Welcome
FinVentures© provides technology for payment transfers through merchant Point-of-Sale (POS) and online payments. Businesses use our technology to facilitate payments and manage online Services.
The Privacy Policy illustrates the Personal Data that FinVentures collects, how it is used, and how to reach us for privacy-related questions or concerns. This policy also illustrates your rights, as consumers, and the choices you have. This includes the right to object to usage of your Personal Data.
FinVentures oversees control of the data and processing the data. We are a payment facilitator in the card payment services industry. Please contact us for more details about our privacy practices, our role and responsibility under this Policy, and our legal bases for processing your Personal Data.
Disclaimer
The materials provided by FinVentures are intended for general informational and educational purposes only. They do not constitute legal, regulatory, or professional advice and should not be relied upon as such. While reasonable efforts are made to ensure accuracy, the information may not reflect the most current legal or regulatory developments and is subject to change without notice.
Defined Terms
"FinVentures", "we", "our," or "us" refers to FinVentures acting through its designated Privacy Officer responsible for the collection, use, disclosure, and safeguarding of Personal Data as described in this policy.
"Personal Data" means any information relating to an identified or identifiable individual. This includes information that you provide directly to us, as well as information we collect in the course of providing our Services, such as device identifiers, IP addresses, and other technical or usage information.
"Services" refers to the products, platforms, devices, applications, and solutions provided by FinVentures pursuant to the FinVentures Merchant Services agreement, including our websites (such as finventures.ca) and other FinVentures-operated online Services. FinVentures provides these Services as part of its business solutions to commercial entities ("Merchants").
"Financial Partners" refers to financial institutions, banks, and other third party partners, including payment acquirers, payout providers, and card networks, with whom FinVentures collaborates to deliver the Services.
"You" refers to any individual interacting with the Services, including, Merchants, their representatives, and end users such as cardholders.
"Transaction Data" refers to information collected and processed by FinVentures to facilitate transactions requested through the Services. Transaction Data may include Personal Data, such as your name, email address, telephone number, billing and shipping address, payment method information (including credit or debit card details, bank account information), merchant and location information, transaction amounts, and dates.
How We Collect and Use Personal Data
FinVentures will only collect, retain and use personal card information for the purposes of completing a transaction, and the settlement, clearing and reconciliation of the transaction.
Where We Are Accountable
FinVentures will protect all Personal Data held by our organization, including any Personal Data transferred to a third party for processing, such as an acquirer or an issuer.
FinVentures collects, uses, and retains Personal Data only to the extent necessary for business purposes, in accordance with the principles of data minimization. Personal Data that is retained within FinVentures' systems is protected using appropriate safeguards to prevent unauthorized access, disclosure, or misuse.
For all data that is entered into our environment, we ensure strict data retention practices with disposal and security measures in place through our data security policies.
If you require further information on this, please contact us through the information below.
Purpose of Information
The Personal Data required to be collected to fulfill a transaction is as follows:
- Transaction data
- Card data
- Merchant data
When a cardholder makes a payment in person or online, they provide their Card Data at the time of the transaction. This may include details such as account details, name, and address. Transaction data is shared within the payment network to complete, process, and settle the transaction. FinVentures processes only the minimum Transaction Data necessary to provide its Services.
We ensure that this information will not be shared, distributed, or used for any purpose other than the transaction, settlement, and reconciliation of the transactions with the issuer and merchant.
Consent
FinVentures' approach to obtaining consent is determined by the context and the type of information being collected. For transactions, the act of using a payment card constitutes implied consent for the organization to process the Card Data solely for the purpose of completing the transaction. FinVentures only uses Transaction Data for specific purposes required to operate its Services and does not use it for any other purposes.
This means that, by using their card, cardholders give FinVentures consent to use their Card Data for transactions.
Disclosures & Retention
FinVentures will only use the Card Data for the purpose for which it was intended. Furthermore, FinVentures will only retain the data for as long as it is required to facilitate transactions, settlement and reconciliation, and reporting to the merchant.
Retention is dependent on the settlement and reconciliation processes, monitoring compliance, and reporting processes for the merchant. The data is retained in a secure environment.
In cases where we keep your Personal Data, we do so in accordance with any limitation of periods and record retention obligations imposed by applicable law.
Accuracy
Personal Data of the cardholder must be as accurate, complete, and up to date as possible to properly satisfy the purposes for which it is to be used. FinVentures does not need to be updated on the data after the completion of the transaction.
FinVentures does not retain Personal Data after the transaction, settlement, reconciliation and reporting to the merchant has been completed.
Safeguarding Information
Personal Data will be protected by appropriate security relative to the sensitivity of the information. FinVentures protects Card Data through appropriate physical, technical, and organizational safeguards. This includes secure technologies, access controls, and employee training designed to prevent unauthorized access or misuse.
Access
Any individual or entity has access to our privacy policies and procedures. As a consumer of our technology, an individual or entity must be informed of the existence, use, and disclosure of their Personal Data and be given access to that information. Further to this, said individual or entity shall be able to challenge the accuracy and completeness of the information and have it amended as appropriate.
Contact Us
If you have any questions or complaints about our Privacy Policy, please contact us. An individual or entity can challenge FinVentures' compliance. The challenge will be addressed to our Privacy Officer.
Mifrah Batool
Compliance and Regulatory Lead, FinVentures
Email: compliance@finventures.ca
Website: FinVentures.ca