Privacy Policy

1. Introduction

Welcome to EssencePay, a trusted Buy Now, Pay Later (BNPL) solution offered by Green Fruits Cooperative Society Ltd. We empower cooperative members with affordable financing options to purchase essential electronic devices such as smartphones, laptops, televisions, refrigerators, and other home appliances — paying over a convenient installment plan with minimal interest.

We are committed to protecting your privacy and managing your personal data in accordance with the Nigeria Data Protection Regulation (NDPR) and applicable financial and consumer laws. This Privacy Policy explains how we collect, use, share, and protect your information when you access our services, including our loan offers, delivery services, app management, and loan enforcement policies.

2. Information We Collect

To provide seamless financial and delivery services, we collect the following categories of data:

3. How We Use Your Information

We use your information for the following purposes:

• Identity verification and compliance with KYC/AML regulations
• Processing loan applications, down payments, and disbursements
• Delivering purchased products to your preferred location
• Managing repayment plans, due dates, and notifications
• Enforcing compliance through device/app locking during defaults
• Sending updates, alerts, and reminders about your account
• Improving service delivery, fraud detection, and customer experience
• Fulfilling legal and regulatory obligations

4. Delivery Services and Confirmation of Receipt

EssencePay offers a convenient delivery service to support members who are unable to pick up their purchased device(s) from the partner merchant’s shop.

Delivery to Member’s Address

Once your loan is approved and the down payment (30% to 50%) is successfully made:

• You may opt to have your device delivered directly to your provided residential or business address.
• A representative of EssencePay or a certified logistics partner will handle the delivery.

Confirmation and Onsite Activation

At the point of delivery:

• The member (customer) must physically confirm the receipt of the device.
• Other activities such as photographic evidence, signature, or digital verification, and in some cases, device activation/setup, will be carried out on-site with the member’s cooperation.
• These procedures ensure proper documentation, reduce fraud, and help initiate device tracking and protection features linked to your loan.

By accepting delivery, the member authorizes EssencePay to associate the device with the repayment agreement and acknowledges that the loan repayment obligations take full effect from that date.

5. Loan Repayment Terms and Default Enforcement

EssencePay offers flexible repayment options over 3, 4, 5, 6, 9, or 12 months depending on the device and agreement.

Repayment Obligations

• Monthly installments must be paid on or before the stipulated due date.
• Any late payment attracts a 1% daily default fee on the overdue balance.

Default Enforcement Mechanism

In the event of loan default, EssencePay may take the following steps:

6. Notifications and Reminders

EssencePay uses multiple communication channels to notify members of upcoming or missed payments, service updates, and enforcement actions:

• SMS messages
• Emails
• WhatsApp or push notifications
• In-app alerts and pop-ups
• Phone calls (automated or from a representative)

Members consent to be contacted via these channels for service-related updates. These communications are essential for the performance of the service agreement.

7. Credit Reporting and BVN Flagging

In accordance with CBN guidelines and credit bureau regulations:

• Members who default and fail to fulfill repayment obligations may have their information—especially their BVN and loan status - reported to licensed credit bureaus.
• This may affect your ability to access future loans with EssencePay or other financial institutions.

EssencePay complies fully with NDPR in sharing data with only authorized entities.

8. Data Sharing and Third-Party Partners

Your data may be shared with the following, solely for operational and compliance purposes:

• Financial partners, credit bureaus, and regulators
• Device suppliers and delivery/logistics vendors
• Payment processing and disbursement partners
• Customer service, analytics, and fraud detection vendors
• Legal, tax, and compliance authorities (as required)

All third-party processors are under strict confidentiality and data protection agreements in line with Nigerian data privacy regulations.

9. Data Security

We maintain industry-standard practices to protect your data, including:

• Encryption of sensitive financial and identity data
• Access control and system monitoring
• Regular vulnerability and security audits
• Data segmentation and least-privilege access policies

Members are encouraged to keep login details secure and report any suspicious activity immediately.

10. Data Retention

Your data will be retained for as long as:

• You have an active account with EssencePay
• It is necessary for legal, financial, or regulatory compliance
• We need it for business continuity, audits, or dispute resolution

Once no longer needed, your data will be deleted or anonymized in compliance with NDPR.

11. Your Rights

Under the NDPR, you have the right to:

• Request access to your data
• Correct or update your information
• Withdraw consent (where applicable)
• Request deletion (subject to regulatory limits)
• Object to certain data uses
• Request data portability

To exercise these rights, please contact our Data Protection Officer.

12. Children’s Privacy

EssencePay services are not available to individuals under the age of 18. We do not knowingly collect data from minors. Any discovered violations will result in immediate deletion.

13. Contact Us

Green Fruits Cooperative Society Ltd – EssencePay Unit
Attn: Data Protection Officer
Office Address: customercare@essencepay.com.ng
Phone: +234 815 627 6864
Email: customercare@essencepay.com.ng

14. Updates to This Policy

We reserve the right to update this Privacy Policy periodically. Significant changes will be communicated through:

• SMS
• Email
• Website or App notifications

15. Governing Law

This policy is governed by the laws of the Federal Republic of Nigeria, including:

• The Nigeria Data Protection Regulation (NDPR)
• Guidelines of the Central Bank of Nigeria (CBN)
• Applicable fintech, cooperative, and credit reporting regulations