or disclosure. We use latest secure server layers encryption and access control on our systems. Our implement reasonable physical, administrative and technical safeguards certified by a third-party cyber security audit agency to protect your information from unauthorised access, use and disclosure. For instance, we encrypt information pertaining to your GST Network registration and PAN when we transmit over the web.
While we strive to maintain the confidentiality of your information, it is important to note that no transmission over the internet can be guaranteed as completely secure. Therefore, by using Myinvoice Products or Services, you acknowledge that we cannot be held responsible for any disclosure of your information resulting from transmission errors or unauthorized actions by third parties.
Summary: We take your privacy seriously and have measures in place to protect your information. While we strive to maintain its confidentiality, please be aware that no internet transmission is 100% secure.
POLICY REVIEW AND UPDATES
Our mBB Credit Privacy Policy is subject to change from time to time and we will make all reasonable efforts to intimate and update you of any changes, if required via SMS/WhatsApp or notification on the Mobile Application, Desktop Application or Website. It is strongly recommended that you review our mBB Credit Privacy Policy as available on the Mobile Application, Desktop Application or Website. In case you need any clarifications regarding this mBB Credit Privacy Policy, please do not hesitate to contact us at support@flobiz.in.
CONTACT US
You may contact us on any aspect of this policy or for any discrepancies / grievances with respect to your information, by contacting our Grievance Officer as per the details provided below:
Email:
info@prayoshatechnology.com
Address:
TF - 25, Raama Esquire, Near Tithi Heights, Gotri, Vadodara, Gujarat 390021 [10:30 AM to 7:30 PM, Monday to Friday except Public Holidays]