Protecting your privacy and personal information is our commitment to you. Learn how we collect, use, and safeguard your data.
VeqtorPay ("we," "us," "our") is a federally regulated Money Services Business (MSB) in Canada. We are committed to protecting the privacy and confidentiality of your personal information. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our services, including money transfers, currency exchange, and other financial services.
By accessing our website, mobile application, or using our services in-person, you consent to the practices described in this policy.
We are responsible for all personal information under our control. We have designated a Privacy Officer who is accountable for our compliance with this policy and applicable privacy laws.
To provide our services and meet our legal obligations as an MSB, we collect the following types of personal information:
Your full name, date of birth, address, email address, and telephone number.
Copies of your driver's license, passport, or other government-issued ID, which may include photo, ID number, and citizenship details.
Bank account numbers, credit/debit card details, transaction history, and source of funds or wealth.
Information about the transactions you conduct with us, including the recipient's name, address, and contact information, the amount sent/exchanged, and the purpose of the transaction.
Your business name, business address, and nature of business (if applicable).
IP address, browser type, device information, and usage data collected through cookies and similar technologies when you use our website or app (for online services).
We collect, use, and disclose your personal information only for identified purposes, including:
To process your transactions, verify your identity, and communicate with you about your transactions.
As an MSB, we are legally required under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) to:
To detect and prevent fraud, money laundering, terrorist financing, and other illegal activities.
To analyze data to improve our website, services, and customer experience (where permissible by law).
To send you promotional communications, only if you have explicitly opted-in to receive them. You can opt-out at any time.
We will obtain your meaningful consent for the collection, use, or disclosure of your personal information, except where inappropriate (e.g., as required by law).
We will obtain your express consent (verbally, in writing, or electronically) for sensitive information and for purposes like marketing.
Your consent may be implied when you provide your information for the obvious purpose of completing a transaction.
You may withdraw your consent for secondary purposes at any time by contacting our Privacy Officer.
We do not sell your personal information.
We may disclose your information in the following circumstances:
We share information with trusted partners who assist us in operating our business, under strict confidentiality agreements.
We may share information with banks and other financial institutions to process your transactions.
We are legally required to disclose information to FINTRAC, other regulatory bodies, and law enforcement agencies when required by law.
In the event of a merger, sale, or transfer of assets, your information may be transferred, subject to the recipient adhering to this policy.
We protect your personal information using physical, technical, and administrative security safeguards appropriate to the sensitivity of the information. These measures include:
Secure facilities and locked filing cabinets
Encryption of data in transit and at rest
Access controls and authentication procedures
Regular security training for our employees
We will retain your personal information only for as long as necessary to fulfill the purposes for which it was collected, or as required by law. As a regulated MSB, we are required to retain certain records, including client identification and transaction records, for a minimum of five to seven years after the completion of a transaction.
You have the right to access the personal information we hold about you and to request a correction if it is inaccurate or incomplete. To make such a request, please contact our Privacy Officer in writing. We will respond within a reasonable timeframe, and may charge a minimal fee for access, where permitted by law.
Please note that in certain situations, we may be unable to provide access to all information, such as when it contains personal information about other individuals, or if it is subject to legal, security, or commercial proprietary restrictions.
If you have any questions, concerns, or complaints about this Privacy Policy or our handling of your personal information, please contact our designated Privacy Officer.
If you are not satisfied with our response, you have the right to contact the Office of the Privacy Commissioner of Canada.
We may update this Privacy Policy from time to time to reflect changes in our practices or the law. We will post the updated policy on our website and indicate the date of the last revision. We encourage you to review this policy periodically.