1. Introduction
Welcome to SmartWallet AI. This Privacy Policy explains how My India Now ("we," "us," or "our") collects, uses, discloses, and safeguards your information when you use our SmartWallet AI mobile application and related services (collectively, the "Service").
We are committed to protecting your privacy and ensuring the security of your personal and financial information. Please read this Privacy Policy carefully. By using our Service, you agree to the collection and use of information in accordance with this policy.
If you do not agree with the terms of this Privacy Policy, please do not access or use the Service.
2. Data Controller
The data controller responsible for your personal data is:
For any questions or concerns about this Privacy Policy or our data practices, please contact us using the information provided above.
3. Information We Collect
We collect different types of information to provide and improve our Service:
3.1 Information You Provide
| Data Type | Examples | Purpose |
|---|---|---|
| Account Information | Name, email address, password | Account creation and authentication |
| Financial Data | Transactions, income, expenses, budgets | Core app functionality |
| Profile Information | Currency preference, categories | Personalization |
| Support Communications | Messages, feedback, support tickets | Customer support |
3.2 Automatically Collected Information
| Data Type | Examples | Purpose |
|---|---|---|
| Device Information | Device model, OS version, unique identifiers | App optimization and security |
| Usage Data | Features used, session duration, interactions | Service improvement |
| Log Data | IP address, access times, app crashes | Security and debugging |
3.3 SMS Data (With Permission)
If you grant SMS permission (Android only), we read bank transaction SMS messages to automatically import your transactions. Important points:
- SMS content is processed locally on your device
- We never upload or store your SMS messages on our servers
- Only messages from recognized bank sender IDs are processed
- You can revoke this permission at any time
4. How We Use Your Information
We use the collected information for the following purposes:
- Provide Services: Deliver core functionality including expense tracking, budgeting, and financial insights
- Personalization: Customize your experience and provide relevant recommendations
- AI Analysis: Generate personalized financial insights and spending pattern analysis
- Communication: Send service updates, security alerts, and support messages
- Improvement: Analyze usage patterns to improve our Service
- Security: Detect and prevent fraud, unauthorized access, and other security issues
- Legal Compliance: Comply with applicable laws and regulations
We process your data based on the following legal bases:
- Contract: Processing necessary to provide the Service you requested
- Consent: Processing based on your explicit consent (e.g., SMS permissions)
- Legitimate Interest: Processing for our legitimate business interests
- Legal Obligation: Processing required by law
5. Data Storage and Security
We implement robust security measures to protect your data:
5.1 Encryption
- At Rest: AES-256 encryption for all stored data
- In Transit: TLS 1.3 encryption for all data transmission
- End-to-End: Your financial data is encrypted before leaving your device
5.2 Local Storage
Most of your financial data is stored locally on your device in an encrypted database. This means:
- Your data is accessible even offline
- We have minimal access to your financial details
- You maintain control over your data
5.3 Cloud Storage (Premium)
If you enable cloud sync (Premium feature):
- Data is encrypted before upload
- Stored on secure servers with industry-standard protections
- You can delete cloud data at any time
5.4 Security Practices
- Regular security audits and penetration testing
- Access controls and employee training
- Incident response procedures
- Biometric authentication support
6. Data Sharing
We do not sell, rent, or trade your personal information. We may share data only in the following circumstances:
6.1 Service Providers
We may share data with trusted third-party service providers who assist us in:
- Cloud hosting and storage
- Analytics and crash reporting
- Payment processing (for subscriptions)
- Customer support tools
These providers are contractually obligated to protect your data and use it only for specified purposes.
6.2 Legal Requirements
We may disclose your information if required by law or in response to:
- Valid legal processes (court orders, subpoenas)
- Government requests in accordance with applicable law
- Protection of our legal rights
- Prevention of fraud or security threats
6.3 Business Transfers
In the event of a merger, acquisition, or sale of assets, your data may be transferred to the acquiring entity. We will notify you of any such change.
6.4 With Your Consent
We may share data with third parties when you have given explicit consent.
7. SMS Permissions (Android)
Our SMS auto-import feature requires special permissions. Here's how it works:
7.1 What We Access
- Only SMS messages from recognized bank sender IDs
- Transaction details: amount, date, merchant (when available)
- We do not access personal messages or other SMS
7.2 How We Process
- SMS parsing happens entirely on your device
- No SMS content is ever transmitted to our servers
- Only extracted transaction data is stored (locally or in cloud sync)
7.3 Supported Banks
We support 50+ Indian banks including SBI, HDFC, ICICI, Axis, Kotak, PNB, Bank of Baroda, Yes Bank, IndusInd, Federal Bank, IDFC First, and more.
7.4 Revoking Permission
You can revoke SMS permission at any time through your device settings. This will disable automatic transaction import but will not affect manually entered data.
9. Your Rights
You have the following rights regarding your personal data:
9.1 Access
You can request a copy of the personal data we hold about you.
9.2 Correction
You can request correction of inaccurate or incomplete data.
9.3 Deletion
You can request deletion of your personal data. You can delete your account through Settings > Privacy > Delete Account in the app, or by contacting us.
9.4 Export
Premium users can export their data in PDF, CSV, or Excel formats.
9.5 Restriction
You can request restriction of processing in certain circumstances.
9.6 Objection
You can object to processing based on legitimate interests.
9.7 Withdraw Consent
Where processing is based on consent, you can withdraw consent at any time.
To exercise any of these rights, please contact us at privacy@smartwalletai.co. We will respond within 30 days.
10. Data Retention
We retain your data as follows:
- Account Data: Retained while your account is active
- Financial Data: Retained according to your plan (3 months for Free, unlimited for Premium)
- Backup Data: Deleted within 30 days of account deletion
- Log Data: Retained for up to 12 months for security purposes
When you delete your account, we will delete or anonymize your personal data within 30 days, except where we are required to retain it for legal purposes.
11. Children's Privacy
Our Service is not intended for children under 13 years of age. We do not knowingly collect personal information from children under 13. If you are a parent or guardian and believe your child has provided us with personal information, please contact us immediately.
If we discover that we have collected personal information from a child under 13, we will take steps to delete that information as quickly as possible.
12. International Data Transfers
Your information may be transferred to and processed in countries other than India. When we transfer data internationally, we ensure appropriate safeguards are in place:
- Standard contractual clauses
- Adequacy decisions where applicable
- Encryption and security measures
By using our Service, you consent to the transfer of your information to countries outside your country of residence.
13. Changes to This Privacy Policy
We may update this Privacy Policy from time to time. We will notify you of any material changes by:
- Posting the updated policy in the app
- Sending an email notification (for significant changes)
- Displaying a notice in the app
The "Last Updated" date at the top of this policy indicates when it was last revised. Your continued use of the Service after any changes constitutes acceptance of the updated policy.
14. Contact Us
If you have any questions, concerns, or requests regarding this Privacy Policy or our data practices, please contact us:
Company Address
My India Now
Pune, Maharashtra, India