Privacy Policy

Effective Date: January 8, 2024

At Nexo, we consider the protection of your Personal Data to be of utmost importance. This Privacy Policy aims to clarify how Nexo and its affiliates (collectively referred to as "Nexo," "we," "us," or "our") handle the Personal Data they receive or collect. If you are a Customer, please note that this Privacy Policy is incorporated by reference into the Nexo Service Agreement between you and Nexo, along with our Data Processing Agreement.

1. Our commitment:

This notice is important to us. We are committed to taking steps to protect your privacy when you use our website (www.nexo.app) or use any of our web or mobile applications (collectively the “Appˮ) and implementing business practices that comply with all relevant legislation, including the Protection of Personal Information Act 4 of 2013 ("POPIA") and the EU General Data Protection Regulation (“GDPR"). This policy explains how we will use and protect your personal information.

2. What is personal information?

If we refer to "personal information" or "information" in this policy, we mean personal information as defined in POPIA. It includes, for example, your full name, surname, email address, identity number, contact details, location, and biometric information, such as measurements of your fingerprints, voiceprint, eye retinas, irises, facial/face geometry, or other unique biological patterns or characteristics (your “unique biological patterns or characteristicsˮ).

3. Information we collect about you

We generally collect, store and use the following information: your first name(s), surname, address, phone numbers, e-mail address, IP address or cookie information, location information, demographic information including your age and gender, health-related information, your unique biological patterns or characteristics, information from your browser including your hardware model, operating system version, unique device identifiers and any other information which we reasonably need to perform our obligations in terms of the agreement with you when you purchase or use our services. When you use our services, we also record the details of your transactions.

4. Sources of information we collect about you include:

We collect information about you from the following categories of sources:

You directly, when you sign up to become a Nexo customer ;
Your devices (e.g. computers, mobile phones and tablets) when you interact with our App and Services;
Other sources, including:

Online advertising and third party analytics companies;
Credit reference agencies, identity verification agencies and other service
providers who help us with third-party identity verification, credit confirmation
and fraud detection;
Third party service providers that provide services to us that enable us to
provide our services to you and make our App available to you;
Credit bureaus and financial institutions and;
Publicly available sources (such as public records of criminal convictions and
arrest records).

5. How we use your information:

We use your information to provide our services to you and generally for purposes of our relationship. In some instances, we collect and store information about your location. We convert your IP address or mobile GPS data into a rough geo-location. We may use location information to improve and personalise our services for you. We also record where you are when you accept payments using our services. You can set your web browser to refuse cookies, but if you do this you may not be able to enjoy the full use of our App and you may not be able to take advantage of certain promotions we may run. Please note that third parties who advertise on our App may also use cookies, but we do not have access to, or control over them, and therefore cannot take responsibility for them.

6. Purposes of Processing Personal Information

We will only process adequate and relevant information to:

Provide services set out in our agreement with you;
Operate and manage your merchant account;
Monitor and analyse our business;
Contact you by email, SMS, or other means to tell you about our products and services (you can always opt out from future marketing);

Form a view of you as an individual and to identify, develop or improve products that may interest you;
carry out market research, business and statistical analysis;
carry out audits;

Perform other administrative and operational tasks like testing our processes and systems:

comply with our regulatory or other obligations; and

to enable our service providers to provide services to us to enable us to provide our services to you.
The information you provide or we collect is used for:
the purpose of contracting with you in general,
enabling you to accept payments securely, in compliance with applicable regulations;
using our POS solutions;
using other products and services we may offer to you;
responding to your requests for certain information, products or services;
customising the content you see;
communicating with you about new offers;
internal reporting and development; and
any other purpose for which you give your permission, or where we are otherwise permitted or required in terms of the law to use such personal information, or for some purpose in the public interest.
We sometimes put all our data (yours and data from other users) together. This type of aggregate data enables us to figure out how often users access our services so that we can make Nexo more appealing and improve our services. We share this type of statistical data so that our partners also understand how often people use their services and ours, so that they may provide you with an optimal experience. In addition, note that when we consider your application for our services, we will perform criminal and credit checks on you that may leave a trace.
Please note that we and our service providers on our behalf may also collect data generated by automatic measurements of an individualʼs biological characteristics, such as a fingerprint, voiceprint, eye retinas, irises, or other unique biological patterns or characteristics that are used to identify a specific individual and we may provide this information to service providers and regulators in order to identify who you are or if we are required to by applicable law:

7. Quality and access to your information:

We want to ensure that your information is accurate and up to date. You may ask us to correct or remove any information that you think is inaccurate, by please reach out using the details below:

Timothy Morris has been duly appointed as Nexo’s Information Officer (“IO”). All requests for access to information must be made in terms of PAIA and in terms of the Protection of Personal Information Act 4 of 2013 ("POPI") and addressed to the IO.

2.4 Nexo Physical Address: 44 Lake Road, Longmeadow Business Estate, Lethabong, Johannesburg, 1459.

2.5 Nexo Postal Address: PO Box 6518, Dunswart, 1508

2.6 Nexo telephone no: +27 64 750 0785

2.7 Nexo fax. no.: N/A

2.8 IO e-mail address: TimothyM@nexo.app

8. Right to object:

You may, on reasonable grounds, object to us using your information directly to us. If you object, we will stop using your information, except if the law allows its use.

9. Lodging a complaint:

If you believe we are using your information unlawfully, you may lodge a complaint with the Information Regulator. Contact details of the information regulator are available on our website.

10. Children's information and special personal information:

We do not intentionally collect or use information of children (persons under the age of 18 years) unless we have consent. Our intention is to only process information of children with the consent of a competent person (someone like the parent or guardian or if the law otherwise allows or requires us to process such information).

11. Sharing and processing of personal information by third parties:

We respect your privacy and we hate spam as much as you do. We will keep your personal information confidential and only share it with others in terms of this policy, or if you consent to it, or if the law requires us to share it. We have trusted relationships with carefully selected service providers and third parties who perform services for us. All these service providers have a contract with us in terms whereof they have a legal obligation to secure your personal information and to use it only in a way that we permit.

By using the Nexo Services, you consent to your personal information being shared with and processed by the Bank(s), Associations, and service providers, to enable us to provide the Nexo Services to you.

Your personal information and that of your customers, may be processed by these service providers and third-parties to provide you with the Nexo Services chosen by you and to enable the processing of transactions. Your personal information will be used for the purposes, in the manner, and with the appropriate controls, set out in this Privacy Policy.

By using the Nexo Services, you agree that we may share your personal information with the services providers and third-parties mentioned above and you warrant that your customers agree that their personal information may be shared with the service providers, third-parties and us, for the processing of customer transactions.

12. How secure is your information?

We are committed to implementing appropriate technical and other security measures to protect the integrity and confidentiality of your information and do so through the use of high level security software. We protect and manage information that we hold about you by using electronic and computer safeguards such as firewalls, data encryption, as well as physical and electronic access control to our buildings. We only authorise access to information to those employees who require access to fulfil their designated responsibilities.

13. Retention of information:

We retain information in accordance with the required retention periods by law or for legitimate business purposes. We will only retain your information for the purposes explicitly set out in this policy. We may keep information indefinitely in a de-identified format for statistical purposes. This policy also applies when we retain your information.