Effective Date: December 17, 2024

1. Introduction

RapidCents Inc. (“RapidCents,” “we,” “us,” “our”) is committed to protecting your privacy. This Privacy Policy outlines our practices regarding the collection, use, and disclosure of your personal information in accordance with the Personal Information Protection and Electronic Documents Act (PIPEDA) and other applicable Canadian privacy laws.

RapidCents Inc. is a registered Payment Facilitator (PayFac) with Visa, Mastercard, and American Express. As a financial institution and MSB, we comply with all regulatory guidelines, including the Bank of Canada’s Retail Payment Activities Act (RPAA). We maintain the highest standards of security, transparency, and compliance, ensuring secure and reliable payment processing for our sub-merchants and customers.

2. Information We Collect

We collect information from you in various ways, including:

• Personal Information: This includes, but is not limited to, your first and last name, email address, postal address, telephone number, IP address, Social Security Number, and government-issued identification numbers. For merchants representing organizations, we may also collect your organization’s name, federal taxpayer identification number, and other legal business verification documents.

• Usage Information: This includes information about your computer or device, internet browser type, operating system, location, domain name of the website from which you linked to our Service, internet service provider, and your interactions with our Service.

• Financial Information: When you make transactions via our Services, we collect payment card information, including credit card number, expiration date, and billing address. This information is transmitted to a payment processor and is not stored on our Site, except for reference information such as the last four digits of a credit card number and/or the expiration date.

  When Consumers make Transactions via the Services, Consumers are required to provide payment card information – including, but not limited to credit card number, expiration date, and billing address. We transmit that information to a payment processor. The payment processor is a third-party company, external to us. The web pages of the Service where the information is collected, as well as all transmissions to the third-party processor, are encrypted with an SSL certificate. We do not store complete payment information on our Site, but may store reference information such as the last four digits of a credit card number and/or the expiration date. When using a credit card for Transactions, information you submit through the payment processor is outside the scope of this Privacy Policy. Any Transactions made to a Merchant via RapidCents and the Services shall be subject to RapidCents’s payment facilitator or payment processor’s rules, available at:

  Visa Rules Public
  Mastercard Rules
  RAPIDCENTS IS NOT RESPONSIBLE FOR THE PRIVACY PRACTICES OF ANY THIRD-PARTY PAYMENT PROCESSOR.

3. How We Collect Information

We collect information through various means, including:

• Directly From You: When you register for our Services, make a transaction, request information, interact with us, or make other inquiries.

• Through Your Use of the Service: We use cookies, web beacons, and similar technologies to collect Usage Information. Cookies are small text files that help us remember and customize your visit. Web beacons are electronic images that allow us to gather information about your activities on the Service.

• Mobile GPS: When using our Service through a mobile device, we may collect your location through GPS to enhance your experience. You can manage location-based services through your device settings.

4. Purpose of Collection

We collect your information to:

• Provide Services: Process transactions and manage your account.

• Improve Services: Enhance user experience and develop new features.

• Communication: Send updates, newsletters, and respond to inquiries.

• Fraud Prevention and Security: Monitor, detect, and prevent fraudulent transactions and other illegal activities.

• Legal Compliance: Comply with legal and regulatory requirements, including anti-money laundering (AML) and counter-terrorism financing (CTF) laws.

• Academia: RapidCents may enter into relationships with academic institutions and other research organizations to perform research and insights into data uploaded through use of the Services.
• General Marketing: We may transfer Your Information to third parties whose practices are not covered here if such third parties wish to market products or services to you.

5. Consent

By providing your personal information, you consent to its collection, use, and disclosure as outlined in this Policy. You may withdraw your consent at any time, subject to legal or contractual restrictions and reasonable notice.

Data Sharing with Third Parties

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

• Service Providers: Third-party service providers that assist us in providing our Services, such as payment processors. These providers are contractually obligated to protect your information and use it solely for the purposes specified by RapidCents.

• Law Enforcement and Legal Obligations: Law enforcement or other government officials if it relates to a criminal investigation or alleged criminal activity, or as required by law.

• Sale or Acquisition of Assets: If RapidCents becomes involved in a transaction involving the sale of its assets, such as a merger or acquisition, your information may be disclosed and/or transferred as part of the transaction.

• Aggregated Data: We may de-identify and aggregate information and share it with authorized third parties for any purpose. Aggregated data will not identify you or any other individual by name or any other unique identifier.

Sub-Merchant Access to Information

Please be aware that certain information related to transactions is accessible to the sub-merchants (businesses) with whom you engage. This information may include, but is not limited to:

• Transaction details

• Email address

• Billing information

• Name and address

• Contracts and identification documents provided during the transaction process

When you upload identification documents or sign contracts during a transaction, the respective sub-merchant will have access to this information.

Sub-Merchant Responsibility

While RapidCents implements stringent security measures to protect your information, we are not responsible for the actions of sub-merchants concerning the handling of your data. Each sub-merchant is independently responsible for ensuring the security and proper use of the information they access through our Services.

Your Role

We encourage you to review the privacy policies of the sub-merchants with whom you transact to understand how they manage and protect your personal information.

By using our Services, you acknowledge that RapidCents is not liable for any misuse of your information by sub-merchants.

For more information on data security and best practices, please refer to our Data Security Policy.

If you have any concerns about how a sub-merchant is handling your information, please contact them directly or reach out to us at [email protected].

7. User Rights

You have the right to:

• Access: Request a copy of the personal information we hold about you.

• Correction: Request corrections to any inaccurate or incomplete information.

• Deletion: Request the deletion of your personal information, subject to our legal obligations.

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

8. Data Retention

We retain your personal information only as long as necessary to fulfill the purposes for which it was collected or to comply with legal and regulatory requirements. As a payment service provider, RapidCents is required to comply with various regulations, such as anti-terrorism and anti-money laundering laws, which necessitate retaining certain information for a period after account closure.

9. International Data Transfers

Your personal information may be transferred to and processed in countries other than Canada. We ensure that such transfers comply with applicable data protection laws and that your information remains protected.

10. Compliance with Industry Standards

RapidCents adheres to industry standards to ensure the security of payment information. We employ advanced security measures, including encryption, tokenization, and regular security assessments, to protect your information.

11. 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 policy on our website and indicating the date of the latest revision. Your continued use of the Services after any changes indicates your acceptance of the updated Privacy Policy.

12. Contact Information

If you have any questions or concerns about this Privacy Policy or our data practices, please contact us at:

RapidCents Inc.
Unit 210, 515 Consumers Rd.
North York, ON, Canada
Email: [email protected]
Phone: +1-844-957-2743

13. Children’s Privacy

The Service is not intended for children under 13 years of age. We do not knowingly collect any personal information from or about a child under the age of 13 without the consent of the child’s parent or legal

14. RapidCents Security

At RapidCents Inc., we prioritize the security of our sub-merchants and their customers. We are fully compliant with the Payment Card Industry Data Security Standard (PCI DSS), which sets comprehensive requirements for enhancing payment account data security.

Beyond PCI DSS compliance, we have implemented the RapidCents Secure Shield security system, which incorporates advanced measures to safeguard sensitive information. This includes:

• Advanced Encryption: We utilize robust encryption protocols, such as Advanced Encryption Standard (AES), to protect data both at rest and in transit, ensuring that sensitive information remains confidential.

• Tokenization: Sensitive data is replaced with unique tokens, rendering it meaningless if intercepted, thereby enhancing security during transactions.

• Secure Network Architecture: Our systems are designed with secure network configurations, including firewalls and intrusion detection systems, to prevent unauthorized access.

• Regular Security Audits: We conduct frequent security assessments and vulnerability scans to identify and address potential threats proactively.

These measures exceed standard industry requirements, reflecting our commitment to providing a secure environment for all transactions and personal information.

By implementing these advanced security protocols, we aim to protect our sub-merchants and their customers from potential security threats, ensuring that all transaction and personal information is handled with the highest level of security.

15. TEXT MESSAGE (SMS) OPT-IN AND OPT-OUT

Opt-In: By providing your mobile phone number to RapidCents Inc., you expressly consent to receive promotional, informational, or other text messages (SMS) from us to that number. Standard messaging rates may apply based on your mobile phone plan. Participation is not a condition of purchase.

Frequency: The frequency of text messages may vary. RapidCents Inc. does not guarantee a set number of messages per month.

Opt-Out: At any time, you may revoke your consent and opt out of receiving further SMS messages by replying “STOP” to any message received from RapidCents Inc. After sending the “STOP” message, you will receive one final message from RapidCents Inc. confirming your opt-out request. No further messages will be sent unless you opt back in.

16. THIRD PARTY LINKS.

The Service may contain links to websites not affiliated with RapidCents. Your use of an external website or any informational content found on an external website is subject to and governed by the terms and guidelines of that website. RapidCents does not endorse or make any representations or warranties concerning, and will not in any way be liable for, any informational content, products, services, software, or other materials available on an external website, even if one or more pages of the external website are framed within a page of the Service. RapidCents is not responsible for the privacy practices of any external website.

17. MODIFICATIONS.

The Policy was last modified on the date printed abouve. RapidCents reserves the right to update the Policy from time to time in our sole discretion, and you should check this page periodically for changes. RapidCents will provide notification of material changes to the Policy through the Service at least thirty (30) days prior to the change taking effect. You acknowledge and agree that it is your responsibility to review the Policy periodically and become aware of modifications.