Lite Fintech, LLC
Last updated: January 2020
SECTION 1: COLLECTION AND USE OF INFORMATION
What information does Lite Fintech collect through the MercaDolar platform about me?
When you register on the MercaDolar platform or contact the Company for assistance, support or other requests, to verify your identity we collect the personal information you submit, such as: (i) Name (ii) Date of birth, (iii) Address (street address, region/state, city, country, postal code/zip code) (iv) Gender (v) Profession, (vi) Email address (vii) Phone number, (viii) U.S. government issued identification number/SSN (ix) Passport number. This information will depend on the type of User you are: National or Non-National. Also, if you represent a company we can ask the following information (i) Company name (ii) Company ID number (iii) Billing address, iv) Payment method and finally and (v) Comments and content that you post. We may also collect banking information such as bank statements, proof of income, and funds declarations.
If you submit content to Lite Fintech through the MercaDolar platform, we may also request verification of your identity with a government-issued ID and other information such as (i) name; (ii)address; (iii) e-mail address; (iv) telephone number; (v) content metadata; and (iii) SSN / EIN.
When you visit the Website, we may automatically collect certain information as follows: (i) the Internet Protocol ("IP") address; (ii) browser type; (iii) operating system; (iv) uploads and downloads to the website; (v) profile changes; (vi) content changes; and (vii) payment events.
The e-mails we send you may include a technology (called web beacon) that tells Lite Fintech whether you received or opened the e-mail or clicked on a link in the e-mail. If you do not want us to collect this information from Lite Fintech's marketing emails, you can opt-out of receiving these types of emails.
While using the Services offered by the MercaDolar Wallet, such as: send and receive money between users of the Platform or make transfers to a registered bank account, we will obtain information related to the transaction, namely: (i) when money is sent or requested, we will collect personal data such as: name, email and financial information of the sending and receiving user, as applicable. The level of information collection may vary depending on the service used; (ii) when sending money to a linked bank account, we will collect personal information such as full name, ID number, email address and financial information of the bank account to which the money is being sent; (iii) when using the invite a friend feature, we may collect aggregate contact information; and (iv) if you are invited to participate in non-mandatory online surveys, the aggregate information will only be used to improve our users' experience and help us identify the Services and needs that will be valuable to our customers in the future.
Can Lite Fintech collect additional personal information for purposes unrelated to the Services offered by the MercaDolar platform?
Lite Fintech will not collect additional personal information, nor will it use the personal information collected for purposes unrelated to the Services we provide.
What are cookies and how does Lite Fintech use them?
The “Cookies" are small text files stored by your web browser when you use websites. Cookies and similar technologies help us improve our Services and your experience, see which areas and features of our Services are popular, and count visits. The type of information a cookie collects includes the date and time you visited the Website, your browsing history, your preferences and your user name.
Web beacons are pieces of programming code that can be included in web pages or emails and help deliver cookies, count visits and understand the use and effectiveness of the campaign.
Most web browsers are set to accept cookies by default. If you prefer, you can usually choose to set your browser to delete or reject cookies. Please note that if you choose to delete or reject cookies, this may affect the availability and functionality of our services.
How does Lite Fintech use the information it collects about me?
Lite Fintech through the Platform uses the information we collect about you for the following purposes: (i) verify your identity; (ii) receive payments; (iii) send you necessary communications; (iv) provide you with the Lite Fintech products and services for which you have registered on the Platform and any other services or products you have requested; (v) provide customer service or support; (vi) customize and personalize the website or services and marketing communications so that we can improve them and attract and retain users; (vii) diagnosing problems on the Website; (viii) customizing a website for you; (ix) conducting surveys and market research about our customers, their interests, the effectiveness of our marketing campaigns and customer satisfaction; (x) reducing piracy and copyright and protecting you and Lite Fintech; (xi) investigating and responding to any comments or complaints received from you or others about the Website; (xii) legal claims, for example: copyright claims, compliance, regulatory and research purposes, as necessary; (xiii) send you information about the Platform, new releases, special offers and similar information, and share your information with third parties for their marketing purposes; (xiv) to detect, investigate and prevent fraudulent and illegal activities and protect the rights operated by Lite Fintech and others; (xv) to run online campaigns and display advertisements on the MercaDolar platform based on their potential interests; (xvi) to respond to requests from government or law enforcement authorities conducting an investigation; and (xvii) other lawful uses.
Does Lite Fintech share my personal information?
We will share your personal data between Lite Fintech, partners and future companies for the purposes identified above. The third parties with whom your information may be shared include advertising partners, retailers, research organizations, advertisers, ad agencies, ad networks and platforms, information service providers, publishers, and non-profit organizations.
We will also share your personal data with companies that help us run our business by processing personal data on behalf of Lite Fintech through the MercaDolar platform for the purposes identified above. These companies include payment processing services, fraud monitoring and prevention, email, social networking and other marketing platforms and hosting service providers.
Lite Fintech through the MercaDolar platform may also share your personal information: (i) when you have agreed to share it; (ii) when we are asked to provide information in response to a subpoena, court order, or under requirements under the laws governing Lite Fintech or under applicable legal process; (iii) when we believe in good faith that disclosure is necessary to prevent fraud, defend our applications or websites against attack, or protect the property and safety of Lite Fintech, our customers and users, or the public; and (iv) if we merge with or are acquired by another company, sell the website or business unit, or if all or a substantial portion of our assets are acquired by another company, your information will likely be disclosed to our advisors and any of the buyer's potential advisors and will be one of the assets transferred to the new owner.
We may share or publish aggregate information that does not specifically identify you, such as statistical information about visitors to the Websites or statistical information about how customers use our Services.
SECTION 2: SECURITY AND STORAGE
We understand that the security of your personal information is important. We provide reasonable administrative, technical and physical security controls to protect your personal information. However, despite our efforts, no security control is 100% effective and Lite Fintech cannot ensure or guarantee the security of your personal information.
We may transfer your personal information across national boundaries to other countries in accordance with applicable laws.
How will Lite Fintech protect my data?
We will protect your data with effective security measures based on the risks involved in the use of your information. Similarly, to protect its Users, Lite Fintech urges that no password or information on this website be disclosed or shared. It is understood that access to the Website and the information on it is operated by Lite Fintech and your use of the Website and the Services may be revoked at any time without notice. Lite Fintech through the Platform is committed to providing you with a secure Website and services, therefore, we use the latest and most modern technology and the best standards of the financial industry to protect our users' information, this includes: firewalls and SSL ("Secure Socket Layers"), which also take appropriate measures to safeguard the physical security of our data and servers with a security infrastructure that complies with the United States PCI regulations. Lite Fintech is not responsible for any breach of security or propagation of information that occurs on the servers of third parties that are not part of the Platform and/or its subsidiaries.
How long will my data be retained?
When we process registration data, we do this for as long as you are an active User of the Website or services. When you close your account, we delete certain personal information because we no longer have a business reason for keeping it, relating to your encrypted password and payment account details. However, we generally retain personal information relating to our contract and transactions carried out by you for seven years after your last interaction with us. Where you have licensed perpetual content to us, or have licensed perpetual content from us, we must maintain a record in perpetuity for licensing and royalty management purposes. The proprietary model and versions are also maintained in perpetuity (as certain content rights are perpetual) to license the content, investigate, prevent legal claims and protect the rights of third parties.
When we process personal data for marketing purposes or with your consent, we process it until you ask us to stop and for a short period after that (to enable us to implement your requests). We also keep a permanent record of the fact that you have asked us not to send you direct marketing or to process your data so that we can respect your request in the future.
SECTION 3: OPT-OUT
We and the companies we hire to help market the Websites and services on our behalf may use your information to provide you with content and offers related to the Services we offer.
Where we rely on your consent, you may withdraw that consent, although we may have other legal grounds for processing your information for other purposes. In some cases, we may send you direct marketing without your consent, relying on our legitimate interests. You have the absolute right to opt-out of the direct marketing or profiling we do for direct marketing, at any time by contacting us through our customer support channels.
By opting out, you will no longer receive certain special offers or promotions, but we may continue to send you non-promotional communications, such as those relating to your account or our ongoing business relationships.
Who can I contact if I have questions, concerns or privacy requests?
If you have a question, concern or request for privacy, regarding the receipt of emails, use of web information or use of your personal data for marketing purposes, please contact us at [email protected]
SECTION 5: MISCELLANEOUS. AGE, NON-DISCRIMINATION AND SALE.
By accepting these Terms, you represent that you are of legal age in your state or province of residence.
Furthermore, Lite Fintech will not discriminate against a User because the User has exercised any of the data protection and privacy rights.
Finally, Lite Fintech will not sell User's personal information for any reason or circumstance
SECTION 6: RIGHT TO REQUEST PERSONAL INFORMATION OR ACCESS
Users have the right to request disclosure of their personal information and to receive additional details about the personal information Lite Fintech collects and its purposes of use, including third parties with whom it shares information.
SECTION 7. RESPONSE TIMES
Lite Fintech, shall respond to requests for personal information within 45 days of receiving the request, extendable once for another 45 or 90 days at the time of notification to the User. Additionally, Lite Fintech shall provide the information free of charge, unless the request is manifestly unfounded or excessive. Users may only make requests for information twice a year and only for a period of 12 months.