Transparency & Regulatory Compliance Statement
Last Updated: January 9, 2026
MEVONPAY, operated by MEVON FINANCE LIMITED (RC: 9689996), values your financial privacy and data integrity. This Privacy Policy details how we collect, secure, and process your personal data across our digital wallet services, mobile applications, and payment platforms. Our data processing acts in full compliance with the Nigeria Data Protection Regulation (NDPR).
MEVONPAY is a financial technology platform operated by MEVON FINANCE LIMITED. Financial services, account generation, and deposit custody are provided by our partner bank, Rubies Microfinance Bank, which is licensed and regulated by the Central Bank of Nigeria (CBN) and insured by the NDIC.
1. Mobile Application Permissions Disclosure
To provide financial services and ensure transaction security on our mobile applications (Android & iOS), we require explicit permission to access specific device functions. We strictly adhere to Google Play Store and Apple App Store Developer Guidelines regarding user privacy:
Camera Permission
Used strictly for capturing official government ID documents and performing Face Verification (biometric liveness checks) during account onboarding and tier upgrades.
Microphone Access
Used exclusively for voice-prompted identity verification features during high-security account recovery or verification upgrades.
Notifications Access
Required to deliver real-time transaction alerts (credits/debits), account activity updates, and critical security notifications.
Photos & Media Access
Accessed only when users voluntarily select images for profile customization or upload business verification documents.
2. Device & Technical Security Data
To prevent fraudulent logins, account takeovers, and unverified bot access, we analyze specific technical telemetry data:
- Device Identity: Unique Device ID and OS version to anchor authorized application instances to a single account.
- Fraud Prevention: IP address and geolocation monitoring to flag suspicious access from multi-region or blacklisted locations.
- System Integrity: Automated detection of rooted, jailbroken, or compromised device runtimes.
3. Data Security & Encryption Standards
All user data communication is secured using robust SSL/TLS encryption. Sensitive identifiers, such as BVN details and biometric liveness templates, are encrypted at rest and stored in ISO-compliant data centers. We maintain rigid record retention in line with Nigerian Anti-Money Laundering regulatory requirements.
Terms of Service
Last Modified: January 2026
These Terms of Service ("Terms") govern your access to and use of the Mevonpay website, mobile applications, and payment services. By creating an account or using any Mevonpay services, you agree to be bound by these Terms.
1. User Eligibility
You must be at least 18 years old and possess the full legal capacity to open a Mevonpay account. You agree to provide accurate, complete information during registration.
2. Payment Finality
Mevonpay facilitates wallet funding, peer transfers, and utility bill payments. Transfers routed through NIBSS or instant settlement channels are final and irrevocable.
3. Prohibited Conduct
Users are explicitly prohibited from engaging in fraud, money laundering, processing proceeds of illegal activities, unauthorized card testing, or tampering with platform infrastructure.
Anti-Money Laundering (AML) & CFT Policy
Statutory Regulatory Framework
MEVONPAY operates in strict alignment with the Money Laundering (Prevention and Prohibition) Act 2022, Central Bank of Nigeria (CBN) AML/CFT/CPF regulations, and Special Control Unit Against Money Laundering (SCUML) guidelines.
Automated Monitoring
All electronic fund transfers are scanned in real-time for suspicious velocity, unusual structuring (smurfing), and sanction list matching.
SAR Escalation
Transactions flagged for potential financial crimes are escalated via Suspicious Activity Reports (SARs) to regulatory bodies (NFIU) without user tip-off.
5-Year Retention
Transaction ledgers, audit trails, and identity verification logs are securely preserved for a minimum of 5 years as mandated by Nigerian law.
Know Your Customer (KYC) Framework
Central Bank of Nigeria (CBN) Compliant Verification Tiers
We implement a tiered KYC system to secure user funds and adhere to regulatory transaction limits:
Level 1: Basic
Collection of Full Name, Email, Gender, Verified Phone Number, and Residential Address (City/State).
Basic Daily LimitsLevel 2: Identity
Mandatory BVN Verification and Face Verification (biometric liveness checks) to confirm identity against national records.
Enhanced Wallet LimitsLevel 3: Merchant
Corporate CAC registration documents, Government Issued ID, and official business address verification for corporate entities.
Maximum Account LimitsFinancial Institution Compliance Questionnaire
Mevon Finance Limited Due Diligence Portal
Note: Must be completed and signed by an Authorized Compliance Officer.
Account Deletion & Data Rights
User Right to Data Eradication & Retention Disclosure
Users have the right to permanently delete their MEVONPAY account and erase associated identity parameters. You can initiate a deletion request through our dedicated privacy desk.
Email Request Desk
Send your formal request directly to delete@mevonpay.com.ng using your registered Mevonpay account email.
Processing Timeline
Identity verification and request processing are completed within 24 to 48 business hours.
Upon wallet settlement and request verification, personal contact identifiers will be purged. However, transaction ledgers, BVN verification logs, and audit trails will be securely archived for a statutory period of 5 years as mandated under Central Bank of Nigeria (CBN) and Anti-Money Laundering (AML/CFT) regulatory frameworks before permanent erasure.