This Privacy Policy explains how BOF Pay collects, uses, shares, and protects information about you when you use our website, mobile applications, and financial services (collectively, the "Services").
1. Information we collect
We collect information that you provide directly, information we collect automatically when you use the Services, and information from third parties.
Information you provide
- Identity information: full legal name, date of birth, nationality, government-issued ID numbers and images, and proof of address.
- Contact information: email address, phone number, residential and business addresses.
- Financial information: bank account details, payment card information, transaction history, and source of funds.
- Business information: for business accounts, company registration documents, ownership structure, and beneficial owner details.
Information collected automatically
- Device identifiers, IP address, browser type, operating system, and approximate location.
- Usage data, including pages viewed, features used, and timestamps.
- Cookies and similar technologies as described in our Cookie Policy.
2. How we use information
We use your information to provide and operate the Services, verify your identity, comply with anti-money laundering and counter-terrorism financing obligations, prevent fraud, communicate with you, and improve our products.
2A. AI providers and external service partners
BOF Pay may use third-party artificial intelligence (AI) and machine-learning providers to assist with fraud detection, identity verification, customer support, document review, transaction monitoring, language translation, and product improvement. When we share information with these providers, we do so under written agreements that restrict their use of your information to the services they perform for us.
Categories of AI providers we may use
- Identity-verification and KYC providers: to verify government-issued documents and confirm identity.
- Fraud and transaction-monitoring providers: to detect suspicious activity and protect accounts.
- Conversational AI and support providers: to power chat assistants, route inquiries, and draft responses for human review.
- Cloud and infrastructure providers: to host data and run machine-learning models.
What we do not allow
- We do not permit AI providers to use your personal information to train their own general-purpose models, except where strictly necessary to provide the contracted service and where allowed by law.
- We do not sell your personal information to AI providers for monetary consideration.
- We do not allow AI to make solely automated decisions that produce legal or similarly significant effects without a meaningful right to human review, where required by law.
3. How we share information
We share information with: partner banks and payment networks to execute transactions; regulators, law enforcement, and tax authorities where required; identity-verification and fraud-prevention providers; professional advisors (legal, audit, accounting); and successors in the event of a merger, acquisition, or sale of assets. We do not sell your personal information.
4. International transfers
BOF Pay operates globally. Your information may be transferred to and processed in countries outside your country of residence, including the United States and Canada. Where required, we rely on appropriate safeguards such as Standard Contractual Clauses.
5. Data retention
We retain your information for as long as your account is active and for additional periods required by applicable law, including anti-money laundering record-keeping requirements (typically five to seven years after account closure).
6. Your rights
Depending on your jurisdiction, you may have rights to access, correct, delete, or port your personal information, restrict or object to certain processing, and withdraw consent. Residents of the United States should also see our U.S. Privacy Notice. Residents of the EEA, UK, and similar jurisdictions have rights under the GDPR or equivalent laws.
To exercise your rights, contact us at info@bofpay.ai.
7. Security
We use administrative, technical, and physical safeguards designed to protect your information, including encryption in transit and at rest, access controls, and monitoring. No system is perfectly secure, and we cannot guarantee absolute security.
8. Children
The Services are not directed to children under 18 (or the higher age of majority in your jurisdiction). We do not knowingly collect personal information from children.
9. Changes to this policy
We may update this Privacy Policy from time to time. The "Effective" date at the top reflects the latest version. Material changes will be communicated through the Services or by email.
10. Contact us
Questions about this Privacy Policy? Contact our Data Protection Officer at info@bofpay.ai.