BID Wallet Privacy Policy

Last updated: 10 OCT 2024

1. Introduction

BidNow Sdn Bhd ("we", "us", or "our") is committed to protecting the privacy and security of your personal information. This Privacy Policy describes how we collect, use, and protect your personal data in connection with your use of the BID Wallet application ("BID Wallet" or the "App"), which is associated with our BidNow cryptocurrency token - BID.

2. Data Controller

BidNow is the data controller responsible for your personal data. If you have any questions about this Privacy Policy or our data practices, please contact us at [insert contact email].

3. Information We Collect

3.1 Account Creation Data

When you create a BidNow account, which is necessary to use BID Wallet, we collect:

  • Email address
  • Full name
  • Password (stored in hashed form)

3.2 BID Wallet Specific Data

After authorizing data sync with BID Wallet, we collect:

  • IC (Identification Card) number
  • Mobile number
  • 6-digit PIN (stored in hashed form)

3.3 Usage Data

We may collect data about how you use the App, including:

  • Transaction data
  • Login information
  • Device information

4. How We Use Your Information

We use your personal data for the following purposes:

  • To create and manage your BID Wallet account
  • To provide and maintain our services
  • To process transactions
  • To comply with legal and regulatory requirements
  • To prevent fraud and enhance security
  • To improve our services

5. Data Sharing and Disclosure

To provide you with our services and maintain the security and functionality of BID Wallet, we may need to share your personal data with certain parties. Here's an overview of how we may share your information:

5.1 Internal Sharing

  • We may share your data with employees or contractors of BidNow who need this information to help us provide and improve our services.
  • Your data may be accessed by relevant teams within the BidNow family of companies, including local entities in your region, to ensure seamless service delivery.

5.2 Service Providers and Partners

  • We collaborate with financial institutions and service providers to offer our products and services. Some of your data may be shared with these partners to facilitate transactions and maintain service quality.
  • When you conduct cryptocurrency transactions, we may need to share relevant data with blockchain service providers to process your transactions.
  • We engage various companies to support our operations, including those providing technical infrastructure, marketing services, analytics, and app development. These companies may have access to some of your data to perform their functions.

5.3 Identity Verification and Security

  • To maintain the integrity of our platform, we work with specialized companies for identity verification, background checks, and due diligence.
  • This may include sharing your photo ID and selfie with external identity verification providers. Please note that this process may involve the collection and processing of biometric data.
  • By creating a BidNow account, you acknowledge and accept that we use these third-party services for identity verification, transaction monitoring, and fraud prevention.

5.4 Legal and Safety Reasons

We may also disclose your information:

  • When required by law or in response to valid legal processes.
  • To enforce our Terms of Use or other agreements.
  • To protect the rights, property, or safety of BidNow, our users, or others.

5.5 With Your Consent

  • We may share your data in other ways if you give us specific permission to do so.

5.6 Business Transfers

  • In the event of a merger, acquisition, or sale of all or a portion of our assets, your data may be transferred as part of that transaction.

We are committed to treating your personal data with respect and confidentiality. Any third parties that we share your data with are obligated to use your personal data only for the purposes outlined in this policy.

6. Data Security

We implement appropriate technical and organizational measures to protect your personal data against unauthorized or unlawful processing, accidental loss, destruction, or damage.

7. International Transfers of Your Personal Data

BidNow operates globally to provide you with the best possible service. In the course of providing our products and services to you, your personal data may be transferred to, stored, and processed in countries other than the one you reside in. Please be aware that the data protection laws in these countries may differ from those in your country of residence.

By accepting this Privacy Policy and submitting your personal data, you explicitly consent to the transfer, storage, and processing of your personal data in jurisdictions outside of your own. We ensure that such transfers are carried out in compliance with applicable data protection laws and that appropriate safeguards are in place to protect your personal data.

8. Third-Party Identity Verification Services

12.1 Sumsub

BidNow uses Sumsub, a third-party service provider, to process your Personal Data for identity verification purposes. By clicking "Accept" or proceeding with the verification process, you acknowledge that you have read, understood, and accepted Sumsub's Privacy Notice.

 

7. Data Retention

We retain your personal data for as long as necessary to provide you with our services and to comply with our legal obligations. If you close your account, we may retain certain data to comply with legal requirements.

8. Your Rights

Depending on your location, you may have certain rights regarding your personal data, including:

  • The right to access your personal data
  • The right to correct inaccurate data
  • The right to delete your data
  • The right to restrict processing of your data
  • The right to data portability

To exercise these rights, please contact us at [email protected].

9. Changes to This Privacy Policy

We may update this Privacy Policy from time to time. We will notify you of any significant changes by posting the new Privacy Policy on this page and updating the "Last updated" date at the top of this Policy.

10. Contact Us

If you have any questions about this Privacy Policy, please contact us at  [email protected].