At Renti-Pay, we recognize that handling rent payments carries real responsibility. We hold our processes to national standards for KYC, data protection and record-keeping, and we move money through regulated payment partners. This page explains what we do, what we do not do, and who holds your money at each step.
1. Licensing & Payment Partners
Renti-Pay is a software platform operated by RENTI PAY Limited. We are not a bank, we do not hold a banking licence, and we do not describe ourselves as a deposit-taking institution.
How payments are processed:
Rent contributions are collected through virtual accounts provided by Korapay, a licensed payment service provider, and paid out to your landlord's verified bank account on the agreed schedule. Korapay holds the payment licence; Renti-Pay provides the scheduling, records and reporting around it.
Every contribution, receipt and payout is recorded with a timestamp and is visible to both you and your landlord in the app.
2. KYC & AML Compliance
Renti-Pay enforces rigorous Know Your Customer (KYC) and Anti-Money Laundering (AML) policies to protect our platform from cybercrime, identity theft, and fraudulent transactions.
KYC Verification
We verify every user's identity prior to activation of withdrawals. Tenants and landlords must submit their Bank Verification Number (BVN). BVN verification is performed to validate legal ownership of linked accounts.
AML Transaction Monitoring
We screen transactions for suspicious volume and patterns. Any suspicious movements or accounts flagged for fraud are reported immediately to the appropriate financial intelligence units (e.g., NFIU) in accordance with the Money Laundering (Prevention and Prohibition) Act.
3. NDPR Data Compliance
Renti-Pay treats data privacy as a fundamental right. We are fully compliant with the Nigeria Data Protection Regulation (NDPR), which governs the processing of personal data in Nigeria.
- Data Protection Officer (DPO): We have a designated Data Protection Officer who oversees privacy processes and addresses user inquiries.
- Consent-driven Processing: We only collect information with your explicit consent, which you can modify or withdraw at any time.
- Annual Audits: Renti-Pay is subject to annual data protection audits performed by registered Data Protection Compliance Organizations (DPCO) to verify alignment with federal standards.
4. Payment and Data Security Standards
We leverage bank-grade security protocols to ensure that transactional details, records, and access tokens are completely locked down.
PCI-DSS Compliant Transactions
All bank card payments and bank-to-bank savings deposits are routed through PCI-DSS (Payment Card Industry Data Security Standard) compliant processors like Paystack and Flutterwave. Card numbers are tokens and never stored on Renti-Pay servers.
AES-256 and TLS 1.3 Encryption
Your personal data, BVN status, and bank accounts are encrypted at rest using Advanced Encryption Standard (AES-256) and in transit using Transport Layer Security (TLS 1.3) cryptographic protocols.
5. Consumer Protection & Grievance Resolution
We believe in consumer trust. Renti-Pay commits to:
- 0% Hidden Fees: Complete fee breakdown displayed for card processing, with zero platform recurring fees.
- Clear Lock Warnings: Telling users before a plan is set up that it runs until the rent due date, and what happens if they need to change it.
- Prompt Support: Resolving standard savings queries within 24 hours.
For any compliance questions or complaints, please reach out to our legal and compliance desk at info@rentipayafrica.com. We will acknowledge and address your email within 2 business days.