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Introduction

PayTynz ("we," "us," or "our") is a fintech provider dedicated to utility, fleet, and fuel management in Nigeria. To provide regulated financial services, including prepaid card issuance and fund custody, we partner with Sterling Bank PLC ("Banking Partner"), a licensed commercial bank regulated by the Central Bank of Nigeria (CBN).

Role of the Banking Partner

While PayTynz provides the technology interface and fleet management tools, Sterling Bank PLC acts as the financial services provider. This means:

  • Fund Custody: Your funds are held in accounts managed by Sterling Bank.
  • Regulatory Compliance: Sterling Bank fulfills mandatory CBN requirements on behalf of PayTynz, including Know Your Customer (KYC) and Anti-Money Laundering (AML) verification.

Information We Collect and Share

In addition to technical usage data, we collect and share the following with Sterling Bank to facilitate your account:

  • Identity & KYC Data: Full name, date of birth, National Identification Number (NIN), and Bank Verification Number (BVN).
  • Financial Data: Transaction history, card primary account numbers (PAN), and payment initiation details.
  • Biometric Data: Where required by the Banking Partner for secure authentication (e.g., facial recognition or fingerprints).

Purpose of Data Sharing

We share your information with Sterling Bank specifically to:

  • Verify your identity and maintain your account in compliance with Nigerian law.
  • Issue and manage your PayTynz prepaid cards.
  • Prevent, detect, and report financial crimes or unauthorized transactions.

Data Protection and Security

Both PayTynz and Sterling Bank implement robust technical measures, including encryption and secure access controls, to protect your data. For more details on how our partner handles your information, please refer to the Sterling Bank Privacy Policy.

Your Rights

Under the NDPA, you have the right to access, rectify, or request the deletion of your personal data. Please note that some data must be retained for at least six years to satisfy CBN and Credit Reporting Act requirements even after account closure.

Contact Us

For inquiries regarding your data or this partnership, contact us on: