Privacy Policy for Vault Purse

Introduction

Vault Purse (“Vault Purse”, “we”, “our”, “us”) is a technology-enabled membership and payment access platform. Vault Purse does not operate as a bank, wallet provider, or financial institution. All payment processing and fund custody services are provided by licensed third-party payment service providers, including Monnify.

Vault Purse provides users with access to digital services, membership cards, and partner platforms through secure API integrations. Any balances displayed within Vault are informational and derived from licensed payment partners.

1. Information We Collect

1.1 Personal Information

• First name
• Last name
• State
• Email address
• Phone number
• Profile information

1.2 Transaction & Usage Information

• Payment references and confirmations
• Displayed balances provided via licensed payment partners
• Membership card type and validity
• Purchase and service usage history
• Referral activity

1.3 Third-Party Payment Provider Information

When users initiate payments, limited information is securely shared with licensed payment service providers (such as Monnify) for transaction processing and compliance purposes. Vault Purse does not create, manage, or control user bank accounts or wallets.

1.4 API-Based Service Data

• Airtime and data purchases
• Cable TV and electricity services
• Exam pin purchases
• Discount application and confirmation
• Transaction delivery status

1.5 Device & Technical Data

• Device type and operating system
• IP address
• Usage logs and error reports
• Cookies (web only)

2. How We Use Your Information

• Provide access to Vault Purse services and features
• Process transactions via licensed partners
• Generate and manage membership cards
• Deliver purchased digital services
• Apply discounts and loyalty rewards
• Prevent fraud and abuse
• Improve system performance and security
• Provide customer support

3. Membership Cards & Rewards

Vault Purse membership cards (Basic, Silver, and Platinum) provide access to platform features, discounts, and partner services. Membership cards are not bank cards, stored-value instruments, or cash equivalents.

Reward points:

• Have no monetary value
• Cannot be transferred, withdrawn, or sold
• Are redeemable only within the Vault Purse ecosystem
• Expire upon membership expiration

4. Referrals

• Phone numbers may be used as referral identifiers
• Referral rewards are activity-based

5. Payments & Transfers

• All payment processing is handled by licensed third-party providers
• Vault Purse does not support direct bank withdrawals
• Internal value movements are system-based and limited to platform usage
• Vault Purse does not operate a wallet or hold customer funds

6. Data Security

• Encrypted databases
• SSL-secured connections
• Restricted internal access controls
• Routine system monitoring

7. Data Sharing

• Licensed payment service providers (e.g., Monnify)
• Service partners and merchants
• Legal and regulatory authorities when required by law
• Vault Purse does not sell personal data

8. User Rights

• Access and review personal data
• Request corrections
• Request account deletion
• Opt out of marketing communications

9. Children’s Privacy

Vault Purse services are intended for users aged 13 and above.

10. Updates

Policy updates will be communicated through the platform or via email.

11. Regulatory Position

Vault Purse is a technology and membership platform and does not provide banking, savings, lending, or investment services. All financial transactions are processed by licensed third-party payment service providers in accordance with Nigerian law.