Privacy Policy

Effective Date: October 2 2024 | Version 1.1

1. Who We Are (Data Controller)

Lock N Deal Inc. (“Lock N Deal”, “we”, “our”, or “us”) operates a secure online platform that allows buyers and sellers to complete transactions with confidence.

Address: 225-25 Water Walk Drive, Unionville, Ontario L6G 0G3, Canada
Email: privacy@lockndeal.com

By using our website (https://lockndeal.com), mobile app, or related services (collectively, the “Services”), you consent to our collection and use of personal information as described here.

2. Information We Collect

2.1 Information You Provide to Us

We collect information you voluntarily provide when you create an account, verify your identity, or conduct a transaction, including:

• Name, email address, and phone number
• Residential address and date of birth
• Government-issued ID details (e.g., driver’s licence, passport, or national ID) and verification media (selfie or video for liveness check)
• Payment and payout details (e.g., linked bank account or debit card information)
• Business or service details (if you register as a seller)
• Communications with us (e.g., support requests or disputes)

If you choose not to provide required information, we may not be able to offer some or all of our Services.

2.2 Information We Collect Automatically

When you use Lock N Deal, we automatically collect:

• Device and technical data (IP address, browser, app version, operating system)
• Transaction details (amount, currency, time, and counterparty IDs)
• Log data (e.g., clicks, page views, and session duration)
• Location data (where required for fraud prevention or regulatory screening

2.3 Information from Third Parties

We receive information from:

• Stripe and Stripe Identity (for payment processing and KYC verification)
• Financial institutions linked to your account (for payout validation)
• Service providers that help with fraud detection, compliance, analytics, or marketing
• Public records and regulatory databases (for AML checks required under FINTRAC rules)

2.4 Sensitive and Biometric Data

Our identity verification partner may analyze your selfie or short video to match it against your government-issued ID.
We retain biometric data only for as long as necessary to verify your identity and meet legal obligations (typically 30–90 days, unless law requires longer).
We do not sell or rent biometric data.

2.5 Children

Our Services are intended for individuals 18 years and older. We do not knowingly collect personal data from minors.

3. How We Use Your Information

We use personal information to:

• Create and manage your Lock N Deal account

• Facilitate payments, payouts, and refunds through Stripe Connect
• Verify identities and comply with anti-money-laundering (FINTRAC) and sanctions laws
• Prevent fraud and unauthorized transactions
• Communicate about your transactions and service updates
• Improve our platform and user experience
• Send optional marketing communications (you may opt out anytime)

We process personal information only where we have a lawful basis — for example, your consent, a contractual need, or a legal requirement.

4. Disclosure and Third Parties

We share information only as necessary to operate our Services or comply with law:

• Payment Processors: Stripe and Stripe Identity (handle payments and KYC)
• Service Providers: cloud hosting, analytics, security, and customer support vendors
• Regulatory Authorities: FINTRAC or law enforcement (if required by law)
• Business Transfers: if Lock N Deal is acquired or merged, data may transfer as part of the transaction

We do not sell personal information or participate in the Amazon Payment Service Provider Programme.

5. Payments and Payouts

• All transactions are processed via Stripe Connect.
• Buyers authorize payments to Lock N Deal’s Stripe holding account until the deal is completed (code exchange confirmation).
• After completion, funds are released to the seller minus fees.
• Sellers may receive standard bank payouts (1–2 business days) or instant payouts to eligible debit cards (for a small fee).
• All payouts are subject to Stripe’s terms and eligibility requirements.

We share with Stripe only the information needed to perform these services.

6. International Transfers

Our service providers (including Stripe and cloud vendors) may process data in the United States or other jurisdictions. When transferring data outside Canada, we use Standard Contractual Clauses or other approved safeguards to protect your information.

On a continuous basis:Periodically:

7. Data Retention

We retain personal data only as long as needed to:

• Provide our Services
• Meet legal and tax requirements
• Satisfy FINTRAC record-keeping (5 years minimum)
• Handle disputes or prevent fraud

When data is no longer required, we securely delete or de-identify it.

8. Security

We use technical and organizational measures to protect personal information, including:

• Encryption in transit and at rest
• Tokenization of payment data (no full card numbers stored on our servers)
• Least-privilege access controls and auditing
• Routine patching and monitoring for unauthorized activity
  However, no internet transmission is completely secure; use the Service at your own risk.

9. Your Rights

Depending on your location, you may have the right to:

• Access and obtain a copy of your personal data
• Request correction of inaccurate information
• Withdraw consent (where processing is based on consent)
• Request erasure (where legally permitted)
• Object to or limit processing
• Request data portability (where applicable)

To exercise any of these rights, contact privacy@lockndeal.com.
We may need to verify your identity before acting on your request.

10. Cookies and Tracking

We use cookies and similar technologies to enable core features, improve site performance, and analyze usage. You can adjust your browser settings to disable cookies, but some features may not function properly.

11. Changes to This Policy

We may update this Privacy Policy from time to time to reflect changes in our practices or legal requirements. The latest version will always be posted on our website with the effective date at the top.

12. Contact

Questions or concerns about this Privacy Policy or your data?
📧 Email privacy@lockndeal.com or write to Lock N Deal Inc., 225-25 Water Walk Drive, Unionville, Ontario L6G 0G3, Canada.