Privacy Policy

August 01, 2022

Payspoon knows that you care how personal information about you is used and shared, and we acknowledge and appreciate the trust you have reposed in us that we will do so carefully and sensibly. This website is operated by Payspoon Technologies Private Limited.  Any personal information provided or to be gathered is controlled by Payspoon. The information we collect is subject to the Privacy policy. By  the mere use of the website/App, you explicitly consent to the collection, disclosure and use of the personal information you provide (including any changes thereto as provided by you) for any of the services that we offer.

'We' or 'us' refers to Pay Spoon, and 'you', “your, and “Users”, “Cardholder”/”Cardmember” refers to the users of our App and/or Services.

This privacy policy (Privacy Policy) governs the collection, processing and disclosure practices of personal information by us and informs you about:

  1. What information is collected from you?
  2. Why is such information being collected?
  3. When and in what manner do we use this information?
  4. Whether we will disclose such information to third parties? 
  5. How Secure is this information about me.
  6. What are my rights and choice?

Our Privacy Policy is subject to revisions at any time, as determined by us, without notice, and any such changes are effective immediately upon being posted on this website/ mobile application; any use of the Services thereafter will be deemed to be an acceptance of these changes by you. We recommend you review our Privacy Policy and Terms and Conditions periodically, before using the Services.

1. What information is collected from you?

We collect the following types of information from our users — ‘personal information’ such as your full name, telephone number, e-mail address, Permanent Account Number (PAN), Aadhar, Date of Birth, Gender, e-KYC through UIDAI through our banking partners, credit information aggregates from Customer Information Companies and ‘sensitive personal information’ such as your password. 

We collect information that you provide us. 

For continued use of the App or the Services, the Users may from time to time, be required to submit information in addition to the information provided during registration. We may also require additional information from you to be able to provide the Service you have signed up for and to comply with statutory and regulatory requirements. We also collect information about your interaction with our Services, your advertising preferences, and your communications with us. This is the information we receive from the devices (including mobile devices) you use when you use our Services, register for an account with us, provide us information on a web form, update or add information to your account, participate in community discussions, chats, or dispute resolution, or when you otherwise correspond with us regarding our Services. This information comprises the following: Device ID or unique identifier, device type, ID for advertising, and unique device token. Such information shall only be obtained upon receiving express consent of the User.

2. Cookies and Similar Technologies

We use cookies and the mobile equivalent of cookies, in connection with your use of our App and Services to collect information related to what you see and interact with on our App and access and use of our App and Services. Cookies further help us prevent fraud and ensure security of the website/app. When you use the Spoon App/website you agree to have these cookies stored in your device. However, you may always choose to disallow cookies. Disallowing or rejecting cookies may prevent you from enjoying the full range of service offered by the website/app. Cookies maybe stored in your browser by other third-party sites you visit and Payspoon and its affiliates are not responsible for cookies placed on your device by any other website and information collected thereto.

3. Why such information is being collected?

Some of the information has to be mandatorily provided in order to avail the Services and at the time of registration or creating an Account with the App. Such information collected during the registration enables us to verify the User’s identity and User’s credentials and eligibility to obtain Credit facilities using our App. 

When a User registers with our App, we shall use the information obtained while registration to verify the User’s identity and obtain a credit report from an authorized credit reporting agency. 

We collect, store and disclose personal information, sensitive personal information and information relating to Users in order to provide the Service. We may also use information provided by you to: (i) enforce our Terms of Use Agreement; (ii) monitor user activity and more effectively manage our hardware and App; (ii) create and manage user accounts; (iii) assist you with technical difficulties; (iv) targeted marketing strategies like SMS, Email Social Media Ads etc.; (v) provide personalized features; (vi) collection activities; (vii) preserve User history as mandated by law or policy The Information provided by the Users enables us to improve our sites and provide you the most user-friendly experience.

4. When and in what manner do we use this information. 

Such information shall also be collected and used for verification as per rules, guidelines, directives set out by (a) Us; (b) our banking partners; (b) any regulatory bodies; (c) applicable laws and (d) to prevent illegal activities such as fraud, extortion, cheating, misappropriation etc.

We may process, use, modify, display, distribute the information provided to us and also create new information or material from such information. By accessing the Services and providing such information, you grant us your express consent to utilize the information in the manner set out under this Privacy Policy and the Terms and Conditions without any additional fees. You also grant us the express consent to process, use, license, reproduce, distribute, analyze, disclose or aggregate information that are non-identifiable, which may be collected through your use of the App or Services. 

5. Whether we will disclose such information to third parties.

We shall not publish or disclose personal information or sensitive personal information unless it is pursuant to obtaining consent from the User; disclosure to any of our affiliates, subsidiaries, business partners, financial institution or regulator in connection with the Service. Credit bureaus or Credit Information Companies (which helps us to support responsible lending and assist consumers in understanding where they stand with their credit) and collection agencies. We may also disclose information about our users to law enforcement officers, government officials, regulatory and supervisory agencies or to any other persons as required by law. We may also share some personal information with third party advertisers who are interested in advertising their product to you. You can opt-out of this service by contacting us through the contact details given below. We may also disclose personal information and sensitive personal information, and automatic information to businesses tied up with us for providing Services better., in the good faith belief that such disclosure is reasonably necessary to enforce these Terms of Use Agreement and/or Privacy Policy; respond to claims that any content violates the rights of third-parties; or protect the rights, property, or personal safety of our users, the general public or ourselves. You agree and acknowledge that we may not inform you prior to or after disclosures made according to this section. If substantially all of our assets are sold or merged into another company, the acquiring company shall be given access to your personal information without your consent. If we sell only a part of our business, the acquiring entity shall have access to your personal information without your consent and we may inform regarding this sale.

Personal Data will only be transferred to a third party that has complied to same standards of data protection that is mandated under the Information Technology Act 2000 (“IT Act”) and the Information Technology (Reasonable security practices and procedures and Sensitive Personal Data or information) Rules, 2011 (“Data Protection Rules”).

6. How Secure is this information about me?

We ensure the confidentiality and security of your personal information and sensitive personal information by implementing security practices and standards of industry standards and as mandated by law. The information provided to us by the User is stored in secure facilities. Any information that is transmitted over the internet is protected by means of secure encryption, using or other equivalent protocols. Please be advised that no method of transmission over any electronic medium is completely secure and without risks. Therefore, we shall strive and ensure the use of acceptable standards of User data protection, however, we cannot guarantee the absolute security of such information and your use of the App or Services is at your sole discretion and risk. We shall not be liable for any actions of any third-party with whom you may choose to share the information. 

7. What are my rights and choice?

You have the right to consent or withhold consent concerning the use of your personal information. You have a choice about how we use your personal information and update and correct your personal data in addition to all rights that are available to you under the Data Protection Policy. We will keep your limited personal data for as long as it is needed to carry out the purposes we've described above, or as otherwise required by law. Generally, this means we will keep your personal data as long as your account is active or as needed to provide our services. If you cancel/ deactivate/ unsubscribe your account with us, we are not under any obligation to retain your information. However, we may retain your information for such period and purposes as permitted by applicable laws.

8. Where do I reach out if I have any questions or grievances?

If you have questions or want to provide us with feedback about this Privacy Policy or any grievances, please contact our Grievance Officer using the contact details provided below:

Please get in touch with us at