Rapyd Privacy Center
Privacy considerations are a key part of our products and offerings, and in this page you will find information about how we protect your personal data in compliance with privacy laws and regulations and security best practices.
What do we do?
Rapyd is a financial service company, we enable our clients to collect and disburse funds globally. This means that we mainly process transactional (financial) data which relates to our clients and their customers/end users (collectively ‘you’).
Which personal data we collect and why?
We collect personal data as necessary for the performance of our services, for example to identify you and authorize your use of our services, to process payment transactions, to protect our business, you, and to ensure compliance with the applicable law, to manage our relationship with you and to market our services to you.
Below is a list of the main categories of personal data we collect:
- Contact information such (e.g., your name and email)
- Financial information (e.g., transactions)
- KYC information (such as identification or utility bills);
- Usage information (such information collected via our site)
Is Rapyd a data controller or a data processor?
The Rapyd group is made up of different companies around the world. The Rapyd company providing the services to you is responsible for processing your personal data and is the controller of your personal data. Other entities will be considered as data processors depending on their role.
Where do we store personal data?
The data is stored in a secure system with access controls. Given the global nature of our services and our presence, personal data may be maintained, processed and stored by our affiliated companies. All Rapyd employees receives data protection and information security training.
How does Rapyd handle data subject requests?
The Rapyd webform should be used when a Rapyd customer or Rapyd former customer wants to exercise their rights under applicable Data Protection Law.
We monitor and assess each request we receive and address it directly with the data subject. If you would like to submit a data subject request via email, please contact us: Privacy@Rapyd.net
To which data protection law is Rapyd subject?
The Rapyd group is made up of different companies around the world. In order to enable the highest level of protection regarding your privacy, we are adhering to the GDPR and UK GDPR as the most comprehensive, modern and protective privacy regimes. In parallel, we are also complying with local laws and regulations in accordance with the jurisdiction in which we operate through our affiliated companies.
For how long do you store my personal data?
We’ll generally keep your personal data for six years after our business relationship ends, or such period as may be required by applicable local laws. It means that different retention periods may apply. We may keep your personal data for longer because of a potential or ongoing court claim, or for another legal reason. If we have no legal basis to store your data, we will delete it once it is no longer required.
We also invite you to visit our Security Center.
If you have any questions please contact our Privacy Team at Privacy@Rapyd.net.
- Right of access
- Right to erasure (“right to be forgotten”)
- Right to object to processing
You can expect to receive an answer from our team within a maximum of 30 days.
When filling out the webform you will be asked to enter:
- Your country of residence
- Information about your relationship with Rapyd (customer, former customer, authorized representative thereof)
- Your request type
- Full name
- Email address
We may request a copy of the ID / Passport for identity validation purposes and to ensure personal data does not fall into the wrong hands. We advise you to black out any information which is not relevant to the identification process. We require the following data points to be visible on the copy provided to us:
- Full name
- Date of birth
- Expiry date
Please note that even if you unsubscribe from our marketing mailing list, we may continue to send you services-related updates and notifications.
When does Rapyd continue to process data after it has received a data deletion request or objection to the data processing?
Rapyd may also rely on legitimate grounds to continue processing your personal data. Rapyd may act on such legal grounds, for example, when Rapyd takes steps to prevent fraudulent activity and in such cases Rapyd may not be able to fulfill data subject requests to delete or stop processing data.
As a provider of payment services, Rapyd is required to comply with many regulations, including Anti-Money Laundering laws. These regulations and laws may require Rapyd to retain transactional records associated with customers for a certain period of time after the close of the business relationship.