Privacy policy

Introduction

Our Privacy Policy provides essential information about how we manage and protect the personal data of our users (“Users”). The submission of information through registration or payment forms—whether by Users themselves or third parties acting with proper authorization—constitutes acknowledgment and acceptance of this Privacy Policy. We strongly encourage you to review it thoroughly.

Payelu provides advanced technological and financial infrastructure for online platforms, which necessitates the collection and use of personal data. Our services empower businesses of all sizes to receive and process payments, manage online transactions, and operate their digital platforms efficiently, while enabling seamless interactions for end users.

At Payelu, we prioritize your privacy and are fully committed to protecting your personal data. Acting as either the controller or processor of your data, we adhere to strict confidentiality practices in compliance with Panamanian Law No. 81 of 2019 on Personal Data Protection. This commitment continues even after our business relationship ends. Personal data will be used exclusively for the purposes for which it was collected.

Scope of This Privacy Policy

1. The types of personal data we collect.
2. How we use, share, and safeguard the data.
3. Your rights as a data subject.
4. How to contact us regarding privacy concerns.

Transparency is central to our approach. Should you have any questions or concerns about this Privacy Policy, feel free to reach us at compliance@payelu.com

The terms “we,” “our,” or “us” refer to Payelu, a company responsible for the collection and processing of personal data in alignment with Panamanian privacy laws. The term “Services” refers to the products, technological tools, and solutions we offer to businesses and individual Users.

Services and Data Use

Our “Business Services” enable companies to process the personal data of their clients (“End Clients”) as part of their operations. This Privacy Policy applies to personal data collected directly by Payelu through our platform, as well as to data provided to us by our clients.

When Payelu acts as the controller, we determine the purposes and means of processing personal data collected from our Users. When acting as a processor, we handle data on behalf of our clients, adhering to their instructions and all applicable privacy regulations.

Commitment to Data Protection

Payelu processes personal data with the utmost confidentiality and uses advanced technical, legal, and organizational measures to ensure its security. This includes preventing unauthorized access, alteration, or disclosure of personal data. These measures comply with Panamanian data protection laws and are continuously updated to address evolving risks.

This Privacy Policy governs the personal data that Payelu collects through its platform or receives from its clients as part of the services it provides. In this context, Payelu acts as the data controller only when it collects personal data directly from Users via its platform. When personal data is provided by its clients, Payelu acts as a data processor, handling the data strictly according to client instructions.

Commitment to Confidentiality and Data Security

Payelu ensures the confidentiality of Users’ personal data. It implements appropriate technical, technological, legal, and organizational measures to secure the data, prevent unauthorized access, and protect it from alteration, loss, or unauthorized processing.

These measures are developed considering factors such as the scope, context, and purpose of the data processing, along with the current state of technology and identified risks, in compliance with Panamanian Law No. 81 of 2019 on Personal Data Protection.

Consent for Data Processing and Transfer

By accepting this Privacy Policy (the “Policy”), Users confirm that they have read and understood its terms and freely, priorly, and explicitly consent to their personal data being processed. Clicking the “Accept” button signifies agreement with the terms of this Policy, making it legally binding for the User.

Users are responsible for ensuring the accuracy, validity, and authenticity of the personal data they provide. Payelu reserves the right to exclude Users who provide false or incomplete data from its services.

In cases of false, incorrect, or incomplete information, Payelu may terminate services, and Users agree to indemnify and hold the company harmless from any claims, complaints, or legal actions arising from the inaccuracy of the data provided.

Authorization for Data Processing and Sharing

Users acknowledge that they have been informed of and authorize Payelu to collect, process, and transfer their data as described in this Policy and in compliance with Panamanian privacy regulations.

Personal data will not be shared with third parties for purposes beyond those consented to by the User. However, contractors, suppliers, business partners, or other entities associated with Payelu—whether operating locally or internationally—may access personal data solely to deliver the services effectively. Any such data sharing will be governed by appropriate contracts and comply with applicable privacy laws.

Sharing of Personal Information

Payelu may share your personal information under the following circumstances:

• With third parties to provide, maintain, and improve our services.
• To comply with subpoenas, court orders, or other legal obligations.
• To investigate, prevent, or respond to violations of our Terms and Conditions, illegal activities, suspected fraud, or situations that could threaten the rights, safety, or security of individuals or the platform.
• Aggregated or anonymized data may be shared with third-party partners for marketing, analysis, or other lawful purposes.
• To address claims that advertisements or other content violate third-party rights.
• In emergencies, to protect the health and safety of Users, the platform, or the general public.
• As required by applicable laws or regulations governing this contract.

User Responsibility for Data Accuracy

Users must notify Payelu promptly of any changes to their personal data and are responsible for ensuring the information they provide is truthful, accurate, current, and complete. Payelu is not liable for any inaccuracies or falsifications in the data provided by Users.

Exercising Your Data Rights

As the owner of personal data, Users have the right to:

• Access their data.
• Update or include new information.
• Rectify inaccuracies.
• Revoke consent for processing.
• Request deletion of their data, in compliance with applicable Panamanian regulations.

Users can exercise their rights by contacting us via email at compliance@payelu.com.

Use of Personal Data

The collection and use of personal data depend on the context in which you interact with Payelu. Depending on your relationship with us, you may be categorized as:

1. End User: If you interact with a business that uses our services but do not engage directly with Payelu.
2. Client: If you represent an existing or potential business user of our services.
3. Visitor: If you visit our site without logging into an account or interacting directly with us.

For the purposes of this Policy, all End Users, Clients, and Visitors are collectively referred to as “Users.”

Personal Data Subject to Processing

The processing of Users’ personal data by Payelu is conducted with the free, prior, informed, explicit, and unequivocal consent of the User or End User, as applicable. This consent may be provided in writing or through other verifiable means. The types of data we collect include:

1. Registration and Contact Information: This includes your name and account access details. We may also receive information about you from third-party providers to facilitate advertising, marketing, and communication. Additionally, we may use your location data to offer relevant services and information.
2. Identification Information: This includes your name, postal address, telephone number, date of birth, email address, IP address, bank account details, tax identification (TAX ID), and other identifiers required to comply with regulatory and financial partner obligations.
3. Forms: When you complete forms on the Payelu platform, we collect the data you provide. Location data may also be processed where applicable.
4. Transaction Data: This includes transaction details and your history with business clients. We may also collect information entered on payment forms, even if the transaction is not completed.

Failure to provide certain data may result in Payelu being unable to offer some or all of its services, as the absence of such data may prevent service delivery.

How We Use and Share Personal Data

The processing of Users’ personal data is conducted for the following purposes:

1. Service Provision: To deliver services to our clients using Users’ personal data. This includes functions such as security, sanctions monitoring, delivery, support, personalization, and communications related to the service.
2. Payment Processing: Transaction data is used to process online payments, calculate taxes, issue invoices, and manage accounting tasks.
3. Fraud Prevention: We use personal data to detect and prevent fraudulent activities for the benefit of business users and financial partners. Cookies and similar technologies may also be used to enhance security.
4. User Interaction: Data collected when you interact with our site is used to respond to inquiries and provide support.
5. Service Facilitation: Personal data may be shared with parties related to Payelu, such as:

• Banks, digital wallets, and payment providers: To execute transactions as instructed.
• Identity verification providers: To confirm User identities using secure technological tools.
• Electronic signature providers: To enable digital signature functionality for applicable documents.

1. Marketing and Communication: Personal data may be used to advertise, market, and communicate relevant services to you.
2. Other Purposes: As outlined in this Privacy Policy.

Payelu does not store Users’ bank access passwords on its servers.

Retention and Protection of Personal Data

Users’ personal data is retained only for as long as necessary to fulfill the purposes described in this Policy or to comply with legal and contractual obligations. If the User requests data deletion, the data will be blocked and no longer actively used. However, it may be retained for:

• The exercise or defense of legal claims.
• Compliance with judicial, legal, or contractual responsibilities requiring its recovery.

Payelu takes robust technical and organizational measures to protect personal data from unauthorized access, alteration, or disclosure, in compliance with Panamanian Law No. 81 of 2019 on Personal Data Protection.

User Rights

As the owner of personal data, the User has the following rights under Panamanian Law No. 81 of 2019 on Personal Data Protection:

1. Right to Information and Access: To obtain clear and comprehensive details regarding the processing of their personal data.
2. Right to Update and Inclusion: To request updates or add new information to their existing personal data.
3. Right to Rectification: To correct any inaccuracies or errors in their personal data.
4. Right to Cancellation and Deletion: To request the deletion of their personal data when it is no longer necessary for the purposes for which it was collected or when permitted by applicable regulations.
5. Right to Revoke Consent: To withdraw previously granted consent for the processing of personal data.
6. Right to Know the Use of Data: To understand how their data is used and shared.
7. Right to Oppose Processing: To object to certain processing activities when legally applicable.

The User may exercise these rights by sending an email to compliance@payelu.com. Requests must include proof of the User’s identity or that of their accredited legal representative.

Obligations Regarding Transferred Data

If a User’s personal data has been transferred to third parties, Payelu will be responsible for ensuring any updates, inclusions, deletions, or rectifications are communicated to the relevant parties. This ensures that such data is updated or blocked for access as necessary during the process.

Submitting a Request to Exercise Rights

When Payelu acts as the collector of personal data, Users must include the following information in their request:

• Full name(s) and surname(s) of the data owner and their legal representative, if applicable.
• A clear and specific description of the request.
• A physical or electronic address for notifications.
• Date and signature of the applicant.
• Supporting documents related to the request, if applicable.

Process for Handling Requests

Upon receiving a request, Payelu will:

• Register and acknowledge the request.
• Review the submission for completeness.

If the request does not meet the requirements, Payelu will notify the User of the necessary corrections within five (5) business days from the date of receipt.

The User will have a maximum of five (5) additional business days to make the corrections. If the corrections are not completed within this timeframe, the request will be considered invalid and not processed further.

Requests that meet all requirements will be processed promptly and in accordance with Panamanian privacy regulations.

Changes to the Privacy Policy

This Privacy Policy is subject to periodic updates and modifications. Payelu advises all Users to review it regularly when accessing our platform or using our services. Notifications about significant updates will be provided on our website.

If modifications alter the purposes for which personal data is used, Users will be required to provide renewed consent that is free, prior, informed, explicit, and unequivocal. For questions or concerns about policy changes, Users may contact us at compliance@payelu.com

Sufficient Powers

Users who act on behalf of another party, whether a natural or legal person, declare that they have sufficient authority to obligate themselves under this Privacy Policy. Such Users also confirm their legal authority to provide data on behalf of their clients and to assume all obligations outlined in this Privacy Policy.

If a User lacks sufficient authority, they will personally bear full responsibility for any declarations or actions involving the personal data of third parties, along with the obligations and consequences arising from such actions.