‘FatakPay®’ is a trademark applied for registration by FATAKPAY DIGITAL PRIVATE LIMITED, a company incorporated under the provisions of the Companies Act, 2013, having its registered office at FatakPay Digital Private Ltd, Technopolis Knowledge Park, Office No 1, Ground Floor, Mahakali Caves Road, Andheri (East), Mumbai, Maharashtra 400093 . We are engaged in the business of providing digital credit worthy borrowers seeking short-term credit by connecting them with our NBFC partners and carrying out other incidental activities including collection on behalf of our NBFC partners.
The services offered to you on or through the Platform are referred to as “Services”. Please note that unless specifically defined in this Policy, capitalised terms shall have the same meaning ascribed to them in our Terms and Conditions, available at the Platform (“Terms and Conditions”). Please read this Policy in consonance with the Terms and Conditions. By visiting, downloading, accessing the Platform or by using all or any part of the Services, you agree to the terms of this Policy.
We shall collect personal information of the User, while some User information has to be mandatorily provided, others are optional and certain portions of the information will remain private and some will be displayed to other users. Additional information may be gathered during subsequent use of the Platform by the User, as deemed necessary by Us.
Certain mandatory information will be collected at the time of registration on the Platform which is required to enable the User to login to the Platform and for us to:
Verify the User's identity: this includes your first and last name, username or similar identifiers, title, photographs, and such other information as may be deemed necessary by Us from time to time.
Determine the User's eligibility for taking loans using, inter alia, our proprietary technology and such additional rules that may be determined by: (a) Us; (b) our banking partners; or (c) both (a) and (b); and (iii) safeguard against illegal activities like fraud, cheating, misappropriation, etc. This includes your credit history/score sourced from Equifax basis your consent, income details, payments/repayments through the Platform and bank account details or credit/debit card number that you opt to link or share for availing Services and such other modality as may be deemed necessary for the performance of the Services.
In order to use the facilities and services available on the Platform, the User may be required, from time to time, to provide certain additional personal information after registration on the Platform, which information shall be collected only upon receiving the User's express consent.
We may collect KYC data: This includes identification documents issued by the government or similar authorities and includes details pertaining to Aadhar, your PAN card, voter ID and ration card or information sourced through e-KYC process.
We may also automatically receive and collect certain anonymous information in standard usage logs through the web server, including mobile-identification information obtained from the equivalent of "cookies" sent to the Platform, including mobile network information, standard web log information, traffic to and from our Platforms, tracking inside the Platform and any other available information from:
an IP address, assigned to the device used by the User;
the domain server through which the User accesses the Platform and the functions and features therein; and
the type of device used by the User including the device number, model and such or other details that may be culled out through automated processes, IMEI, ISMI and operating system ("Device").
After obtaining the User's specific consent to allow the Platform to access the User's SMS inbox, we may collect relevant information from text messages (SMS) received by the Users from providers of services and/or products, that will enable us to provide better access to financial services and products to the Users. We will only access business messages that originate from alphanumeric senders.
In order to enhance our ability to provide valuable services and experiences to the User, We may: (a) automatically receive, collect and analyse your location information which may be accessed through a variety of methods including, inter alia, GPS, IP address, and cell tower location; and (b) collect information pertaining to your device and your usage of its features or functions thereof, including, inter alia, the names of the other applications on your mobile device and how you use them.
METHOD AND MANNER OF USE OF INFORMATION:
When a User registers with the Platform, we will use the information supplied by the User to pull a credit report from a credit bureau and identity verification from a third party service provider to facilitate banks and other financial institutions to evaluate the User's credit request in the context of the User's complete financial situation.
We will also use the User information to enable activities and transactions that need to occur during the process of lending, such as:
Generating and maintaining User profiles on The Platform;
Provide personalized features;
Aiding financial services organizations to provide better services;
Facilitating collection activities as needed;
Maintaining regular communications with the User concerning transactions the User initiates, such as requesting information or assistance, submitting a loan request, making payments, transferring funds, etc.
To enforce our Terms;
Providing The Platform and its functions and features therein, efficiently ;
Modifying The Platform from time to time to cater to the User's interests;
To undertake marketing services, including sending The User promotional messages;
To respond to court orders, establish or exercise our legal rights, or defend ourselves against legal claims.
Preserve social history as governed by the existing law or policy.
SHARING OF INFORMATION:
We will not use User information for any purpose other than in connection with this Platform. FatakPay will not rent, sell or share User information and will not disclose to any of the User's personally identifiable information to third parties, unless:
it is pursuant to obtaining the User's permission;
it is in connection with the services being rendered through the Platform;
it is to help investigate, prevent or take action regarding unlawful and illegal activities;
it is to investigate suspected fraud, potential threat to the safety or security of any person, violations of FatakPay's Terms & Conditions, or as defence against legal claims;
if it forms part of the information FatakPay shares with advertisers on an aggregate basis.
Information that is deemed to be sensitive in nature such as your bank records and your contact book is only shared with external parties if absolutely necessary and after getting explicit consent from you.
FatakPay shall not share the above given information to any third party except to:
Our affiliate or subsidiaries or any company that we intend to merge with or acquire.
Banks and other financial institutions in order to provide you Services or develop new products.
Credit Bureau and other third parties (including collection agencies) involved – directly or indirectly – in providing services or in running our business operations. This may include but not be limited to lenders, storage providers, data analytics providers, consultants, lawyers, and auditors.
Where we are required by law, any court, a government agency, or authority to disclose such information. Such disclosures are made in good faith and belief that it is reasonably necessary to do so for enforcing this Policy or the Terms and Conditions, or in order to comply with any applicable laws and regulations.
The acceptance of this Policy by you authorizes us, our associate partners, affiliates and subsidiaries to contact you via SMS email, WhatsApp, phone, or otherwise regarding Services or any promotional offers.
The information provided by the User is stored in access controlled facilities with restricted access. User Information transmitted over the internet is protected through the use of encryption, using the Secure Socket Layer (SSL) or equivalent protocols.
If a password is used to help protect User account and account information, it is the responsibility of the User to keep the password confidential. You have to ensure that you always log out, before sharing the device with a third party and it is advised that the User utilize any services that protect access to the User's Device.
We shall use generally accepted industry standards to protect the User information submitted to us, both during transmission and upon receipt. However, please be advised that, no method of transmission over the Internet, or method of electronic storage, is 100% secure. Therefore, even though we strive to use commercially acceptable means to protect User information, we cannot guarantee its absolute security and your use of The Platform is solely at your risk and discretion. We also cannot warrant that such User information may not be misused in the event our safeguards and protocols are breached by any malicious third-parties. Further, we are also not liable to nor can we fully control the actions of other users with whom you may choose to share your information.
The collection, usage, and sharing of User information by FatakPay shall be in compliance with the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2017 as amended from time to time and other applicable laws.
PROCEDURE FOR REMOVING USER NAME FROM THE RECORDS
If the User no longer wishes to receive notifications about FatakPay services, the User may change his/her notification preferences by contacting FatakPay at customer services as provided on the Platform. FatakPay reserves the right to close the User account if the User opts out of receiving certain crucial notices that are required to perform the Services. The User may not opt-out of receiving notifications about due or past due amounts that the User owes as against the Services or any other collections efforts.
In such an event, we reserve the right to not allow you further usage of our Platform or provide/use any Services thereunder, without any obligations or liability, whatsoever, whether in contract, tort, law, equity or otherwise, in this regard. All amounts due and payable by you to us shall become payable immediately upon you being ceased from using the Platform.
LINKS TO THIRD PARTY WEBSITES
Our Services may, from time to time, contain services provided by or links to and from the websites of our partner networks, service providers, financial institutions, advertisers, and affiliates (“Third Party Services”). Please note that the Third-Party Services that may be accessible through our Services are governed by their own privacy policies. We do not accept any responsibility or liability for the policies or for any information that may be collected through such Third-Party Services. Please check their policies before you submit any personal data to such websites or use their services.
We keep our Policy under regular review and may amend it from time to time, at our sole discretion. Any changes shall be deemed effective immediately upon publishing of the modified Policy on the Platform and any continuous usage of Services, following the modification will indicate acceptance of changes in Policy by you.
Notwithstanding anything mentioned herein in this Policy or elsewhere, FatakPay shall not be held responsible for any loss, damage or misuse of Your Information, if such loss, damage or misuse is due to a Force Majeure Event.
A "Force Majeure Event" shall refer to any event that is beyond FatakPay's reasonable control and shall include, without limitation, flood, explosion, acts of God, sabotage, fire civil commotion, strikes or industrial action of any kind, war, acts or order of government, change of laws, riots, insurrection, computer hacking, un-authorised access to computer data and storage device, computer crashes, breach of security and encryption, etc.
PROCEDURE FOR CORRECTING INACCURACIES IN THE INFORMATION
The User may correct or update any information online. In the event of loss of access details the User may retrieve the same or receive new access as per the customer service modality provided on the Platform.
In accordance with Information Technology Act 2000 and rules made there under, the contact details of the Grievance Officer are provided below:
Name: Sanjay Kumar Singh
Email Address: [email protected]
Address: FatakPay Digital Private Ltd, Technopolis Knowledge Park, Office No 1, Ground Floor, Mahakali Caves Road, Andheri (East), Mumbai, Maharashtra 400093
Questions regarding FatakPay, its products or any other questions in relation to the foregoing should be directed to the following address: [email protected]