Privacy Policy

Introduction

ARTH PAY “Arth Platform Technology Private Limited” recognizes the expectations of its customers with regard to privacy, confidentiality and security of their personal information that resides with the Company. Keeping personal information of customers secure and using it solely for activities related to the Company and preventing any misuse thereof is a foremost priority of the Company. The Company has adopted this privacy policy aimed at protecting the personal information entrusted and disclosed by the customers (hereinafter referred to as the “Policy”). This Policy governs the way in which the Company collects, uses, discloses, stores, secures, and disposes of personal information and sensitive personal data or information.

Definitions

“Digital Lending Apps” / “Platforms” / “DLA(s)” shall mean mobile and web-based applications with user interface that facilitate digital lending services. DLAs will include apps of the Company as well as those operated by LSPs engaged by the Company for extending any credit facilitation services in conformity with extant outsourcing guidelines issued by the RBI.

“LSP(s)” means an agent of the Company who carries out one or more of Company’s functions or part thereof in customer acquisition, underwriting support, pricing support, servicing, monitoring, recovery of specific loan or loan portfolio on behalf of the Company in conformity with extant outsourcing guidelines issued by the RBI.

“Personal Information” means any information that relates to a natural person, which is capable of identifying such person, either directly or indirectly, either independently or in combination with other information, either available or likely to be available with the Company.

“RBI” shall mean Reserve Bank of India.

“Sensitive Personal Data or Information” of a person or business legal entity means such personal/ business information which consists of information relating to any or all of the following:

Password;
Financial information such as details pertaining to a Bank account or credit card or debit card or any other payment instrument;
Physical, physiological, and mental health condition;
Sexual orientation;
Medical records & history;
Biometric information;
Any detail relating to the above clauses as provided to the Company for providing service, or received by the Company for processing, stored or processed under lawful contract or otherwise
Know Your Customer (KYC) and other information provided by the customer at the time of commencing a relationship or any time thereafter;
Information about transactions with the Company;

Provided that the following shall not be regarded as sensitive personal data or information for the purposes of this policy:

Any information that is freely available or accessible in the public domain or furnished under the Right to Information act, 2005 or any other law for the time being in force;
Information obtained from a business legal entity in addition to “personal information”;
Has been obtained by the Company from a third person without any obligations of confidentiality;
Furnished pursuant to any directions of a governmental authority or court of law;
Was rightfully in the Company’s possession prior to receipt from the customer free of any obligation of confidence

Applicability

This Policy is applicable to Personal Information and Sensitive Personal Data or Information collected by the Company or its affiliates directly from the customer or through the Company’s online portals, mobile apps, and electronic communications as also any information collected by the Company’s server from the customer’s browser.

Purpose & Objective

The Company collects and uses Personal Information and Sensitive Personal Data or Information from its customers. This information is collected and used for specific business purposes or for other related purposes designated by the Company or for a lawful purpose to comply with the applicable laws and regulations. The Company shall not divulge any Personal Information or Sensitive Personal Data or Information collected from the customer, for cross-selling or any other purpose. This Policy serves to outline the privacy measures followed by the Company to safeguard the data entered by customers on its web portal and application.

The authenticity of the Personal Information or Sensitive Personal Data or Information provided by the customer shall not be the responsibility of the Company.

Disclosures of Personal Information

The Personal Information or Sensitive Personal Data or Information collected by the Company shall not be disclosed to any other organization except:

Where the disclosure has been agreed upon in a written contract or otherwise between the Company and the customer;
Where the Company is required to disclose the personal information to a third party on a need-to-know basis, provided that in such case the Company shall inform such third party of the confidential nature of the personal information and shall keep the same standards of information/ data security as that of the Company;
Furnished pursuant to any directions of a governmental authority or court of law;
The inclusive list of the details of third parties (where applicable) allowed to collect personal information through the Arth Pay will be updated from time to time

In line with the mandate of the RBI, the Company has adopted and implemented the following requirements:

The Company shall ensure that LSPs engaged by them do not store personal information of the customers except some basic minimal data (viz., name, address, contact details of the customer, etc.) that may be required to carry out their operations
The Company shall carry out the responsibility of ensuring that the LSPs maintain data privacy and security of the customer’s personal information
The Company shall ensure that any collection of data by their LSPs is need-based and with prior and explicit consent of the customers having an audit trail. The Company shall also ensure that DLAs desist from accessing mobile phone resources like file and media, contact list, call logs, telephony functions, etc
The Company shall ensure that the customer shall be provided with an option to give or deny consent for use of specific data, restrict disclosure to third parties, data retention. Revoke consent already granted to collect personal data and, if required, make the app delete/forget the data
The purpose of obtaining customers’ consent needs to be disclosed at each stage of interaction with the customers
Explicit consent of the customer shall be taken before sharing personal information with any third party, except for cases where such sharing is required as per statutory or regulatory requirements
The Company shall ensure that clear policy guidelines regarding the storage of customer data, including the type of data that can be stored, the length of time for which data can be stored, restrictions on the use of data, data destruction protocol, standards for handling security breaches, etc., are put in place and also disclosed by Arth Pay of the REs and of the LSP engaged by the Company prominently on their website and the apps at all times
The Company shall ensure that no biometric data is stored/collected in the systems associated with the Company/their LSPs unless allowed under extant statutory guidelines
The Company shall ensure that they and the LSPs engaged by them comply with various technology standards/requirements on cybersecurity stipulated by RBI and other agencies, or as may be specified from time to time, for undertaking digital lending
All data (including personal data and information of the customers) shall be stored in India
No information (including personal information or data of the borrowers) shall be collected by LSPs without the prior explicit consent of the customers

Nothing stated above shall preclude the Company from adhering to the mandate of disclosing/reports borrowers to the credit information companies in accordance with the Digital Lending Guidelines and/or the Outsourcing Policies and/or other extant instructions/guidelines/directions/circulars of the RBI.

Collection of Information

Arth Pay collects, stores, and utilizes information about customer through various channels, including:

1. Interactions with the Site:

When a customer visits, uses, views, or otherwise interacts with the Site
When a customer fills out any form or subscribes to newsletters

2. Other Engagements:

Information submitted directly or indirectly for availing Arth Pay’s services
Additional data that may be obtained to supplement the provided information

Arth Pay collects a variety of personal and sensitive information, which includes but is not limited to:

Personal Details: Name, Address, Email address, Phone number, date of birth, Occupation
Financial Information: Income, income sources, and bank account information
Sensitive Data: Identity verification documents (e.g., PAN card, Utility Bills, Bank Statements, or company incorporation details)
Credit Evaluation Data: bureau scores, account statements, and other financial records, especially for ongoing credit evaluation after a loan is granted
Business Information : Information of business and about the goods and services sold such as your prices, inventory and/or other data
Other : As may be explicitly required & and consented by you from time to time

Additionally, Arth Pay may automatically collect certain information each time customer uses the Site/ Arth Pay’s Web Application, such as:  

IP address and general geographic location
Web browser details, including software and version
Device metadata
Referring websites and user activity, including: - Frequency of visits - Average visit duration - Pages viewed during visits

By accessing and using the Site/ Web Application, Consent to the storage and retrieval of cookies, local storage technologies, and other data by Arth Pay and authorized third parties. Refusing cookies may impact certain functionalities of the Site/ Web Application Arth Pay may combine collected data for analysis with information gathered through cookies, web beacons, or other sources

Use of Collected Personal Information

Rest assured, the Company will handle Customer’s Personal Information responsibly, fairly, and in accordance with this Policy and applicable laws. Customer’s Personal Information is used to provide the Services they request through our Platform. The way Arth uses Customer’s information depends on the purpose of their interaction with Arth Pay and the specific Service they seek. Below are some purposes for which the Company processes Customer’s Personal Information:

To conduct market research and surveys aimed at improving Arth Pay’s offerings
To personalize Customer’s experience and provide tailored content based on their preferences
To create Customer’s user login ID and identify them upon registration on the Platform
To send communications such as notifications, newsletters, and tailored mailers
To inform Customer about new products, services, and special offers, including third-party promotions or features of interest
To respond to Customer’s questions, requests, complaints, or feedback
To enhance usability, troubleshoot issues, and perform site/ web application maintenance.
To help maintain a secure and safe service environment
To create aggregated statistical data, which may be used by the Company or their partners to improve Services
To enhance user experience and overall Service quality through information gathered from cookies
To detect, prevent, investigate, or address illegal activities, suspected fraud, or breaches of Company’s Terms of Use
To comply with applicable laws and regulations

Review and Correction of Personal Information

Customers have the right to access, review, and update the Personal Information or Sensitive Personal Data they have provided to us. If any information shared by customer is found to be incorrect, incomplete, or outdated, Customer may request the necessary corrections.  

To initiate a review or request a data correction, Customers can contact Arth Pay through the communication channels provided in this Privacy Policy. The company will take reasonable steps to verify a customer’s identity before proceeding with any requests. Upon verification, we will promptly update or rectify the information to ensure its accuracy and reliability.
This provision ensures compliance with Rule 5 of the SPDI Rules and upholds our commitment to maintaining accurate and transparent records.

Withdrawal Of Consent

Customer may withdraw consent given for collecting any information and personally identifiable information that is stored with us, at any time by sending an email to. Once have withdrawn consent to use your personally identifiable information stored with us, we will stop actively processing personally identifiable 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 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.

Reasonable Security Practices and Procedures

The security of Personal Information or Sensitive Personal Data or Information is a priority and will be protected by maintaining physical, electronic, and procedural safeguards that meet applicable laws. The Company shall take reasonable steps and measures to protect the security of the customer’s Personal Information or Sensitive Personal Data or Information from misuse and loss, unauthorized access, modification, or disclosure. The Company will maintain its security systems to ensure that the Personal Information or Sensitive Personal Data or Information of the customer is appropriately protected and follows the extant standard encryption norms followed for the transmission of information. The Company will ensure that its employees and affiliates respect the confidentiality of any personal information held by the Company.

Data Retention

The company will retain your information for the duration required to fulfill our legal obligations, resolve disputes, and enforce our agreements.

Exclusions

Notwithstanding anything mentioned in the Policy, the Policy shall exclude information that is needed to be shared with other s due to extant regulations e.g. credit bureaus, Central KYC Registry, Registrar of Companies and the RBI, and also where the Company is legally bound to disclose information including but not limited to Financial Intelligence Unit, Enforcement Directorate, Income Tax department or as required by a court of law or tribunal.

Contact Information

The Company shall at all times during the tenure of this Agreement, provide dedicated Customer Support and display the details of Customer Support on its website. In order to address any discrepancies or queries related to the personal information residing with the Company, the customer may write to info@arthpaytech.in

Customers not satisfied with the response or resolution from the Customer Support may connect grievance Officer through:

Grievance Officer’s Name: Akash Bhandari
Grievance Support Helpline – 9044052259
Email at grievance@arthimpact.in

The Website & Web-Application operated by the Company shall categorically provide the details of the Customer Support & Grievance Redressal Mechanism established by the Company.`