PayFactors Group LLC (“PayFactors”) has adopted this Privacy Shield Policy (“Policy”) to establish and maintain an adequate level of Personal Data privacy protection. This Policy applies to the processing of Personal Data that PayFactors obtains from Customers located in the European Union and Switzerland.
The Federal Trade Commission (FTC) has jurisdiction with enforcement authority over PayFactors compliance with the Privacy Shield.
PayFactors does not currently directly employ individuals who reside in the European Union and Switzerland.
All PayFactors employees who handle Personal Data from Europe and Switzerland are required to comply with the Principles stated in this Policy.
Capitalized terms are defined in Section XIII of this Policy.
This Policy applies to the processing of Corporate Client (Individual Customer) Personal Data and Prospect Personal Data that PayFactors receives in the United States concerning individual persons who reside in the European Union including Lichtenstein, Norway and Iceland, and Switzerland. PayFactors provides cutting edge compensation products and services to businesses. PayFactors does not have any other entities or subsidiaries. This Policy does not cover data from which individual persons cannot be identified or situations in which pseudonyms are used. (The use of pseudonyms involves the replacement of names or other identifiers with substitutes so that identification of individual persons is not possible.)
II. RESPONSIBILITIES AND MANAGEMENT
PayFactors will maintain, monitor, test, and upgrade information security policies, practices, and systems to assist in protecting the Personal Data that it collects. PayFactors personnel will receive training, as applicable, to effectively implement this Policy. Please refer to Section VI for a discussion of the steps that PayFactors has undertaken to protect Personal Data.
III. RENEWAL / VERIFICATION
PayFactors will renew its Swiss and EU Privacy Shield certifications annually, unless it subsequently determines that it no longer needs such certification or if it employs a different adequacy mechanism.
Prior to the re-certification, PayFactors will conduct an in-house verification to ensure that its attestations and assertions with regard to its treatment of Individual Customer Personal Data and Prospect Personal Data are accurate and that the company has appropriately implemented these practices. Specifically, as part of the verification process, PayFactors will undertake the following:
PayFactors will prepare an internal verification statement on an annual basis.
IV. COLLECTION AND USE OF PERSONAL DATA
PayFactors serves as a business-to-business service provider. In our capacity as a service provider, we will receive, store, and/or process employee Personal Data on behalf of our Corporate Clients (Individual Customers). The information that we collect from our Individual Customers in this capacity is used for compensation benchmarking, reporting, other operations related to providing services to the Individual Customer. The following is a list of Personal Data stored and processed on behalf of Individual Customers:
PayFactors uses Personal Data that it collects directly from its Individual Customers in its role as a service provider for the following business purposes, without limitation:
Additionally, PayFactors collects Name and Email from Prospects that visit our corporate website (payfactors.com) and request a web based demonstration. Prospect information is used for the purposes of initiating a demonstration and email marketing campaigns. Prospects may opt out of marketing emails by sending an email to email@example.com
V. DISCLOSURES / ONWARD TRANSFERS OF PERSONAL DATA
PayFactors will not disclose Individual Customer Personal Data or Prospect Personal Data to Third Parties. If PayFactors changes this policy in the future, we will update this policy to attest to our liability in accordance with the Privacy Shield Principles and provide opt out choice where applicable.
Please be aware that PayFactors may be required to disclose an individual’s personal information in response to a lawful request by public authorities, including to meet national security or law enforcement requirements.
VI. DATA INTEGRITY AND SECURITY
PayFactors uses reasonable efforts to maintain the accuracy and integrity of Personal Data and to update it as appropriate. PayFactors has implemented physical and technical safeguards to protect Personal Data from loss, misuse, and unauthorized access, disclosure, alternation, or destruction. For example, electronically stored Personal Data is stored on a secure network with firewall protection, and access to PayFactors electronic information systems requires user authentication via password or similar means. PayFactors also employs access restrictions, limiting the scope of employees who have access to Individual Customer Personal Data and Prospect Personal Data.
Further, PayFactors uses secure encryption technology to protect certain categories of personal data. Despite these precautions, no data security safeguards guarantee 100% security all of the time.
VIII. ACCESSING PERSONAL DATA
PayFactors personnel may access and use Personal Data only if they are authorized to do so and only for the purpose for which they are authorized.
IX. RIGHT TO ACCESS, CHANGE OR DELETE PERSONAL DATA
PayFactors respects the right for individual persons to know and access their Personal Data which is stored and/or processed by PayFactors. With regards to Individual Customer data, PayFactors serves as the data processor and does not have the authority to disclose, correct, erase, or block any Individual Customer data. These requests must be sent to the respective Individual Customers contact regarding data privacy. Regarding Prospect data, PayFactors will respond to any reasonable request in a timely manner to disclose, correct, erase, or block Prospect data. Prospects can send an email to firstname.lastname@example.org
X. CHANGES TO THIS POLICY
This Policy may be amended from time to time, consistent with the Privacy Shield Principles and applicable data protection and privacy laws and principles. We will make PayFactors personnel aware of changes to this policy either by posting to our intranet, through email, or other means. We will notify Individual Customers and Prospects if we make changes that materially affect the way we handle Personal Data previously collected, and we will allow them to choose whether their Personal Data may be used in any materially different manner.
XI. QUESTIONS OR COMPLAINTS
Swiss and EU individual persons may contact PayFactors with questions or complaints concerning this Policy at the following address:
XII. ENFORCEMENT AND DISPUTE RESOLUTION
In compliance with the Swiss-US and EU-US Privacy Shield Principles, PayFactors commits to resolve complaints about your privacy and our collection or use of your personal information. EU and Swiss individuals with questions or concerns about the use of their Personal Data should contact us at: email@example.com.
If a question or concern cannot be satisfied through this process PayFactors has further committed to refer unresolved privacy complaints under Swiss-US and EU-US Privacy Shield frameworks to an independent dispute resolution mechanism operated by the Council of Better Business Bureaus.
If you do not receive timely acknowledgement of your complaint, or if your complaint is not satisfactorily addressed by PayFactors, Swiss and EU individuals may bring a complaint before the BBB EU Privacy Shield. Information about how to file a complaint before the BBB EU Privacy Shield program can be found at: www.bbb.org/EU-privacy-shield/for-eu-consumers/. Finally, as a last resort and in limited situations, Swiss and EU individuals may seek redress from the Privacy Shield Panel, a binding arbitration mechanism.
XIII. DEFINED TERMS
“Individual Customer” means a Corporate customer or client of PayFactors with employees from EU or Switzerland.
“Prospect” means an individual who goes to PayFactors corporate website and requests a web based demonstration.
“Europe” or “European” refers to a country in the European Union including Lichtenstein, Norway and Iceland.
“Personal Data” as defined under the European Union Directive 95/46/EC means data that personally identifies or may be used to personally identify a person, including an individual’s name in combination with country of birth, marital status, emergency contact, salary information, terms of employment, job qualifications (such as educational degrees earned), address, phone number, e-mail address, user ID, password, and identification numbers. Personal Data does not include data that is de-identified, anonymous, or publicly available. For Switzerland, the term “person” includes both a natural person and a legal entity, regardless of the form of the legal entity.
“Third Party” means any individual or entity that is neither PayFactors nor a PayFactors employee, agent, contractor, or representative.