logo

PRIVACY POLICY

Last Updated: May 2025

Spectra Technologies Limited — SpectraPay Platform

INTRODUCTION

Spectra Technologies Limited ("SpectraPay", "we", "us", or "our") is committed to protecting your personal information. This Privacy Policy explains what data we collect, how we use it, and your rights as a user of the SpectraPay platform.

By registering for or using the SpectraPay platform, you agree to the collection and use of your information in accordance with this policy.

INFORMATION WE COLLECT

We collect the following categories of information:

  • Identity data (full name, date of birth, BVN, government-issued ID)
  • Contact data (email address, phone number)
  • Financial data (wallet balance, transaction history, bank account details)
  • Technical data (device information, IP address, app usage logs)
  • Verification data (selfies, identity documents submitted during KYC)

HOW WE USE YOUR INFORMATION

We use your information to:

  • Create and manage your SpectraPay account
  • Verify your identity in compliance with KYC and AML obligations
  • Process cryptocurrency conversions, withdrawals, and bill payments
  • Detect and prevent fraud, money laundering, and unauthorized access
  • Send you transaction notifications and service updates
  • Comply with applicable Nigerian laws and regulations

HOW WE SHARE YOUR INFORMATION

We do not sell, rent, or trade your personal information. We may share your data with:

  • Licensed KYC and identity verification providers (Dojah)
  • Payment processors (Korapay)
  • Crypto infrastructure providers (Quidax)
  • Law enforcement or regulatory authorities where required by law
  • Professional advisors bound by confidentiality obligations

All third parties we work with are contractually required to handle your data securely and in compliance with applicable law.

DATA RETENTION

We retain your personal data for a minimum of five (5) years after the termination of your account, as required by Nigerian financial regulations. Identity verification records are retained in accordance with CBN AML/CFT guidelines.

YOUR RIGHTS

You have the right to access the personal data we hold about you, request corrections to inaccurate data, and request deletion of data where legally permissible.

To exercise any of these rights, contact us at privacy@spectrapay.io.

SECURITY

We implement bank-grade security measures including data encryption at rest and in transit, biometric verification, HMAC webhook authentication, and double-entry accounting controls to safeguard your information.

COOKIES AND ANALYTICS

Our mobile application may use analytics tools to understand usage patterns and improve the platform. No personally identifiable information is shared with analytics providers beyond what is necessary for this purpose.

CHILDREN

SpectraPay is not intended for users under the age of 18. We do not knowingly collect data from minors.

CHANGES TO THIS POLICY

We may update this Privacy Policy from time to time. Changes will be communicated via in-app notification or email. Continued use of the platform constitutes acceptance of the updated policy.

CONTACT

For privacy-related enquiries, contact us at: privacy@spectrapay.io

For privacy-related enquiries, contact us at privacy@spectrapay.io.

Terms of ServiceAML / CFT PolicyFAQHome