MyMoney Privacy Policy

WE AT MYMONEY DEEPLY VALUE OUR USERS TRUST & RESPECT THEIR PRIVACY.

his MyMoney Privacy Policy (“Privacy Policy”) provides the User (defined below) with details about the manner in which their data is collected, stored, processed & used by Us (defined below). The User is advised to read this Privacy Policy carefully. By registering on the App (defined below), using any medium: mobile app, website, web app, mobile site or otherwise, the User consents and permits Us to use & disclose their Personal Information (defined below) in the manner and in accordance with the terms set out under this Privacy Policy. If the User does not agree to the terms of this Privacy Policy, the User should refrain from using or accessing the App.

The App should not be used or accessed by minors (persons under the age of 18 years). If the User still wishes to use or access the App, it must be made available to the User by their legal guardian or parents. Notwithstanding the foregoing circumstances, the parent or legal guardian agrees to be bound by this Privacy Policy with respect of a minor child’s use or access to the App.

By accessing, using, downloading or registering on the App, the User agrees and accepts this Privacy Policy. This Privacy Policy is incorporated into and should be read in conjunction with the terms of use governing access and use of the App hosted at https://www.getMyMoney.in/tnc (“Terms of Use”).

“Personal Information” of a person means any information that relates to a natural person, which, either directly or indirectly, in combination with other information available or likely to be available with Us, is capable of identifying such person and includes, (wherever appropriate and/or mandated under applicable laws) personal information categorized as sensitive personal data or information under the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011 as below:

  • password;
  • financial information such as Bank account or credit card or debit card or other payment instrument details;
  • physical, physiological and mental health condition;
  • sexual orientation;
  • medical records and history;
  • biometric information;
  • any detail relating to the above clauses as provided to body corporate for providing service; and
  • Pursuant to [my/our] application for the Facility, [I/we] make this declaration for the benefit and reliance of the Lender and MyMoney.
  • any of the information received under above clauses by body corporate for processing, stored or processed under lawful contract or otherwise.

Sensitive personal data or information that is freely available, accessible in the public domain, or available under the Right to Information Act 2005, is excluded from the scope of this definition.

Note: Our Privacy Policy may be updated periodically without any prior notification. To ensure that the User is acquainted with the updated Privacy Policy, We urge the User to review this Privacy Policy regularly. This Privacy Policy shall apply uniformly to MyMoney’s website, mobile site, web/desktop plugins and mobile applications hosted at https://www.getMyMoney.in (“App”).

Throughout this Privacy Policy, the capitalized terms "MyMoney" "We", "Us" and "Our" refers to IIFL Open Fintech Private Limited, its affiliates and assigns, and the terms “User”, “You”, “Your”, and “Yourself” refer to the users of the App whose Personal Information is being collected in accordance with the terms of this Privacy Policy. MyMoney is providing this Privacy Policy to familiarize the User with:

SCOPE OF THIS PRIVACY POLICY AND ITS APPLICABILITY

This Privacy Policy applies to all forms of Personal Information, physical and digital, whether collected or stored electronically or in hardcopy.

We handle data in Our own right and also for and on behalf of the Users.

If, at any time, a User provides data or other information about someone other than himself, herself or itself, the User warrants that it has that person’s consent to provide such information for the purpose specified.

DEVICE PERMISSIONS

We collect information from and about the web-connected devices the User uses (“Device”) which integrates with our App. By accessing and using the App, the User hereby authorize the App with:

  • Permission to access the Device’s camera

    The App allows the User to scan and upload images/documents with optical character recognition in order to enhance the User experience, instead of requiring the User to manually enter the data or information required to avail the App services. To facilitate the provision of these services by MyMoney to the User, the App requires access to the Device’s camera. The User consents to the access of the Device camera for the facilitation of products/services provided through the App.

  • Permission to read/copy contacts from the Device

    The App, inter-alia, enables the User to create invoices, purchase orders for their vendors and customers and as a means to improve the User’s experience, the App allows the User to automatically add contacts from their Device’s phonebook without compelling the User to manually enter these details in every instance. To facilitate the provision of these services by MyMoney to the User, the App may require access to the contact-book on the User’s Device. The User consents to the access of the contact-book on the Device for facilitation of products/services through the App.

  • Permission to store on the Device:

    The App allows the User to store sales and purchase orders, reports, images, pdfs etc. that are generated from the App on the User’s Device, for the purpose of offline viewing. To facilitate the provision of these services by MyMoney to the User, the App may store information locally on the Device of the User. The User consents to the local storage of information on the Device of the User for the provision of the products/services through the App.

  • Permission to access Device location:

    As a security measure and means to tackle fraud, the App accesses the User’s Device location to validate banking transactions initiated using the App. To facilitate the provision of these services by MyMoney to the User, the App may access the Device’s location. The User consents to the access of the Device location for the facilitation of products/services by MyMoney through the App.

INFORMATION COLLECTED

In order to provide access to the App, We automatically track and collect information such as IP addresses, Domain servers and other information with respect to the User’s Device, interaction of the Device with the App and its applications (“Traffic Data”).

When the User uses the App, We collect and store the User’s Personal Information which is provided by the User from time to time. This allows Us to provide services and features that most likely meet the User needs, and to customize the App to meet the requirements and make the User experience safer and easier. We collect Personal Information from the User that We consider necessary for achieving this purpose.

MyMoney respects the privacy of its Users and is committed to protect such privacy as detailed herein. User may encounter "Cookies" or other similar device on the web page. These are data collection devices to help analyze Our web flow and measure promotional effectiveness. "Cookies" are small files placed on the User’s hard drive that assist MyMoney in providing services and giving the User information targeted to their interests. Most cookies are session cookies, meaning that they are automatically deleted from the User’s hard drive at the end of a session. User is always free to decline a cookie if their browser permits but this may limit the User’s usage and experience on the App.

Once the User creates an account (register) on the App and give Us their Personal Information, the User is no longer anonymous to Us. Wherever possible, We indicate which information fields are required and which information fields are optional. If the User is unable to provide the information We need, We may not be able to provide the User with the product or service they have requested.

Information that We collect from the User would include:

In order to determine the User’s eligibility and enable the products/services offered on the App, We collect and process certain categories of Personal Information belonging to the User, including the following:

  • Personal information like date of birth, age, marital status, birthplace, nationality, mother tongue.
  • Contact information (e.g., name, address, telephone, and email address).
  • Government-issued identifiers, including PAN and GST information.
  • Financial information, including bank account details, credit/debit card details, billing information, and tax information and payroll information (as applicable); and
  • Photographs and signature copies.
  • Information which would help determine the User’s eligibility to avail the services offered on the App.
  • Any other information that MyMoney is required to collect as per specific mandate from any bank, NBFC or as a requirement under applicable law, regulation, rule or statute in India.

In addition to above, for the mobile version of the App, We may collect any other authorization or information that enables MyMoney to provide a smooth mobile experience, including but not limited to: SMS access for auto OTP verification, camera/gallery/contacts access and any other permissions required to enable certain functionalities within the mobile application.

INFORMATION SHARING AND DISCLOSURE TO THIRD PARTIES

MyMoney offers the App services as a technology aggregator. In view of this, disclosure of the User’s Personal Information may be required by Us to provide the User access to Our services, to comply with Our legal obligations, or to prevent, detect, mitigate, and investigate fraudulent or illegal activities related to Our services. We do not disclose the User’s Personal Information to third parties except in accordance with the terms contained herein. We may disclose Personal Information if required to do so by law or in good faith belief that such disclosure is reasonably necessary to respond to subpoenas, court orders, or other legal process.

We may disclose Personal Information to law enforcement offices, third party rights owners, or others in good faith belief that such disclosure is reasonably necessary to: enforce the Terms of Use or this Privacy Policy; respond to claims that an advertisement, posting or other content violates the rights of a third party; or protect the rights, property or personal safety of Our users or the general public.

We may disclose Personal Information to third parties who work on Our behalf, provided that such third parties adhere to the confidentiality obligations in consistence with this Privacy Policy. These third parties are authorized to use the User’s Personal Information only as necessary to provide the App services requested or availed by the User. These services may include providing cloud computing infrastructure, App crash reporting, App usage pattern so that We can serve the User better and provide customer support or account administration services.

PURPOSE OF COLLECTION AND USAGE OF PERSONAL INFORMATION

User’s Personal Information is particularly pertinent for identity verification and to authenticate the User’s submissions made on the App. We may use the User Personal Information (except financial information) to ascertain the other services more relevant to the User’s interests and needs, to determine the statistical analysis of the characteristics, behaviors and demographics of Our users, solely for the promotion of Our business activities and services. We may use the User’s Personal Information to communicate with respect to the services obtained by the User or other services that may be of interest to the User. We may further use the User’s Personal Information for business and research purposes, including improving and customizing the App for the User’s ease of use of the App and the services thereto. We may also use the User’s Personal Information in an aggregated and anonymized manner to receive feedback on the App and responses on the usage of the services.

DATA RETENTION

We will retain the User information for as long as the account is active or as needed to provide the App services. We shall retain and use the information collected by Us as necessary to comply with our legal obligations, to resolve disputes or for other business purposes. If the User cancels/ deactivates/unsubscribes their account with Us, We are not under any obligation to retain the User information. Without prejudice, We may retain the User information for a period of twelve (12) months after the User cancels/ deactivates/ unsubscribes the User account with Us to ensure compliance with applicable laws.

INFORMATION SECURITY

User should be mindful of all security risks, including possible third-party interception of any of the User’s transactions and statements of account on the internet and the content of their transactions or statements of account becoming known to third parties. User agrees and undertakes that the User shall not hold MyMoney liable therefore in any way. The use and storage of any information, including without limitation, the credit card number, PIN, password, account information, transaction activity, account balances and any other information available or stored on the User’s Device is at their own risk and responsibility. User furthermore acknowledge and accept that MyMoney may not encrypt all content or communications from and to the User website(s).

USER RIGHTS IN RELATION TO SENSITIVE PERSONAL DATA OR INFORMATION COLLECTED BY US

User has the right to withdraw consent at any time in writing by sending an e-mail to Us at letstalk@getmymoney.in accordance with the terms of this Privacy Policy. However, please note that withdrawal of consent will not be retrospective in nature and shall be applicable prospectively within 3 (three) working days from the date of receipt of withdrawal email.

User may write to Us at letstalk@getmymoney.in to access, review, modify or correct their sensitive personal data or information or withdraw the User’s consent to provide sensitive personal data or information. We are not responsible for the authenticity of the information provided by the User.

User agrees and acknowledges that the right to access, modify and/or withdraw their consent to provide sensitive personal data or information as mentioned above may be denied or limited by Us, as may be required under any applicable law, law enforcement requests or under any judicial proceedings.

LINKS TO OTHER SITES

Links to third-party advertisements, third-party websites or any third-party electronic communication service which are operated by third parties may be provided on the App. Such links may not be controlled by, or affiliated to, or associated with, MyMoney unless otherwise expressly specified on the App.

We are not responsible for any form of transmission, whatsoever, received by the User from any third-party website. Accordingly, We do not make any representations and warranties concerning the privacy practices or policies of such third parties or terms of use of such third-party websites, nor do We control or guarantee the accuracy, integrity, or quality of the information, data, text, software, music, sound, photographs, graphics, videos, messages or other materials available on such third-party websites. The inclusion or exclusion does not imply any endorsement by Us of the third-party websites, the website's provider, or the information on the third-party website. The information provided by the User to such third-party websites shall be governed in accordance with the privacy policies of such third-party websites, and it is recommended that the User reviews the privacy policy of such third-party websites prior to using such websites.

ACKNOWLEDGEMENTS

User hereby agrees that the application and copies of all documents submitted by the User are and shall remain the sole and exclusive property of MyMoney and/or its service providers / partners / banks and financial institutions (“Business Partners”) with whom MyMoney has partnered with in provision of the services on the App, and MyMoney and/or its Business Partners shall not be obliged to return the same to the User upon their request. Any unauthorized access to the App is a breach of these terms and a violation of the law. User agrees not to access the App by any means other than through the interface that is provided by Us.

User hereby acknowledges and agrees that this Privacy Policy:

  • is clear and easily accessible and provide statements of policies and practices with respect to information security;
  • provides for the various types of personal or sensitive personal data of information to be collected;
  • provides for the purposes of collection and usage of the information;
  • provides for disclosure of information; and
  • provides for reasonable security practices and procedures.
  • If the User has any questions in respect of this Privacy Policy, the User may write to the Grievance Officer appointed under the Act:
    Nodal Officer
    IIFL House, Sun Infotech Park, Road No.16V,
    Plot No. B23, Thane Industrial Area,
    Thane, Maharashtra – 400604, India
    E-mail: nodalofficer@getMyMoney.in
GOVERNING LAW, JURISDICTION AND DISPUTES

Without prejudice to the provisions mentioned below, these Terms are subject to the laws of India and any disputes arising out of or in connection with the Terms will be subject to the exclusive jurisdiction of the competent courts at Mumbai, India.

ENTIRE AGREEMENT

The Terms of Use and this Privacy Policy jointly constitutes the entire agreement between the User and Us and governs the User’s use of the App and the services thereto.