Velonyx Ventures Pvt Ltd (“we,” “us,” or “our”), is committed to protecting the privacy of users and brands engaging with our INR-to-cryptocurrency conversion services and future payment gateway offerings. This Privacy Policy explains how we collect, use, and safeguard your data.

From Brands: We collect KYC documents (e.g., name, address, ID proof)
from brands we partner with, who may have obtained this from users. This includes transaction details (e.g., INR payments, wallet addresses).
From Users: If brands do not provide KYC, users submitting INR payments provide identity proof (e.g., Aadhaar, PAN), address, and transaction IDs.
Future Payment Services: As we expand into a comprehensive payment gateway (e.g., similar to PhonePe), we may collect additional payment-related data (e.g., UPI details, bank information) to facilitate transactions, subject to user consent.
Purpose: To process INR-to-crypto conversions, verify identities, comply with Indian laws (e.g., PMLA, 2002), and support future payment services.

Data is used to process conversions, deposit cryptocurrency into client accounts, meet AML/KYC obligations, and, in the future, enable payment gateway services. We do not sell or share data except as required by law or with brands for service delivery.

We use encryption and secure servers to protect data, but no system is fully secure, especially in crypto or payment transactions. Users and brands are responsible for their payment security (e.g., UPI, bank details, wallets). We have no control over client wallets, and are not liable for their security. For future payment gateway services, additional security measures will be implemented once fully operational.

With brands for service coordination, third-party service providers (e.g., hosting, compliance), and legal authorities (e.g., FIU-IND) if mandated by PMLA or court orders. We rely on brands’ KYC collection; we are not liable for their data practices or business activities. Future payment gateway data may be shared with payment processors and regulators, with prior notice.

Under India’s Digital Personal Data Protection Act, 2023, users can request access, correction, or deletion of data (subject to legal retention), opt out of marketing, and withdraw consent. Contact us at support@velonyx.ventures For brand-collected data, rights must be exercised with the brand directly. Future payment gateway rights will follow similar protocols.

Data is retained for 5 years or as required by PMLA, 2002, then securely deleted, including records from future payment services.

Email: support@velonyx.ventures