Paymay Pty Ltd
This Policy applies to Paymay Pty Ltd ACN 137 270 369 (referred to as Paymay, we, our, us) and covers all of its operations and functions.
This Policy outlines Paymays obligations to manage and protect personal information. We are is bound by the Australian Privacy Principles ('APPs') and Guidelines, the Credit Reporting Privacy Code ('the Code') and the Privacy Act 1988 ('Privacy Act'). This Policy also outlines our practices, procedures and systems to ensure compliance with the Privacy Act, APPs, Guidelines and the Code.
- 'Credit information' is personal information (other than sensitive information) that relates to an individual's credit history or credit worthiness, and is further defined in the Privacy Act. Credit information includes information that we have obtained from Third Parties, including individuals, other credit providers and credit reporting bodies ('CRBs'), such as Equifax; Illion.
- 'Disclosure' of information means providing information to persons outside Paymay;
- 'Individual' means all persons whose personal information we collect, use or disclose.
- 'Personal information' means information or an opinion relating to an individual, which can be used to identify that individual;
- 'Sensitive information' is personal information that includes information relating to a person's racial or ethnic origin, political opinions, religion, trade union or other professional or trade association membership, sexual preferences and criminal record, and also includes health information;
- 'Third Parties' mean customers, suppliers, sub-contractors, agents or other people having a commercial relationship with Paymay; and
- 'Use' of information means use of information within Paymay.
2. WHAT KIND OF PERSONAL INFORMATION DO WE COLLECT AND HOLD?
We may collect and hold the following kinds of personal information about individuals:
- date of birth;
- phone numbers;
- email addresses;
- occupation and pay slips;
- bank account details and account statements;
- passports, drivers license, medicare and bank card details;
- marital status and dependents;
financial and credit information, including:
- details of assets, liabilities, income, expenses;
- information about an individual's consumer credit liabilities, such as the name of an entity that has provided the individual with credit, the date of the credit was provided and the maximum amount of credit made available;
- information about an individual's repayment history, such as whether the individual was late in making a monthly repayment and when repayments were due;
- the type and amount of credit sought by an individual in an application;
- whether the individual is 60 days or more overdue in making a repayment of $150 or more;
- whether the individual has repaid overdue payments;
- information about new credit arrangements the individual has entered into as a result of defaulting in repayments;
- information about court judgements against the individual in relation to credit that has been provided to them;
- publicly available information that relates to the individuals credit worthiness;
- information recorded in the National Personal Insolvency Index about the individual;
- our opinion as to whether the individual has committed a serious credit infringement in relation to consumer credit provided by us;
- any other personal information that may impact our assessment of the individual's credit worthiness; and
- any other information that is relevant to the services that we provide.
3. HOW WE COLLECT PERSONAL INFORMATION
We will not collect sensitive information unless the individual has consented or an exemption under the APPs applies. These exceptions include if the collection is required or authorised by law or necessary to take appropriate action in relation to suspected unlawful activity or serious misconduct.
If the personal information we request is not provided, we may not be able to process an individual's application for credit, or meet an individual's needs appropriately.
We do not give individuals the option of dealing with them anonymously, or under a pseudonym. This is because it is impractical, and in some circumstances actually illegal, for us to deal with individuals who are not identified.
4. UNSOLICITED PERSONAL INFORMATION
We may receive unsolicited personal information about individuals, We are required to notify the Privacy Officer of all unsolicited personal information received by them. We destroy or de-identify all unsolicited personal information, unless the personal information is relevant to our purposes for collecting personal information.
5. ABOUT WHOM DO WE COLLECT PERSONAL INFORMATION?
We may collect personal information about the following individuals:
- potential customers;
- service providers or suppliers;
- prospective employees, employees and contractors; and
- other Third Parties with whom we come into contact.
6. WEBSITE COLLECTION
7. WHY DOES PAYMAY COLLECT AND HOLD PERSONAL INFORMATION?
We may collect and hold information about individuals for the following purposes:
- to assist us to provide a product or service to an individual;
- to verify an individual's identity, and your financial situation;
- to assess whether our products or services are suitable for an individual;
- to assess any applications by an individual for credit;
- managing credit provided to an individual, or collecting overdue payments;
- to provide individuals with information about a product or service and also to invite individuals to marketing events;
- to protect our business and other customers from fraudulent or unlawful activity;
- to conduct our business and perform other management and administration tasks;
- to consider any concerns or complaints individuals may have;
- manage any legal actions involving us;
- to comply with relevant laws, regulations and other legal obligations; and
- to help us improve the products and services offered to an individual, and to enhance our overall business.
8. HOW MIGHT WE USE AND DISCLOSE PERSONAL INFORMATION?
We may use and disclose personal information for the primary purposes for which it is collected, for reasonably expected secondary purposes which are related to the primary purpose and in other circumstances authorised by the Privacy Act.
We use and disclose personal information, excluding credit information, for the purposes outlined in section 7 above. Sensitive information will be used and disclosed only for the purpose for which it was provided or a directly related secondary purpose, unless the individual agrees otherwise, or where certain other limited circumstances apply (e.g., where required by law). Such a directly related purpose may also include updated information, such as changed employment details, during the life of a loan (including where a default or fees remain unpaid). You should note that we may need to contact previous employers where this is relevant to a current loan or application.
We engage other people to perform services for us, which may involve that person handling personal information we hold. In these situations, we prohibit that person from using personal information about the individual except for the specific purpose for which we supply it. We prohibit that person from using your information for the purposes of direct marketing their products or services.
In relation to sensitive information held by us, wherever possible, Paymay will attempt to de-identify the information. We also undertake to delete all personal information about an individual when it is no longer needed or relevant.
9. TO WHOM MIGHT WE DISCLOSE PERSONAL INFORMATION?
We may disclose personal information, excluding credit information, to:
- a related entity;
- an agent, contractor or service provider we engage to carry out our functions and activities, such as our lawyers, accountants, debt collectors or other advisors;
- organisations involved in a transfer or sale of all or part of our assets or business;
- organisations involved in managing our payments, payment merchants and other financial institutions such as banks;
- regulatory bodies, government agencies, law enforcement bodies and courts;
- an individual's gaurantors, referee(s), employer, co-account holder or Authorised Signatory; and
- anyone else to whom the individual authorises us to disclose it.
Also If we collect personal information from these organisations and individuals we will deal with that information in accordance with this Policy.
10. HOW MIGHT WE USE AND DISCLOSE CREDIT INFORMATION?
In relation to credit information held by us, we will only use and disclose credit information for the following purposes:
- assessing an application by an individual for credit;
- collecting payments that are overdue in relation to credit provided by us;
- dealing with a serious credit infringement we believe an individual has committed;
- an external dispute resolution scheme of which we are a member;
- the disclosure is required or authorised by law;
- assisting the individual to avoid defaulting on his or her obligations; or
- internal management purposes that are directly related to the provision or management of credit to an individual.
We will only disclose credit information to the following recipients:
- a related body corporate;
- a person who will be processing an individuals application for credit;
- a person who manages credit provided by us for use in managing that credit;
- another credit provider if we believe an individual has committed a serious credit infringement, or the individual has consented to the disclosure;
- to a person considering whether to act as a guarantor or offer property as security and the individual have expressly consented to the disclosure;
- a debt collector;
- a mortgage insurer; or
- a CRB (Credit Reporting Body), such as Equifax or Illion
If we intend to provide default information about an individual to a CRB, we will give the individual at least 14 days written notice. If we disclose default information to a CRB, and the individual subsequently repays the amount owed, we will tell the CRB the individual has repaid the amount owing. We will not disclose credit repayment history information to the CRB which is more than 2 years old.
11. SENDING INFORMATION OVERSEAS
We do not disclose personal information to overseas entities, unless:
- we have taken reasonable steps to ensure the recipient does not breach the Act, the APPs, Guidelines and the Credit Reporting Privacy Code;
- the recipient is subject to an information privacy scheme similar to the Privacy Act; or
- the individual has consented to the disclosure.
12. MANAGEMENT OF PERSONAL INFORMATION
The APPs require us to take all reasonable steps to protect the security of personal information, including credit information. Our employees and credit representatives must respect the confidentiality of the personal information we collect.
We take reasonable steps to protect personal information by storing it in a secure environment. We may store your personal information in paper and electronic form. We will also take reasonable steps to protect any personal information from misuse, loss and unauthorised access, modification or disclosure. In relation to our customer database, we apply the following guidelines:
- data ownership is clearly defined within Paymay, Abaz or Money Plus;
- passwords are routinely checked;
- we change employees access capabilities when they are assigned to a new position;
- employees have restricted access to certain sections of the system;
- the system automatically logs and reviews all unauthorised access attempts;
- the system automatically limits the amount of personal information appearing on any one screen;
- unauthorised employees are barred from updating and editing personal information;
- all personal computers which contain personal information are secured, physically and electronically;
- data is encrypted during transmission over the network;
- print reporting of data containing personal information is limited;
- We have created procedures for the disposal of personal information; and
- personal information is overwritten to the extent possible when the information is no longer required.
Where we no longer require personal information we will take reasonable steps to destroy it.
13. DIRECT MARKETING
Paymay does not use personal information for the purposes of direct marketing, unless:
- the personal information does not include sensitive information; and
- the individual would reasonably expect us to use or disclose the information for the purpose of direct marketing; and
- we provide a simple way of opting out of direct marketing; and
- the individual has not requested to opt out of receiving direct marketing from us.
If the individual would not reasonably expect us to use or disclose the information for the purpose of direct marketing, we may only use or disclose that information for direct marketing if the individual has consented to the use or disclosure of the information for direct marketing or it is impracticable to obtain that consent.
In relation to sensitive information, we may only use or disclose sensitive information about an individual for the purpose of direct marketing if the individual has consented to the use or disclosure of the information for that purpose. We will not use or disclose credit information for the purposes of direct marketing except as mentioned above
Individuals have the right to request to opt out of direct marketing and we must give effect to the request within a reasonable period of time.
Individuals may also request that we provide them with the source of their information. If such a request is made, Paymay must notify the individual of the source of the information free of charge within a reasonable period of time.
14. RETRIEVAL OF BANK STATEMENT DATA
We have nominated Illion bank statements as our external bank statement retrieval provider to retrieve and review your bank statement(s), as required by law to assess your loan application. The below outlines your rights and obligations to using this automated bank statement retrieval service
By entering your login details, you agree to the terms:
- Access to your transaction history and any accounts linked to the internet banking log in details you enter on a read-only base
- Money Plus collects at least 90 days of your transaction history, or such period as required by us.
- We do not hold or store your log-in information.
For further information please visit https://bankstatements.com.au or call (08) 7122 9452
We will not use identifiers assigned by the Government, such as a tax file number, Medicare number, passport number or drivers licence number., for our own file recording purposes, unless one of the exemptions in the Privacy Act applies. Paymay endeavours to avoid data-matching. We do not disclose this information unless permitted by law. We may use Government identifiers to verify your identity when you deal with us.
16. HOW DO WE KEEP PERSONAL INFORMATION ACCURATE AND UP-TO-DATE?
We take reasonable steps to ensure that the personal information, including credit information, we collect, use and disclose is relevant, accurate, complete and up-to-date.
We encourage individuals to contact us in order to update any personal information we hold about them. If we correct information that has previously been disclosed to another entity, we will notify the other entity within a reasonable period of the correction. Where we are satisfied information is inaccurate, we will take reasonable steps to correct the information within 30 days, unless the individual agrees otherwise. We do not charge individuals for correcting the information.
17. YOU HAVE THE ABILITY TO GAIN ACCESS TO YOUR PERSONAL INFORMATION
Subject to the exceptions set out in the Privacy Act, individuals may gain access to the personal information, including credit information, which we hold about them by contacting the Privacy Officer; Rose Gundogan , phone (02) 9676 1974 or e-mail email@example.com. We will provide access within 30 days of the individual's request. If we refuse to provide access, we will provide reasons for the refusal.
The individual will be able to look at his or her personal information at our head office or other offices as agreed beforehand. We will require identity verification and specification of what information is required. An administrative fee for search and photocopying costs may be charged for providing access.
18. UPDATES TO THIS POLICY
This Policy will be reviewed from time to time to take account of new laws and technology, changes to our operations and the business environment.
20. PRIVACY TRAINING
21. NON-COMPLIANCE AND DISCIPLINARY ACTIONS
22. COMPLAINTS HANDLING
We have an effective complaints handling process in place to manage privacy risks and issues.
The incidents/complaints handling process involves:
- handling individual complaints about privacy quickly and effectively, in a way that increases consumer confidence in our privacy procedures; and
- identifying (and addressing) any systemic compliance problems.
Individuals can make a complaint to us about the handling of their personal information, including credit information, by lodging a complaint with the Privacy Officer.
If you are unsatisfied with our response to your complaint, you can contact the Australian Financial Complaints Authority ('AFCA') for an independent review. You can make a complaint by visiting AFCA's website www.afca.org.au.
23. CONTRACTUAL ARRANGEMENTS WITH THIRD PARTIES
Third parties will be required to implement policies to ensure they comply with the Privacy Act, including:
- regulating the collection, use and disclosure of personal and sensitive information;
- de-identifying personal information wherever possible;
- ensuring that personal information is kept securely, with access to it only by authorised employees or agents of the third parties; and
- ensuring that the personal information is only disclosed to organisations which are approved by Paymay.
24. PRIVACY AUDITS
Paymay will conduct periodic privacy audits in order to ensure that it is continuing to comply with its obligations under the APPs.
25. INQUIRIES AND COMPLAINTS
If you have any questions about our privacy procedures, or if you wish to make a complaint about how we have dealt with your personal information (including credit information) you may lodge a complaint with us in any of the following ways:
- by telephoning (02) 9676 1974
- by writing to - Privacy Officer, PO Box 42, Blacktown NSW 2148
- by emailing - firstname.lastname@example.org
26. WHAT IF I AM NOT SATISFIED WITH THE RESPONSE?
If you are not satisfied with the result of your complaint to us you can also refer your complaint to the Office of the Australian Information Commissioner (OAIC).
You can contact the Office of the Australian Information Commissioner:
- by telephoning - 1300 363 992
- by writing to - Director of Complaints, Office of the Australian Information Commissioner, GPO Box 5218, SYDNEY NSW 2001
- by emailing - email@example.com
We are constantly reviewing all of our policies and attempt to keep up to date with market expectations. Technology is constantly changing, as is the law and market place practices.
Updated September 2021