MONEXIN FINANCIAL SERVICES Ltd.
Updated: November 26, 2023
The Privacy Policy (“Policy”) describes how Monexin Financial Services Ltd. and its affiliates (collectively “MONEXIN”, “us” and “we”) collects, stores and oversees your information and data.
This Policy delineates our prevailing privacy practices. We perpetually amend and update this Policy in order to guarantee that consumers, applicants, clients, third party program merchants, and service providers remain cognizant of any modifications to our privacy procedures, facilitate the simplification of said practices, and ensure adherence to pertinent legislation. For the purposes of clarity, “consumers” shall refer to individuals not presently engaged as our clients; “applicants” shall refer to individuals seeking approval for utilization of our services; and “customers” shall refer to individuals who have been approved, are currently employing or have previously availed themselves of our products and services. Recurrent consultations of this site are highly recommended for the most up-to-date information. Furthermore, we shall conscientiously notify affiliated parties regarding any material alterations that may bear significance to their interests.
The designated officer bears the obligation to ensure adherence to this Policy and relevant privacy statutes. Our liability encompasses the personal data within our purview or custody, as well as personal data consigned to an external entity for purposes of processing. Pursuant to applicable statutes and regulations, we engage in the procurement, utilization, and dissemination of personal data for the purpose of conducting our commercial activities and fulfilling any legal obligations. Personal data shall refer to information pertaining to an identifiable natural person. We follow the regulations of Federal Personal Information Protection and Electronic Documents Act, as well as applicable laws of provinces, for example, the British Columbia Personal Information Protection Act.
Reasons of information collection
We might utilize your contact and identity details to get in touch with you. This data enables us to reach out through various means, including mail, email, SMS messages (message and data charges may apply), app push notifications, or phone calls at the contact points you’ve supplied. Our contact may be for addressing your queries, proactively sharing updates about your accounts with us, informing you on our offerings and services, and providing updates on modifications to our website, mobile app, or other digital solutions. This information can also be employed to send crucial information regarding application status, account opening disclosures, and essential or useful notices about your accounts. Please note that online communication or email may not be secure as it can be intercepted or altered before being retransmitted over the internet.
We might employ your security credentials, contact, identity, and financial information for authentication purposes. We may utilize your online, transactional, and usage data to enhance our products, services, website, and mobile app. This information helps us in evaluating current offerings, creating new offerings, optimizing our website, conducting analysis, driving strategy, and bettering the customer experience. The collected data is also crucial for our quality and service training programs.
We also personalize our website and mobile app using the gathered online, financial, transaction, and usage information to comprehend and offer products and services that may be beneficial to you and others like you. This information assists us in understanding activity on our website and mobile app as well as user interactions with our digital platforms. It is also employed to monitor and upgrade our website and mobile applications.
We could use your contact, identity, financial, online, transactional, counterparty, usage, and third-party data to serve you better. This information can help open, maintain, service, process, analyze, audit and collect on your accounts. It can also be used to optimize our website or mobile application performance and personalize user experience while supporting mobile payments and sending notifications. Furthermore this information aids in monitoring your accounts and conducting business analytics. To prevent fraud, we may use your security details, contact information, identity data, financial records, online behavior, transaction history, counterparty data, usage patterns, and third-party details. This data enables us to evaluate fraud risks for both you and us while safeguarding consumers, applicants, clients, and service providers from identity theft, unauthorized account access, and fraud. In cases of fraud investigations, we may collaborate with external service providers.
We have the right to preserve the aforementioned information combined with other details about you in our files even after your account is terminated for fulfilling legal and regulatory requirements. We may utilize your contact, identity, financial, transactional, counterparty and third-party data to comply with our legal and regulatory responsibilities like tax reporting, anti-money laundering checks and sanctions screening. We can also share this information with our banking partners, credit reporting agencies and governmental or regulatory authorities as allowed or mandated by law.
Occasionally we may utilize your contact, identity, financial, online, transactional, counterparty, usage, and third-party data to present you with offers, advertisements, and promotions. Parts of this information can be employed to assess your eligibility for offers, products, and services or to communicate with you directly for targeted advertising, marketing campaigns, promotional offers, rewards programs, research projects, or competitions. We might employ your security credentials, contact details, online activity patterns, and contact data to recognize you on third-party platforms you currently engage with, then serve you adverts through their promotional platforms. We could use this data to identify you on other third-party platforms and leverage the algorithms available on those platforms to discover additional users with similar attributes.
What do we collect and the limits of the collection
Except where disclosure of information is mandated for the fulfillment of a specified purpose or as compelled by applicable law, the decision to divulge any data to us shall remain at your discretion.
Pertaining to identification data, upon the application or registration for our offerings or services, contingent on the specific offering or service, we may amass identification data concerning you, encompassing your appellation, date of birth, communication details, corroborating information, vocational and occupational particulars, information concerning your domicile in relation to taxation, residential conditions, projected utilization of the account, account objectives, risk tolerance, investment timeframes, and financial specifics. If you provide us with your individual identification numeral, we may employ it for tax-related reporting. When submitting contact or identity data on behalf of another individual or an authorized user, it is anticipated that you possess the requisite authority to grant consent for its procurement, utilization and dissemination as delineated in this Policy. With your acquiescence, we may additionally accumulate biometric data such as an image of your government-issued identification (e.g. driver’s license, passport, or alternative government-issue photo identification card) as well as a real-time visual (e.g., a “selfie”) provided by you for the purpose of substantiating your identity, forestalling fraudulent activities, and adhering to pertinent legal and regulatory mandates including those related to anti-money laundering efforts, counter-terrorism financing and financial transactions involving certain sanctioned individuals. Optionally and dependent on device compatibility, you may elect to use fingerprint or facial recognition technology to access your account. Should you choose to employ such features, the associated biometric data will be retained and managed locally on your device; we neither collect nor maintain access to said information.
With regard to contact details and marketing predilections, we may amass information that you supply, including but not limited to your full name, telephone number, residential address, municipality, electronic mail address, and marketing inclinations, in the event that you access or utilize our website or mobile application, enroll or submit an application for any of our products or services, engage with us via social media platforms or online advertisements, partake in questionnaire exercises, or initiate any interaction with us in any capacity.
Pursuant to our collection practices, we may gather data pertaining to your mobile and online activities, inclusive of, but not limited to, your web browser type, temporal zone, Internet Protocol (IP) address, mobile device identification number, utilization patterns of applications and websites, as well as browsing history. Information pertaining to your online comportment may be accumulated through the utilization of cookies (small data files placed on your computing device by a website’s server). You retain the option to configure your browser settings to refuse acceptance of cookies; however, such actions may adversely affect our capacity to personalize and experiment with your user experience, including the recollection of preferred language settings or the presentation of information specific to your geographical location.
Should you elect to designate authorized users or contacts in association with your account, it shall be incumbent upon us to gather and retain data pertinent to their name, electronic mail address, and telephonic contact number. In the event that you append professional acquaintances within your account, we shall be obliged to accumulate and preserve information such as the commercial entity’s appellation, sobriquet, and the respective account numeral affiliated with them.
Upon registration for any of our products or amenities, contingent upon the particular offering, we may amass data germane to the utilization of our online platform and mobile software application. This may encompass records of pages accessed as well as navigational activities in order to assess and augment application performance.
Should you decide to reach out through electronic mail or conventional postal correspondence, please be advised that it becomes necessary for us to retain details such as your email or mailing address along with the content of your message and any subsequent responses generated by us. Furthermore, we may obtain publicly accessible data pertaining to you from online sources.
In instances where an individual elects to establish an account or subscribe to any of our products or services, subject to the respective product or service in question, our obligations may require us to obtain and archive security authentication information. This could include user designation, confidential codes, security queries, and personalized identification numerals associated with payment cards.
Usage of the collected information and data
Our agreements with third parties mandate the protection of your personal information and adherence to our privacy standards. When you interact with other companies directly or reach out to us through their platforms, their privacy policies govern the information they gather from you. We may also disclose your information to regulators, courts, or other entities as dictated by law. Our use, disclosure, and retention of personal information are restricted to the purposes we specify and in compliance with relevant laws. We neither sell nor lease customer lists or personal data to third parties. We might share your information with service providers who work on our behalf, such as credit reporting agencies, identity verification services, card producers, printing suppliers, payment processors, marketing and research firms, call centers, collection agencies, and third-party MONEXIN product or service providers necessary for serving you. Furthermore, we may share anonymous and aggregated data with third-party merchants in our cashback program to deliver insights and analytics regarding their rewards programs.
Third-party services may be utilized to scrutinize your transaction details in order to detect any fraudulent activities on your account. Your information may be disclosed to address concerns, comply with legal obligations, and adhere to payment network stipulations.
Your contact, identity, financial, online, transaction, and counterparty data may be disclosed to the main credit card issuers. Be aware that card issuers manage your personal information in their capacity as the card issuer, which is subject to their own privacy policy and not regulated by this Policy. Additionally, we may share the aforementioned information with our account providers like GuavaPay or others for regulatory reporting and compliance purposes.
Your personal, financial, transaction, and counterparty data might be disclosed to our external payment processing partners. The shared details could consist of: name; address; account numbers and conditions; date of birth; transaction history; and records of payments.
Your identity, financial, transaction, and counterparty data may be disclosed to third-party verification service providers, such as those keeping records associated with your telecommunications service providers. This is done for reasons like verifying identities, evaluating risks, and updating your account’s contact information accurately. Information that could be shared consists of your name, address, phone number, device data, location details, identification specifics, and biometric features like facial structures from ‘selfie’ photographs or a government-issued identification image, etc.
We might disclose your online, transactional, usage, and third-party data, as well as anonymized and aggregated information, to comprehend and provide products, services, and offers that you and others with similar interests may find valuable. Furthermore, we may share your details to prevent offers that are not of interest to you.
We reserve the right to sell, transfer, or assign our Canadian business interests, including any rights or obligations related to your accounts, at any given time. In the event of such a transaction, we may disclose your personal information to potential buyers, transferees, or assignees. We will ensure that any such party is contractually obligated to use your data solely for the purposes outlined here and take necessary measures to protect your information according to the sensitivity of the personal data involved.
Your identity, financial, online, transaction, and counterparty data may be shared with our payment processing partners to facilitate your transactions and payments. This shared information could consist of transaction details, account numbers, the bank from which funds were withdrawn, and the account holder’s name at the bank.
Your personal data might be stored and processed by authorized third parties in countries beyond Canada’s borders. In cases where a third-party handles or stores information outside of Canada, it is possible that foreign governments, courts, law enforcement, or regulatory bodies could access such personal data under the jurisdiction of the respective country.
The consent of a user
By engaging with us, applying for a product or service, or sharing your personal information in any manner, you grant your consent to the collection, utilization, and disclosure of your personal data in accordance with this Policy, relevant laws, and industry standards. Should we require using your information for an objective not previously disclosed during the initial consent, we will seek your approval at the time of this new purpose. In compliance with legal and contractual limitations, you may, upon giving us reasonable notice, revoke your authorization for the use and disclosure of your personal data, except for the information necessary for us to manage your account and supply the services you have been granted.
You can choose to opt out of receiving communications related to advertising, marketing, promotions, rewards programs, research, or contests by modifying your privacy settings. Be aware that revoking your consent in these situations might lead to missing out on account-specific offers. Opting out of cookie usage must be done separately.
Safety and precision
Your personal information, along with other details about you, may be retained in our records even after your account has been terminated, in order to adhere to legal and regulatory requirements. We take measures to guarantee that your personal data remains precise, comprehensive, and current as needed for the intended purposes. If you think the personal information we hold about you is inaccurate or incomplete, kindly notify us by updating your details. It is your responsibility to update your information with us if you relocate, modify your phone number or change your email address.We implement measures and methods suitable for the protection of sensitive personal information to guard against loss, theft, and unauthorized access. Access to your data is limited to individuals and parties who need it. Although we take every reasonable precaution to safeguard data, providing personal details always carries inherent risks. If someone claiming to represent us approaches you for personal or financial information, and you have doubts, you can reach out to us to verify the legitimacy of the request before divulging any information. We also advise using distinct and robust passwords for your online accounts, and not sharing passwords with anyone. Unless otherwise allowed or mandated by law, we will hold your personal data for a duration that is reasonably necessary to accomplish the objectives for which it was gathered.
Communicating with us regarding this subject
If you wish to gain access or modify your personal data in our files, please feel free to reach out to us. In accordance with legal requirements, we will disclose the personal information we hold about you. Your contact details and transaction history can be viewed on the account statements we have supplied to you.
For any general privacy-related questions or issues, more information about our Policy, or to raise a privacy concern, please reach out to us in writing:
MONEXIN Financial Services Ltd., 1500 WEST GEORGIA, 13TH FLOOR, VANCOUVER, BC, V6G 2Z6, CANADA; or electronic mail: [email protected]
Should our efforts fail to address your concerns, you may opt to get in touch with the Office of the Privacy Commissioner of Canada:
Telephone: 1-800-282-1376
Website: priv.gc.ca
30 Victoria Street
Gatineau, QC, K1A 1H3, Canada