Privacy Policy

WavePay Privacy Policy
Last Updated: February 24, 2025

Welcome to WavePay, a mobile and web-based payment solution designed to facilitate seamless money transfers, merchant payments, and financial transactions across Africa, starting with Nigeria. At WavePay, we are committed to protecting your privacy and ensuring the security of your personal information. This Privacy Policy explains how we collect, use, disclose, and safeguard your data when you use our application and services (collectively, “Services”). By using WavePay, you agree to the terms outlined in this policy.

1. Information We Collect
We collect information to provide, improve, and personalize our Services. The types of information we may collect include:

Personal Information:
When you register: Full name, email address, phone number, and date of birth.
When you transact: Bank account details, payment card information, transaction amounts, recipient details, and QR code data.
When you verify your identity: Government-issued ID numbers, selfies, or other KYC (Know Your Customer) data as required by Nigerian regulations.
Usage Data:
Device information: IP address, device type, operating system, and unique device identifiers.
App interactions: Pages viewed, features used, timestamps, and session duration.
Location data: Approximate location (e.g., city or region) derived from your IP or transaction activity, only when necessary for fraud prevention or service delivery.
Third-Party Information:
Data from payment partners (e.g., banks, mobile money providers) to process transactions.
Analytics data from tools we use to understand app performance and user behavior.
We do not collect more information than is necessary to provide our Services or comply with legal obligations.

2. How We Use Your Information
We use your data to:

Provide Services: Process transactions, generate QR codes, and facilitate money transfers or merchant payments.
Verify Identity: Conduct KYC checks to comply with Nigerian financial regulations and prevent fraud.
Improve Our App: Analyze usage patterns to enhance functionality, fix bugs, and develop new features.
Ensure Security: Detect and prevent fraudulent activities, unauthorized access, or abuse of our Services.
Communicate: Send you transaction confirmations, account updates, or important notices via email, SMS, or push notifications.
Comply with Laws: Meet legal and regulatory requirements in Nigeria and other operational regions.
3. How We Share Your Information
We do not sell your personal information. We may share your data only in these cases:

With Service Providers: Trusted third parties (e.g., cloud hosting providers, payment processors) who assist us in operating WavePay, bound by strict confidentiality agreements.
With Partners: Banks or mobile money providers necessary to complete your transactions.
For Legal Reasons: When required by law, court order, or regulatory authority (e.g., Central Bank of Nigeria) to disclose information.
Business Transfers: If WavePay is involved in a merger, acquisition, or asset sale, your data may be transferred, but we’ll notify you beforehand.
4. Data Security
We take your security seriously:

Encryption: Transaction data and sensitive information are encrypted in transit and at rest using industry-standard protocols (e.g., TLS, AES-256).
Access Controls: Only authorized personnel on our remote team can access your data, under strict need-to-know policies.
Monitoring: We use advanced tools to detect and respond to security threats in real time.
Despite our efforts, no system is 100% secure. We’ll notify you promptly if a breach occurs that affects your data.

5. Your Choices and Rights
You have control over your information:

Access and Update: View or edit your account details anytime in the WavePay app.
Delete Your Data: Request account deletion by contacting us; we’ll remove your data unless legally required to retain it (e.g., transaction records for 7 years under Nigerian law).
Opt-Out: Unsubscribe from non-essential communications via app settings or links in messages.
Location: Disable location sharing in your device settings, though this may limit some features.
Under the Nigeria Data Protection Regulation (NDPR), you may also:

Request a copy of your data.
Ask us to correct inaccuracies.
Object to or restrict certain data processing.
6. Data Retention
We keep your data only as long as necessary:

Account information: Retained while your account is active, then deleted within 30 days of closure (unless legally required).
Transaction records: Kept for 7 years to comply with Nigerian financial laws.
Usage data: Stored for up to 12 months for analytics, then anonymized or deleted.
7. Third-Party Links
WavePay may connect to external services (e.g., bank portals). This Privacy Policy doesn’t cover those third parties. We encourage you to review their policies before interacting.

8. Children’s Privacy
WavePay is not intended for users under 18. We do not knowingly collect data from minors. If we discover such data, we’ll delete it immediately.

9. International Data Transfers
As a service starting in Nigeria with plans to expand across Africa, your data may be processed on servers outside your country (e.g., via our cloud hosting provider). We ensure these transfers comply with applicable laws and maintain adequate safeguards.

10. Changes to This Policy
We may update this Privacy Policy as our Services evolve. We’ll notify you of significant changes via email or in-app alerts. Continued use of WavePay after updates means you accept the new terms.

11. Contact Us
Questions or concerns? Reach out to our remote support team:

Email: support@wavepay.ng
Address: WavePay operates as a virtual entity; contact us electronically for assistance.