Policies

Last Updated: October 2024

CONTACT US
If you have any questions about this Privacy Policy, You can contact us:
By email: compliance@transfi.com

1. What is the objective of NeoMoney’s Privacy Policy?

“NeoMoney” refers to Trans-Fi Inc. and its affiliates and subsidiaries worldwide, including Trans-Fi UAB and NEOMONEY INC. (collectively “NeoMoney Group”, “NeoMoney”, “we”, “us” or “our”). 

NeoMoney may share your personal data with its other entities (subsidiaries and affiliates) and use it in accordance with this Privacy Policy.

The objective of NeoMoney’s (all subsidiaries and affiliates) privacy policy (the “Privacy Policy”) is to commit to protecting your privacy. Please read this carefully as this policy is legally binding when you choose to use our Services. For the purpose of the relevant data protection regulations, NeoMoney may act as either the “data controller”, “data processor” or both of your information.

This Privacy Policy describes how we collect, use, handle and, under certain conditions, disclose your personal data, when you access our Services, which include our content on the Website located at https://www.neomoney.io/ or any other websites, pages, features, or content we own or operate, including the NeoMoney payments transaction platform (collectively, the “Website(s)”), or any NeoMoney widget, application programming interface (“API”) or third party applications relying on such an API, products (Payouts, Collections and Ramp) and related services (referred to collectively hereinafter as “Services”).

This Privacy Policy also explains the steps we have taken to secure your personal information. Finally, this Privacy Policy explains your options regarding the collection, use and disclosure of your personal information. By visiting the Website, you accept the practices described in this Privacy Policy for the Website. If you do not acknowledge and accept this Privacy Policy, you may not use the Services.  

If you have any questions about this policy, please send them to compliance@transfi.com.

2. What personal information do we collect from you?

Personal information means any data which relates to a living individual who can be identified from that data, or from that data and other information, which is in the possession of, or is likely to come into the possession of, NeoMoney (or its representatives or service providers). In addition to information, it includes any expression of opinion about an individual and any indication of the intentions of NeoMoney or any other person in respect of an individual. The definition of personal information depends on the relevant law applicable for your physical location. The data NeoMoney may collect and use about you is described below in sections 2.1-2.3 of this Privacy Policy. 

NeoMoney obtains information about you from various sources. “You” may be an individual or legal entity entering into a business services agreement with NeoMoney and/or setting up a user account with NeoMoney and using the Services provided or through our Website or API (“User”), a legal entity/business identified under anti money laundering (“AML”) or counter terrorist financing (“CTF”) identification requirements as per local regulations, verified by NeoMoney, that uses our Services to collect payments, make payouts, or facilitate cross-border transfers (“Client”), a legal entity that has a contractual relationship with a NeoMoney Client and may be subject to AML/CTF identification requirements, verified either by NeoMoney or the Client (“Merchant”), a legal entity that is a client of a Merchant and may be subject to AML/CTF identification requirements, verified either by NeoMoney or the Merchant (“Sub-Merchant”), or individuals or legal entities that are the end users of Merchants who interact with the Services provided (“End User”). You may also be a recipient/beneficiary of one of our Services, or a visitor to our Website or other service that links to our API and Services. If You are a Merchant, a Sub-Merchant, or End User, your use of the Services will be governed by the applicable agreement between NeoMoney and the relevant Client.

2.1 Information you provide to us

This includes information you provide to us in order to establish an account and access our Services. This information is either required by law (e.g. to verify your identity), necessary to provide the requested Services (e.g. you will need to provide your bank account number if you would like to link that account to NeoMoney), or is relevant for our legitimate interests described in greater detail below.

The nature of the Services you are using or interacting with will determine the kind of personal information we might ask for, but may include:

• Personal Identification Information: full name, date of birth, age, nationality/citizenship, country of residence, government-issued ID details (including ID number, ID type, issuance and expiry dates), social security number, tax ID number, account credentials, geolocation, unique device details, network information or internet protocol address, wallet address,  gender, signature, utility bills, photographs, phone number, home address, email and/or any other information deemed necessary to comply with our legal obligations under applicable law and regulations;
• Official Identity Documents: government-issued identity document such as a passport, visa or national identity card, state ID card, driver’s licence,  and/or any other information deemed necessary to comply with our legal obligations under applicable law and regulations;
• Financial Information: bank account information, payment card information, tax identification number (“TIN”), transaction history, trading data. For transaction details, we store order details, the User’s bank account number, bank account name, and card information, including the cardholder’s name, card number, CVV, and expiration date. As we are Payment Card Industry Data Security Standard (“PCI DSS”) certified, we are able to securely store this information to meet our compliance obligations and ensure data security. While we do not store your NeoMoney User account login credentials, we securely handle and store card details in compliance with PCI DSS standards. Payment card information may also be processed through our system during transactions via secure third-party service providers. 
• Transaction Information: information about the transactions you undertake in connection with our Services, such as the name of the recipient, your name, the amount and/or timestamp, purpose of transaction, jurisdiction of transaction; 
• Verification Information: to verify your identify, including information for fraud checks and other information you provide, including images of yourself and a liveliness check;
• Employment Information: Office location, job title, and/or description of role; or
• Correspondence: Survey responses, information provided to our support team or User research team.

If you are a company, we may request information such as your employer Identification number (or comparable number issued by a government), proof of legal formation (e.g. Articles of Incorporation) and personal identification information for all material beneficial owners for Know Your Business (“KYB”) purposes.

If you do not provide us with the information below, we may not be able to provide the Services to you, or your use of the Services may be restricted. 

In addition to the information you provide to us in connection with your use of the Services, you may also choose to submit information to us via other channels, including in connection with an actual or potential business relationship with NeoMoney.

2.2 Information we collect automatically or generate about you

This includes information we collect automatically, such as whenever you interact with our Website or use our Services. With regard to your use of our Services we may automatically collect the following information:

• Details of the transactions you carry out when using our Services, including geographic location from which the transaction originates;
• Technical information, including the Internet protocol (“IP”) address used to connect your computer to the Internet, your login information, browser name, type and version, time zone setting, browser plug-in types and versions, operating system, geolocation/tracking details and platform, device details;
• Information about your visit, including the authentication data, security questions, full Uniform Resource Locators (“URL”) clickstream to, through and from our Website or mobile application (including date and time); products you viewed or searched for; page response times, download errors, length of visits to certain pages, page interaction information (such as scrolling, clicks, and mouse-overs), and methods used to browse away from the page and any email used to contact us.
• Cookies and other Technology. Like many websites, our Website employs cookies, location-based Services and web beacons (also known as clear GIF technology or “action tags”) to speed your navigation of our Website, recognize you and your access privileges, and track your usage. Please read our Cookie Policy for more information.

2.3 Information collected from third parties

We may receive information about you if you visit or use our Website or use our Services. This includes information we may obtain about you from third-party sources. The main types of third parties we receive your personal information from are:

• Public databases, ID verification partners in order to verify your identity in accordance with applicable law. ID verification partners use a combination of government records and publicly available information about you to verify your identity. Such information may include your name, address, job role, public employment profile, status on any sanction’s lists maintained by public authorities, and other relevant data;
• Blockchain data to ensure parties using our Services are not engaged in illegal or prohibited activity, sanctioned jurisdiction, dark net, child abuse, etc. and to analyze transaction trends for research and development purposes by screening wallet address for the source of funds;
• Marketing partners & resellers so that we can better understand which of our Services may be of interest to you;
• The banks/financial service providers you use to transfer money to us will provide us with your basic personal information, such as your name and address, as well as your financial information such as your bank account details;
• Business partners may provide us with your name and address, as well as financial information, such as card payment information; and
• Advertising networks, analytics providers and search information providers may provide us with pseudonymised information about you, such as confirming how you found our Website.

3. How do we use your personal information?

We may use your information in the following ways and for the following purposes:

(a) Internal Use: We use your personal information to provide you with our Services. We may  use your personal information to improve our Website’s content and layout, and improve our marketing efforts. . Additionally, we use your information to ensure the safety, security, and integrity of our Services by protecting against fraudulent, unauthorised, or illegal activity; monitoring identity and service access; and addressing security risks. .

(b) Communications with You: According to your preferences and in compliance with applicable law, we may send you marketing communications to inform you about events, to deliver targeted marketing and to share promotional offers. This may involve sending you communications via emails or mobile application notifications about our Services, features, promotions, surveys, news, updates, and events, managing your participation in promotions and events, delivering targeted marketing, and determining general information about visitors’ usage behaviour on the Website. Our marketing will be conducted in accordance with your advertising and marketing preferences and as permitted by applicable law. We require certain information, such as your identification, contact, and payment details, to provide and maintain our Services. If you are a new User or Client, we will contact you by electronic means for marketing purposes only if you have consented to such communication. If you do not want us to send you marketing communications, please go to your account settings to opt out or submit a request via compliance@transfi.com.

We may send you service updates regarding administrative or account-related information, security issues, or other transaction-related information. These communications are important to share developments relating to your account that may affect how you can use our Services. You cannot opt out of receiving critical service communications.

We also process your personal information when you contact us to resolve any questions, disputes, collect fees, or to troubleshoot problems. Without processing your personal information for such purposes, we cannot respond to your requests and ensure your uninterrupted use of the Services.

(c) Legal and Regulatory Compliance:  NeoMoney is required to process your personal information in compliance with AML/CTF, and security laws, which may include the collection, use, and storage of your information in certain ways. For example, we must identify and verify customers using our Services, including collecting photo identification and using third-party service providers to compare your personal information against databases and public records. When you seek to link a bank account to your NeoMoney account, we may request additional information to verify your identity or address and manage risk, as required by applicable law. Additionally, we may disclose personal information in response to requests from law enforcement, subpoenas, court orders, or as otherwise required by law, and where necessary to protect our legal rights, enforce agreements, or prevent fraud and abuse of our Services. This includes efforts to mitigate account compromise or loss of funds, investigate complaints, claims and/or disputes, and comply with regulatory or legal requests/inquiries.

(d) External Use: We disclose information to our service providers to help enable them to perform Services on your behalf. For example, to facilitate the purchase and custody of digital assets, we share certain information with third parties, such as your name, email address, physical address, social security number, date of birth, government-issued identification and the amount of digital assets being purchased.Further, the types of data we collect and share with third parties are described above in the information you provide to us, which includes your date of birth, country of residence, first name, last name, ID number, ID type, ID issue date, and ID expiry date, your bank account number, bank account name, and card information, including the name on the card, card number, CVV, and expiration date.

We may share non-personal information (such as the number of daily visitors to our Website or the size of an order placed on a certain date) with third parties. This information does not directly personally identify you or any User. For the avoidance of doubt, any IP addresses or a device or other identifier we collect may be shared with one or more third parties.

(e) Our Legitimate Business Interests: Sometimes the processing of your personal information is necessary for our legitimate business interests, such as:

• quality control and staff training;
• to enhance security, monitor and verify identity or service access, and to combat spam or other malware or security risks;
• research and development purposes;
• to enhance your experience of our Services and Website; 
• to facilitate corporate acquisitions, mergers, or transactions;

to conduct internal operations needed to deliver our Services, including troubleshooting software bugs and operational issues.

4. What personal information do we  disclose to third parties?

We allow your personal information to be accessed only by those who require access to perform their work and share it only with third parties who have a legitimate purpose for accessing it. NeoMoney will never sell or rent your personal information to third parties without your explicit consent. We will only share your personal information with selected third parties including:

• Identity verification services to prevent fraud. This allows NeoMoney to confirm your identity by comparing the information you provide us to public records and other third-party databases;
• Financial institutions which we partner with to process payments you have authorised;
• Affiliates, business partners, suppliers and sub-contractors for the performance and execution of any contract we enter into with them or you;
• Analytics and search engine providers that assist us in the improvement and optimisation of our Website;
• Companies or other third parties in connection with business transfers or bankruptcy proceedings;
• Companies or other entities that purchase NeoMoney assets;
• Law enforcement, regulators, or any other third parties when we are compelled to do so by applicable law or if we have a good faith belief that such use is reasonably necessary, including to protect the rights, property, or safety of NeoMoney, NeoMoney customers, third party, or the public; comply with legal obligations or requests; enforce our terms and other agreements; or detect or otherwise address security, fraud, or technical issues; and
• If you authorise one or more third-party applications to access our Services, then the information you have provided to NeoMoney may be shared with those third parties. A connection you authorise or enable between your NeoMoney account and a non-NeoMoney account, payment instrument, or platform is considered an “account connection.” Unless you provide further permissions, NeoMoney will not authorise these third parties to use this information for any purpose other than to facilitate your transactions using our Services. Please note that third parties you interact with, should have their own privacy policies and NeoMoney is not responsible for their operations or their use of data they collect.

Examples of account connections include:

• Merchants: If you use your NeoMoney account to conduct a transaction with a third-party merchant, the merchant may provide data about you and your transaction to us.
• Your financial services providers: For example, if you send us funds from your bank account, your bank will provide us with identifying information in addition to information about your account in order to complete the transaction.

You acknowledge and agree that NeoMoney may continue to use and disclose your personal data for a reasonable period following the termination of the relationship between you and NeoMoney for one or more of the following purposes: 

• to enable NeoMoney to fulfil its outstanding obligations to you under any agreement, if applicable; 
• to allow NeoMoney to enforce its rights under any agreement, if applicable; 
• for any purposes to which you have provided your written consent; 
• as required under applicable law; and as mandated by an order from a court of competent jurisdiction.

5. Links to other sites

Our Website may contain links to other websites for your convenience or information. These websites are operated by entities unaffiliated with NeoMoney, and we do not control, endorse, or take responsibility for their content or privacy practices. Each linked website may have its own terms of use and privacy policies, which may differ from ours. We encourage you to review these policies whenever you visit third-party websites, as NeoMoney is not responsible for the practices or policies of these external sites.

6. How do we protect and store personal information?

NeoMoney implements and maintains reasonable measures to protect your personal information. Your files are protected with safeguards according to the sensitivity of the relevant information. Reasonable controls (such as restricted access) are placed on our computer systems.

NeoMoney is an international business with operations in multiple countries. This means we may transfer to locations outside of your country. When we transfer your personal information to another country, we will ensure that any transfer of your personal information is compliant with applicable data protection law.

We may store and process all or part of your personal and transactional information, including certain payment information, such as your encrypted bank account and/or routing numbers. We protect your personal information by maintaining physical, electronic, and procedural safeguards in compliance with the applicable laws and regulations.

As a condition of employment, NeoMoney’s employees are required to follow all applicable laws and regulations, including in relation to data protection law. Access to sensitive personal information is limited to those employees who need it to perform their roles. Unauthorized use or disclosure of confidential customer information by a NeoMoney employee is prohibited and may result in disciplinary measures.

Finally, we rely on third-party service providers for the physical security of some of our computer hardware. We require those third-party service providers to comply with commercially reasonable security practices and measures. For example, when you visit our Website, you access servers that are kept in a secure environment. While we take industry-standard precautions to safeguard your personal information and secure your account, no system can be completely secure. As such, you assume the risk of potential breaches and their consequences. To protect your account, please safeguard your credentials, choose a complex password when registering, enable advanced security features like two-factor authentication, and never share your account credentials with third parties.

If we anonymize your personal information so that it can no longer be associated with you, it will no longer be considered personal information, and we can use it without further notice to you.

We do not knowingly request to collect personal information from any person under the age of 18. If a User submitting personal information is suspected of being younger than 18 years of age, NeoMoney will require the User to close his or her account and will not allow the User to continue using our Services. We will also take steps to delete the information as soon as possible. 

 We retain personal information as long as reasonably necessary to fulfil its intended purposes and meet our contractual and legal obligations. Email addresses and phone numbers are stored until the User uses the NeoMoney Services, and data is retained for five years once the User unsubscribes or removes themselves. Information will be deleted or de-identified when no longer needed, unless longer retention is required by law. NeoMoney retains certain information under AML/CTF regulations and holds data for a period of five years. If we cannot fully delete or de-identify information, we will take reasonable measures to prevent further processing.

7. Do we do any profiling and automated decision making?

We may use some instances of your data in order to customise our Services and the information we provide to you, and to address your needs - such as your country of address and transaction history. For example, if you frequently send funds from one particular currency to another, we may use this information to inform you of new product updates or features that may be useful for you. When we do this, we take all necessary measures to ensure that your privacy and security are protected - and we only use pseudonymised data wherever possible. This activity has no legal effect on you.  

8. What are your privacy and information access rights?

Depending on applicable law of where you reside, you may be able to assert certain rights related to your personal information. These rights include:

• the right to obtain information regarding the processing of your personal information and access to the personal information which we hold about you;
• the right to withdraw your consent to the processing of your personal information at any time. Please note, however, that we may still be entitled to process your personal information if we have another legitimate reason for doing so (for example, we may need to retain personal information to comply with a legal obligation);
• in some circumstances, the right to receive some personal information in a structured, commonly-used and machine-readable format and/or request that we transmit that data to a third party where this is technically feasible. Please note that this right only applies to personal information which you have provided directly to NeoMoney;
• the right to request that we rectify your personal information if it is inaccurate or incomplete;
• the right to request that we erase your personal information in certain circumstances. Please note that there may be circumstances where you ask us to erase your personal information, but we are legally entitled to retain it;
• the right to object to, or request that we restrict, our processing of your personal information in certain circumstances. Again, there may be circumstances where you object to, or ask us to restrict, our processing of your personal information but we are legally entitled to refuse that request;
• the right to lodge a complaint with the relevant data protection regulator if you think that any of your rights have been infringed by us; and
• the right to transfer your personal data between data controllers, for example, to move your account details from one online platform to another.

Our Services may, from time to time, contain links to and from the websites of our partners, advertisers and affiliates. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility for them. Please check these policies before you submit any personal data to these websites. Further information about your rights may be obtained by contacting the supervisory data protection authority located in your jurisdiction.

Subject to applicable laws, you may have the right to access information we hold about you. Your right of access can be exercised in accordance with the relevant data protection legislation.

9. How often is the Privacy Policy updated?

We may update this Privacy Policy from time to time and without prior notice to you to reflect changes in our information practices, and any such amendments shall apply to information already collected and to be collected. Your continued use of our Website or any of our Services after any changes to this Privacy Policy indicates your agreement with the terms of the revised Privacy Policy. 

Please review this Privacy Policy periodically and especially before you provide personal data to us. If we make material changes to this Privacy Policy, we will notify you here, by email or by means of a notice on the home page of our Website. The date of the last update of the Privacy Policy is indicated at the top of this document.

10. How can you contact us regarding any privacy questions?

If you have any questions about this Privacy Policy, please contact us at compliance@transfi.com or send physical mail to the relevant entity below:

Trans-Fi UAB

Pramones 10G 

Vilnius, Lithuania - 11118

NEOMONEY INC. 

325 Front Street West 2nd floor 

Toronto, ON M5V2Y1

Canada

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