Effective Date: 29th of January 2025
PAYSAAS TECHNOLOGY LTD (hereafter referred as “PAYSAAS”) a limited Private Company, incorporated under the Companies Law of the Republic of Cyprus, Cap. 113, under the given registration number HE 469839. It was incorporated in 2025, as a software platform for e-money and online payments and a provider of software development services.
PAYSAAS TECHNOLOGY LTD ("we," "our," "us") is committed to protecting the privacy of our website users ("you," "your"). This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you visit our website (www.paysaas.com) (the "Site"). Please read this Privacy Policy carefully. If you do not agree with the terms of this Privacy Policy, please do not access the Site.
This website (www.paysaas.com) is owned and operated by PAYSAAS TECHNOLOGY LTD.
1. Collecting Personal Details
We collect personal details that you voluntarily provide to us, including but not limited to:
• Personal details: such as your name, Email Address, Phone Number, Postal Address, date of birth, gender, marital status, copies of your passport, any other information consider necessary for the services of our Company provides.
• Financial and transactional information: Financial and transactional information such as your money transfers, payments, deposits and the source/destination of funds, information about how you use your service, bank and credit information.
• Recipient’s personal information: such as name and contact information relating to recipients to whom you send or from whom you request or receive money or with whom you otherwise choose to transact when the Services.
• Technical information: such as the host from which you access the internet, your IP address or device advertising ID, geolocation if enabled, information about your device (such as device properties, settings, applications, storage and usage information), mobile application, browser and operating system software, social profile and network information, the date and time you access our website.
2. Personal Data Collected from Third Parties
We may also gather information from:
-Payment Service Providers: To process transactions and prevent fraud.
-Credit Bureaus: To assess creditworthiness for certain financial services.
3. International Transfers of Personal Data
Given our global operations, data may be transferred internationally to:
-Partner Financial Institutions: To execute cross-border transactions.
-Regulatory Authorities: To comply with international financial regulations.
4. Personal Details be transferred outside of UK or Europe
As we provide an international service, we may need to transfer your personal data outside the UK or EEA in order to provide you with our services.
For example, if you make an international payment, we will send funds to banks outside the UK or EEA. We may also send personal data outside the UK or EEA to comply with international legal and regulatory requirements, and to provide ongoing support services.
We may send your personal data outside the UK or EEA:
• to comply with international legal and regulatory requirements
• to provide ongoing support services
• to fraud prevention services, regulators or law enforcement authorities
• to enable us to provide you with products or services you have requested
If we transfer your personal data to another country that does not offer equivalent data protection standards to the UK or EEA, we will ensure that your personal data is adequately protected. For example, we will ensure that a contract with strong data protection safeguards is in place before your personal data is transferred. In some cases, you may have the right to ask us for a copy of that contract.
5. Reasons for Collecting Personal Details
We collect personal details for the following purposes:
- To Identify legal person or individuals: To confirm the identity of individuals or legal entities during the onboarding process using personal documents such as passports, ID cards, proof of address, etc.
- To Improve Our Services: To enhance the user experience and improve our services.
- Risk Management: To evaluate the financial or regulatory risk a client may pose through automated scoring systems.
- To personalize your service: To tailor onboarding experiences based on user information, business type, or risk profile.
- To Comply with Legal Obligations: To fulfil legal requirements and regulations.
- Offer Merchant Services: Assisting businesses in payment processing and financial management.
- Transaction Processing: To facilitate payments, refunds, and chargebacks.
- Compliance: To adhere to anti-money laundering (AML) and counter-terrorist financing (CTF) regulations.
6. When the Personal Data Collected
Personal data may be collected under the following circumstances:
• when an individual or organization searches for or uses the services of PAYSAAS entering its website,
• when an individual or organization offers to provide or provides services to PAYSAAS or PAYSAAS provides services to individual or organization,
• when anyone communicates with the PAYSAAS either by telephone, email or other electronic means, or in writing or when providing information containing personal data directly to the PAYSAAS including verbal conversation with staff.
• when an individual or organization conducts an online search, browses, completes an online application, submits a request or in any way connects to the website of PT or another electronic platform or other platform or otherwise.
7. Data Retention
We will retain your personal details only for as long as is necessary for the purposes related to regulations applicable to financial transactions and accounts including those in anti-money laundering, anti-terrorist financing and other laws applicable to us. Otherwise, we will retain your information only if necessary for a specific matter fir tis was collected, or to resolve any query you may raise.
8. Use of Personal Details
Your personal details will be used in the following ways:
Service Provision: To provide and manage our services.
Communication: To communicate with you, including responding to your inquiries and sending information about our services.
Improvement of Services: To better understand your needs and improve our Site and services.
Legal Purposes: To comply with applicable laws and regulations.
Preventions of Fraud, Financial Crime (including Money Laundering) and other unlawful activity.
9. Data Protection Officer (DPO)
We have appointed a Data Protection Officer (DPO) to oversee compliance with this Privacy Policy. If you have any questions or concerns about our use of your personal details, you can contact our DPO at email Address: office@paysaas.com
10. Security and Privacy
We use administrative, technical, and physical security measures to protect your personal information. These measures include:
- Encryption: To protect data transmitted over the internet.
- Access Controls: To restrict access to your personal information to authorized personnel only.
- Regular Audits: To review our data collection, storage, and processing practices to ensure compliance with applicable laws.
However, no method of transmission over the internet or electronic storage is completely secure, and we cannot guarantee absolute security.
11. Rights of the Subject Based on GDPR
Under the General Data Protection Regulation (GDPR), you have the following rights regarding your personal details:
Right to Access:
You have the right to request access to your personal details that we hold. This right is subject to exceptions and access may be refused where, for example, access to the requested information may lead to the disclosure of personal data of third parties or where the disclosure of such information is prohibited by law. In any case, the data subject shall have the right to see the information held by PAYSAAS concerning him or her.
-Right to correct inaccurate and/or complete incomplete personal data
You have the right to request the correction of any inaccurate or incomplete personal details.
- Right to Erasure:
You have the right to request the deletion of your personal details, subject to certain conditions.
- Right to Restrict Processing:
You have the right to request that we restrict the processing of your personal details under certain circumstances.
- Right to Data Portability:
You have the right to receive your personal details in a structured, commonly used, and machine-readable format and to transmit those details to another controller.
- Right to Object:
You have the right to object to the processing of your personal details, including for direct marketing purposes. The request will be evaluated on the basis of the facts and the particular circumstances surrounding it.
- Right to Withdraw Consent:
If the processing of your personal details is based on your consent, you have the right to withdraw consent at any time.
To exercise any of these rights, please contact us at office@paysaas.com
Contact Us
If you have any questions about this Privacy Policy, please contact us at:
PAYSAAS TECHNOLOGY LTD
Email Address: office@paysaas.com
Right to Complain:
Any complaint in relation to the use of personal data by PAYSAAS may be submitted to the Data Protection Officer of Cyprus either in writing or by email with a full description of the circumstances on which the complaint is based. PAYSAAS assures that all related complaints/complaints will be thoroughly investigated. Those affected may also contact the Office of the Commissioner for Personal Data Protection at www.dataprotection.gov.cy.
12.Changes:
This Privacy policy may be amended by PAYSAAS at any time. You can always find the latest version of this notice on our website.
13.Update:
This Policy was last updated on: Thursday, April 10th, 2025, as per Europe’s General Data Protection Regulation (GDPR).