PRIVACY STATEMENT

This notice explains how we obtain, use and disclose your personal information, in accordance with the requirements of the Protection of Personal Information Act (POPIA).

At IOU (and including this website) we are committed to protecting your privacy and to ensure that your personal information is collected and used properly, lawfully and transparently.

The information we collect

We collect and process your personal information primarily for the purposes delivering the peer-to-peer IOU services to you. For this purpose, we will collect contact details including (but not necessarily limited to) your name, mobile number and email address.

We collect information directly from you where you provide us with your personal details, or from a contact of yours that invites you to the service. Where possible, we will inform you what information you are required to provide to us and what information is optional.

How we use your information

We will use your personal information only for the purposes for which it was collected and agreed with you. In addition, where necessary your information may be retained for legal or research purposes.

For example:

• - To confirm and verify your identity or to verify that you are an authorised user for security purposes;
• - For the detection and prevention of fraud, crime, money laundering or other malpractice;
• - To conduct market or customer satisfaction research or for statistical analysis;
• - For audit and record keeping purposes;
• - In connection with legal proceedings.

Disclosure of information

We may need to disclose your personal information to our service providers who are involved in the delivery of products or services to you. We will have agreements in place with such providers to ensure that they comply with the privacy requirements as required by the Protection of Personal Information Act.

We may also disclose your information to third parties:

• - Where we have a duty or a right to disclose in terms of law or industry codes;
• - Where we believe it is necessary to protect our rights.
• - With your consent for marketing purposes relevant to you.

Information Security

We are legally obliged to provide adequate protection for the personal information we hold and to stop unauthorized access and use of personal information. We will, on an ongoing basis, continue to review our security controls and related processes to ensure that your personal information remains secure, including:

• - Physical security;
• - Computer and network security;
• - Access to personal information;
• - Secure communications;
• - Security in contracting out activities or functions;
• - Retention and disposal of information;
• - Acceptable usage of personal information;
• - Governance and regulatory issues;
• - Monitoring access and usage of private information;
• - Investigating and reacting to security incidents.

When we contract with third parties, we impose appropriate security, privacy and confidentiality obligations on them to ensure that personal information that we remain responsible for, is kept secure.

We will ensure that anyone to whom we pass your personal information agrees to treat your information with the same level of protection as we are obliged to.

Your Rights: Access to information

You have the right to request a copy of the personal information we hold about you. To do this, simply contact us through the Feedback option under Settings on the IOU app and specify what information you require. We may need to further verify your identity before providing details of your personal information.

Please note that any such access request may be subject to a payment of a legally allowable fee.

Correction of your information

You have the right to ask us to update, correct or delete your personal information. In most cases, you will be able to update your information through the IOU app, but otherwise, we may need to verify your identity before making changes to personal information we may hold about you. We would appreciate it if you would keep your personal information accurate.

Definition of personal information

According to the Act, 'personal information' means information relating to an identifiable, living, natural person, and where it is applicable, an identifiable, existing juristic person.

How to contact us

If you have any queries about this notice; you need further information about our privacy practices; wish to withdraw consent; exercise preferences or access or correct your personal information, please contact us through the Feedback option under Settings on the IOU app.