Privacy Policy
Your privacy is important to us. This policy explains how we collect, use, and protect your personal information.
Last Updated: January 15, 2024
Table of Contents
Capsule Technologies Limited ("Capsule," "we," "us," or "our") is committed to protecting your privacy. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our mobile application and services (collectively, the "Services").
By accessing or using our Services, you agree to the Privacy Policy. If you do not agree with the terms of this Privacy Policy, please do not access or use our Services.
1. Information We Collect
1.1 Personal Information
We collect personal information that you voluntarily provide to us when you register for an account, use our Services, or contact us. This may include:
- Full name, email address, phone number
- Business name, business registration number, tax identification number
- Date of birth, government-issued ID information
- Bank account details, payment card information
- Business address, billing address
- Profile photo and other profile information
1.2 Financial Information
To provide bookkeeping, payment processing, and funding services, we collect:
- Transaction data (invoices, receipts, payments)
- Financial statements and accounting records
- Credit scores and credit history
- Loan application information
- Banking and payment processing data
1.3 Automatically Collected Information
When you use our Services, we automatically collect certain information, including:
- Device information (device type, operating system, unique device identifiers)
- Usage data (features used, time spent, interactions)
- Location data (IP address, GPS location with your permission)
- Log data (access times, pages viewed, app crashes)
- Cookies and similar tracking technologies
1.4 Information from Third Parties
We may receive information about you from third parties, such as credit bureaus, identity verification services, financial institutions, and business partners, to verify your identity, assess creditworthiness, and provide our Services.
2. How We Use Your Information
We use the information we collect for the following purposes:
- Provide Services: To create and manage your account, process transactions, provide bookkeeping and financial management tools, facilitate payment processing, and connect you with funding opportunities.
- Verify Identity: To verify your identity and business information, comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.
- Credit Assessment: To assess your creditworthiness, generate credit scores and reports, and facilitate funding applications.
- Improve Services: To analyze usage patterns, improve our Services, develop new features, and enhance user experience.
- Customer Support: To respond to your inquiries, provide technical support, and resolve issues.
- Marketing: To send you promotional materials, newsletters, and updates about our Services (with your consent).
- Security: To detect, prevent, and address fraud, security breaches, and other harmful activities.
- Legal Compliance: To comply with legal obligations, enforce our Terms of Service, and protect our rights and the rights of others.
3. Information Sharing and Disclosure
We may share your information in the following circumstances:
3.1 Service Providers
We share information with third-party service providers who perform services on our behalf, such as payment processors (e.g., Paystack and Flutterwave), cloud hosting providers, analytics providers, identity verification services, and customer support platforms. These providers are contractually obligated to protect your information and use it only for the purposes we specify.
3.2 Financial Institutions
We may share financial information, credit scores, and business data with banks, microfinance institutions, and other funding partners to facilitate funding applications and loan processing, with your consent.
3.3 Legal Requirements
We may disclose your information if required by law, court order, or government regulation, or if we believe disclosure is necessary to protect our rights, your safety, or the safety of others, to investigate fraud, or to respond to a government request.
3.4 Business Transfers
In the event of a merger, acquisition, reorganization, or sale of assets, your information may be transferred. We will notify you of any such change and provide choices regarding your information where required by law.
3.5 With Your Consent
We share information with third parties when you give us explicit consent to do so.
4. Data Security
We implement industry-standard security measures to protect your information, including:
- Encryption: Data in transit and at rest is encrypted using SSL/TLS protocols.
- Secure storage: Access controls and authentication protect stored data.
- Security audits: Regular security audits and vulnerability assessments.
- Compliance: We adhere to ISO 27001, ISO 22301, PA DSS, and PCI DSS standards where applicable.
- Training: Employee training on data protection and security best practices.
- Multi-factor authentication: Available for account access where supported.
No method of transmission over the internet or electronic storage is 100% secure. While we strive to protect your information, we cannot guarantee absolute security. You are responsible for maintaining the confidentiality of your account credentials.
5. Your Rights and Choices
You have the following rights regarding your personal information:
- Access: Request access to the personal information we hold about you.
- Correction: Request correction of inaccurate or incomplete information.
- Deletion: Request deletion of your personal information, subject to legal and contractual obligations.
- Portability: Request a copy of your data in a structured, machine-readable format.
- Opt-Out: Opt out of marketing communications by clicking the unsubscribe link in our emails.
- Withdraw Consent: Withdraw consent for processing where consent is the legal basis.
- Object: Object to certain types of processing, such as direct marketing.
To exercise these rights, contact us at privacy@capsule.com.ng. We will respond within 30 days.
6. Children's Privacy
Our Services are not intended for individuals under the age of 18. We do not knowingly collect personal information from children under 18. If you are a parent or guardian and believe your child has provided us with personal information, please contact us at privacy@capsule.com.ng and we will delete such information from our systems.
7. Third-Party Services and Links
Our Services may contain links to or integrate with third-party websites, applications, or services. We are not responsible for the privacy practices of these third parties. We encourage you to review their privacy policies before providing any personal information.
We integrate with, among others:
- Payment processors (e.g., Paystack, Flutterwave)
- Banking APIs and financial data aggregators
- Credit bureaus and identity verification services
- Cloud storage providers (e.g., AWS, Google Cloud)
- Analytics and marketing platforms
9. Data Retention
We retain your information for as long as necessary to provide our Services, comply with legal obligations, resolve disputes, and enforce our agreements. When no longer required, we securely delete or anonymize your data.
10. International Transfers
Your information may be transferred to and processed in countries other than your country of residence. We ensure appropriate safeguards are in place to protect your information in accordance with this Privacy Policy and applicable law.
11. Changes to This Policy
We may update this Privacy Policy from time to time. We will notify you of material changes by posting the updated policy on this page and updating the "Last Updated" date. Your continued use of our Services after changes constitutes acceptance of the updated policy.
12. Contact Us
If you have questions about this Privacy Policy or our privacy practices, please contact us at:
Capsule Technologies Limited
Email: support@capsule.com.ng
Website: capsule.com.ng