[Effective 1 September 2026]
Translation Notice
This document is an English translation of the Korean-language "크로스이엔에프 전자금융거래 이용약관", provided for the convenience of Users pursuant to Article 19(3) of these Terms. The Korean-language original is the authoritative text. In the event of any discrepancy in interpretation between this translation and the Korean-language original, the Korean-language original shall prevail.
The purpose of these terms and conditions (these "Terms") is to clearly define the rights and obligations between CrossENF Co., Ltd. (the "Company") and Users who wish to use electronic financial transactions, by setting out the basic matters concerning the electronic financial transactions provided by the Company.
The terms used in these Terms are defined as follows. Any term not separately defined in this Article or elsewhere in these Terms shall have the meaning prescribed by the Electronic Financial Transactions Act (the "EFTA") and other relevant laws and regulations.
"Electronic financial transaction" means a transaction in which the Company provides electronic financial transaction services through an electronic device and the User uses such services in an automated manner without meeting or communicating directly with an employee of the Company.
"Electronic payment transaction" means an electronic financial transaction in which a person who transfers funds (the "Payer") causes the Company to move funds, by using electronic payment means, to a person who receives the funds (the "Payee").
"Electronic payment means" means means of payment by electronic methods as prescribed in Article 2, subparagraph 11 of the EFTA, including debit-type electronic payment means, prepaid electronic payment means, electronic currency and credit cards.
"Electronic device" means a device used to transmit or process electronic financial transaction information by electronic means, including cash dispensers, automated teller machines, payment terminals, computers, telephones and other devices that transmit or process information by electronic means.
"Electronic document" means information created, transmitted, received or stored in electronic form by an information processing system under Article 2, subparagraph 1 of the Framework Act on Electronic Documents and Transactions.
"User" means a person who agrees to these Terms and uses the electronic financial transaction services provided by the Company.
"Password" means a combination of numbers and letters set by the User and approved by the Company for the purpose of identifying the User and protecting the User’s information.
"Means of access" means the means or information used to give a transaction instruction, or to secure the authenticity and accuracy of the User and of the transaction details, in an electronic financial transaction, as prescribed in Article 2, subparagraph 10 of the EFTA, including electronic cards and equivalent electronic information (including credit card numbers), electronic signature creation data and certificates under the Digital Signature Act, User numbers registered with the Company, the User’s biometric information, and the passwords necessary to use any of the foregoing means or information.
"Transaction instruction" means an instruction given by the User to the Company to process an electronic financial transaction under the electronic financial transaction agreement concluded pursuant to these Terms.
"Error" means a case where an electronic financial transaction has not been executed in accordance with the electronic financial transaction agreement or the User’s transaction instruction, without any intent or negligence on the part of the User.
"Merchant" means any of the following persons:
(a) a person who, under an agreement with the Company, provides goods or services to Users in transactions made by electronic payment means; and
(b) a person who, under an agreement with the Company, acts on behalf of a person providing goods or services to Users in processing transactions made by electronic payment means, as prescribed by the Enforcement Decree of the EFTA.
(1) The electronic financial transaction services consist of the following services. Where necessary, the detailed contents of the relevant service shall be set out in these Terms or in separate terms and conditions:
issuance and management of prepaid electronic payment means.
(2) Where the Company intends to add to or change the electronic financial transaction services, the Company may add to or change such services after giving prior notice to Users of the contents thereof and of the date of application.
(1) As a general rule, the Company provides electronic financial transaction services to Users 24 hours a day, all year round. Service hours may, however, vary depending on the circumstances of financial institutions or other issuers of payment means.
(2) Where the Company intends to change the service hours, the Company shall give notice of the contents thereof through an electronic device readily accessible to Users, for a period of one month beginning one month prior to the change. This shall not apply in unavoidable cases such as recovery from a system failure, urgent program maintenance or external factors, in which case the Company shall inform Users of such circumstances as soon as notice becomes possible.
(1) The Company may collect electronic financial transaction fees by deducting them, in accordance with the User’s payment instruction, from the balance recorded in the User’s prepaid electronic payment means, or through the payment method used by the User for charging or otherwise. The method of collection shall be as set out in the separate terms and conditions or in the guidance displayed on the service screen.
(2) The Company shall post the fees (or fee rates) through an electronic device readily accessible to Users so that Users may confirm them, and Article 20 (Amendment of the Terms) shall apply mutatis mutandis where the Company changes any fee (or fee rate).
(1) Where a User’s transaction instruction concerns an electronic payment transaction, the Company shall act on the User’s behalf in the payment process and shall transmit the contents of the transaction instruction concerning the electronic payment transaction so that payment is made.
(2) Where a payment transaction has not been made in accordance with the User’s transaction instruction concerning an electronic payment transaction, the Company shall return the funds received to the User.
(1) The Company shall issue a means of access only upon the User’s application and after verifying the identity of the User.
(2) Notwithstanding paragraph (1), where the Company has obtained the User’s consent for the purpose of the renewal or replacement of a means of access, the Company may issue the means of access even without an application by, or identity verification of, the User in any of the following cases:
where, with respect to a means of access that has not been used within six months before the scheduled date of renewal or replacement, the Company has obtained the User’s consent to such renewal or replacement in writing (including an electronic document bearing an electronic signature, meaning a signature by which the signer’s real name can be verified); or
where, with respect to a means of access that has been used within six months before the scheduled date of renewal or replacement, the Company has notified the User, at least one month before such scheduled date, of the intended issuance and of the fact that the User may raise an objection within 20 days, and no objection has been raised by the User within 20 days.
(1) In providing electronic financial transaction services, the Company shall select the means of access and verify the User’s identity and authority, the contents of the transaction instruction and other relevant matters.
(2) In using a means of access, a User shall not engage in any of the following acts, unless otherwise specially provided by another statute. This shall not apply where it is necessary to transfer, or provide as security, prepaid electronic payment means pursuant to Article 18 of the EFTA (excluding the act of borrowing or lending a means of access, keeping, delivering or distributing a means of access, or arranging or brokering any of the foregoing, for the purpose of a crime or with knowledge that it will be used for a crime):
transferring or acquiring a means of access;
lending a means of access to a third party or delegating its use;
providing a means of access as a pledge or for any other security purpose; or
arranging any of the acts under subparagraphs 1 through 3.
(3) A User shall not disclose, expose or leave unattended the User’s means of access to any third party, and shall exercise sufficient care to prevent the misappropriation, forgery or alteration of the means of access.
(4) Where the Company receives notice from a User of the loss, theft or similar event concerning a means of access, the Company shall be liable to compensate the User for any loss incurred by the User, from that time onward, as a result of the use of such means of access by a third party. This shall not apply, however, where an agreement has been concluded in advance between the Company and the User to the effect that, pursuant to Article 10(1) of the EFTA and Article 9 of the Enforcement Decree of the EFTA, the User shall bear liability for loss with respect to amounts stored before notice of the loss or theft of prepaid electronic payment means or electronic currency is given.
(1) The Company shall enable Users to confirm their transaction details (including matters concerning the User’s request for correction of an Error and the results of the handling thereof) through the mobile application and internet website operated by the Company (collectively, the "Service Channels"). Where a User requests the delivery of transaction details in writing, the Company shall deliver a written statement of the transaction details by facsimile, by mail or in person within two weeks from the date of receipt of the request.
(2) Where the Company is unable to provide transaction details due to an operational failure of an electronic device or for any other reason, the Company shall immediately inform the User of such reason by transmission of an electronic document (including transmission by electronic mail). Any period during which transaction details cannot be provided due to an operational failure of an electronic device or any similar reason shall not be counted toward the period for written delivery.
(3) Among the transaction details subject to paragraph (1), those for which the applicable period is five years are as follows:
the name or number of the transaction account;
the type and amount of the electronic financial transaction;
information indicating the counterparty to the electronic financial transaction;
the date and time of the electronic financial transaction;
the type of electronic device and information by which the electronic device can be identified;
fees received by the Company in consideration of the electronic financial transaction;
matters concerning the User’s consent to withdrawal;
access records of the electronic device relating to the relevant electronic financial transaction;
matters concerning applications for, and changes to the conditions of, electronic financial transactions; and
records of electronic financial transactions in an amount exceeding KRW 10,000 per transaction.
(4) Among the transaction details subject to paragraph (1), those for which the applicable period is one year are as follows:
records of small-amount electronic financial transactions in an amount of KRW 10,000 or less per transaction;
records of transaction approvals relating to the use of electronic payment means; and
matters concerning the User’s request for correction of an Error and the results of the handling thereof.
(5) A User who wishes to request the written delivery provided for in paragraph (1) may do so at the following address and telephone number:
• Address: 22, Hakdong-ro 7-gil, Gangnam-gu, Seoul, Republic of Korea
• Telephone: 1670-2624
• Email: support@crossenf.com
(1) Where a User becomes aware of an Error in the course of using the electronic financial transaction services, the User may request the Company to correct such Error.
(2) Where the Company receives a request for the correction of an Error under the preceding paragraph, or becomes aware of an Error on its own, the Company shall immediately investigate and handle the matter and shall inform the User of the cause of the Error and of the results of the handling thereof, in writing, by telephone or by electronic mail, within two weeks from the date of receipt of the request or the date on which the Company became aware of the Error. Where the User has requested notification in writing, the Company shall so notify in writing.
(1) The Company shall be liable to compensate a User for any loss incurred by the User as a result of any of the following incidents:
an incident arising from the forgery or alteration of a means of access;
an incident arising in the course of the electronic transmission or processing of the conclusion of an agreement or of a transaction instruction; or
an incident arising from the use of a means of access obtained by false or other unlawful means through intrusion into an electronic device used for electronic financial transactions or into an information and communications network under Article 2(1)1 of the Act on Promotion of Information and Communications Network Utilization and Information Protection, etc.
(2) Where monetary loss arises under paragraph (1) or Article 8(4), the Company shall compensate the relevant amount together with accrued interest calculated at the rate determined in advance. Where, however, the amount of loss exceeds the aggregate of such amount and the interest calculated at the predetermined rate, the Company shall compensate the actual amount of loss.
(3) Notwithstanding paragraph (1), the Company shall bear no liability, in whole or in part, even where a User incurs loss, if the Company proves that the User committed any of the following acts intentionally or by gross negligence:
where the User lent a means of access to a third party, delegated the use thereof, or provided it for the purpose of transfer or security (excluding cases where prepaid electronic payment means or electronic currency were transferred or provided as security pursuant to Article 18 of the EFTA);
where the User disclosed, exposed or left unattended a means of access despite knowing, or being readily able to know, that a third party could conduct an electronic financial transaction using the User’s means of access without authority;
where an incident under paragraph (1)3 occurred because the User refused, without justifiable grounds, additional security measures required by the Company at the time of an electronic financial transaction for the purpose of strengthening security, in addition to the verification under Article 6(1) of the EFTA;
where an incident under paragraph (1)3 occurred because the User committed any of the following acts with respect to the medium, means or information used for the additional security measures under subparagraph 3:
(a) disclosing, exposing or leaving the same unattended; or
(b) lending the same to a third party, delegating the use thereof, or providing it for the purpose of transfer or security; or
where loss was incurred by a User that is a corporation (excluding a small enterprise under Article 2(2) of the Framework Act on Small and Medium Enterprises) and the Company fulfilled the sufficient duty of care reasonably required of it, such as by establishing security procedures to prevent incidents and strictly complying therewith.
(4) The Company may temporarily suspend the provision of electronic financial transaction services where grounds such as the maintenance, inspection or replacement of computers or other information and communications facilities arise. In such case, the Company shall give prior public notice to Users, through its internet website or by other means, of the schedule for and the grounds for the suspension of the provision of the electronic financial transaction services.
(1) In any of the following cases, the Company may restrict the transaction pursuant to the relevant instruction for an electronic financial transaction:
where the User does not use the additional security measures provided by the Company in addition to identity verification by means of access;
where the Company has determined that the provision of the transaction is inappropriate by reason of a legal restriction on payment such as seizure, provisional seizure or provisional disposition, or by reason of a violation of the EFTA or other relevant laws and regulations;
where the User falls under grounds for the refusal or suspension of a transaction under anti-money laundering laws and regulations, including the Act on Reporting and Using Specified Financial Transaction Information; or
where an incident such as the forgery, theft or loss of a means of access has been reported.
(2) In any of the following cases, the Company may restrict all account transfers made through the relevant electronic device:
where the certificate determined by the Company has expired or has been revoked; or
where a User who uses electronic financial transactions by computer or telephone has had no record of use for 12 months or longer.
(3) Where the Company has restricted electronic financial transactions pursuant to paragraphs (1) and (2), the Company shall inform the User of the grounds therefor through the relevant electronic device when the User gives a transaction instruction.
(4) In the case of paragraph (2), the User may use electronic financial transactions after completing the procedures determined by the Company, such as the reissuance of the certificate, the extension of its validity period or the confirmation of the User’s intention to continue use.
(1) Where a User has conducted an electronic payment transaction using the Company’s electronic financial transaction services, the User may, in accordance with these Terms, withdraw the transaction instruction before the payment takes effect, by transmitting an electronic document (including transmission by electronic mail) to the contact details set out in Article 9(5) or by means of withdrawal within the service page. The time at which the withdrawal of a transaction instruction takes effect for each service shall, however, be as set out in the relevant Chapter of these Terms or in the separate terms and conditions.
(2) Where the electronic payment has already taken effect, the User may obtain a refund of the payment amount in accordance with the method for the withdrawal of an offer under the relevant laws and regulations, including the Act on Consumer Protection in Electronic Commerce, etc.
(1) The Company shall create and retain records that enable the tracing and retrieval of the details of electronic financial transactions used by Users, and the verification or correction of such details where an Error occurs therein.
(2) The types of records to be retained by the Company pursuant to the preceding paragraph, and the retention periods therefor, shall be as set out in Article 9(3) and (4).
(1) The Company shall not provide to, or disclose to, any third party, or use for any purpose other than its business purposes, any information or data concerning a User’s personal particulars, the User’s accounts, means of access, or the contents and records of electronic financial transactions, acquired in the course of providing electronic financial transaction services, without a basis in law or the consent of the User.
(2) The Company operates a personal information handling policy for the protection of Users’ personal information so that Users may use the electronic financial transaction services safely. The Company’s personal information handling policy may be reviewed on the screen linked from the Company’s website or service page.
(1) A User may request the handling of a dispute — such as the raising of an opinion or a complaint in relation to an electronic financial transaction, or a claim for compensation for loss — through the person responsible for dispute handling and the responsible staff member posted on the Company’s website, or through the following contact details:
• Department and position in charge: Team Leader, Risk Management Team
• Address: 22, Hakdong-ro 7-gil, Gangnam-gu, Seoul, Republic of Korea
• Email: support@crossenf.com
• Telephone: 1670-2624
(2) A User may apply for the handling of a dispute to the Company’s head office or a business office of the Company, pursuant to paragraph (1), in writing (including an electronic document) or by using an electronic device, and the Company shall inform the User of the results of its investigation or handling within 15 days.
(3) Where a User has an objection concerning the Company’s handling of an electronic financial transaction, the User may apply for dispute mediation through the Financial Dispute Settlement Committee of the Financial Supervisory Service, the Consumer Dispute Settlement Commission of the Korea Consumer Agency or a similar body.
The Company shall exercise the due care of a prudent manager so that electronic financial transactions may be processed safely, and shall comply with the standards determined by the Financial Services Commission with respect to the information technology sector — including personnel, facilities and electronic devices for electronic transmission and processing — and with respect to electronic financial business, for each type of electronic financial transaction, so as to ensure the safety and reliability of electronic financial transactions.
(1) Where a User gives consent to a transfer by collection (direct debit), the User shall provide such consent by an electronic writing in the manner and form provided by the Company.
(2) The Company shall provide a method of consent by electronic writing in a manner and form that satisfies the requirements prescribed by the Regulations on the Supervision of Electronic Financial Transactions, and shall submit the consent received from the User to the Korea Financial Telecommunications and Clearings Institute and the relevant financial institution for the purpose of executing the transfer by collection.
(3) A User may request the Company to withdraw the consent given under paragraph (1) before a withdrawal record is entered in the ledger of the User’s account pursuant to the Company’s transaction instruction. A User may withdraw consent to a withdrawal transfer by deregistering, through the service screen, the account registered with the Company. A User may not, however, raise an objection with respect to any withdrawal that occurred prior to such expression of the intention to withdraw consent.
(1) The Company shall specify these Terms to Users and shall, upon a User’s request, deliver a copy of these Terms to the User by transmission of an electronic document (including transmission by electronic mail), by facsimile, by mail or in person.
(2) Where a User requests an explanation of the contents of these Terms, the Company shall explain the material contents of these Terms to the User by either of the following methods:
explaining the material contents of these Terms directly to the User; or
displaying an explanation of the material contents of these Terms through an electronic device in a manner readily understandable to the User, and receiving from the User, through an electronic device, an expression of the User’s intention confirming that the User has sufficiently understood such contents.
(3) The Company may translate these Terms into a foreign language determined by the Company, in addition to Korean, and provide the same in order to assist the understanding of foreign Users. In the event of any discrepancy in interpretation between the translation and the Korean-language original, the Korean-language original shall prevail.
(1) Where the Company amends these Terms, the Company shall post the contents of the amendment on the electronic device through which the relevant electronic financial transaction is conducted (or, where posting on such electronic device is difficult, on an electronic device readily accessible to Users) and shall notify Users thereof, one month prior to the effective date of the amended Terms. Where a User raises an objection, however, the Company shall confirm to the User that it has notified the User of the contents of the amendment of the Terms by an appropriate method.
(2) Notwithstanding paragraph (1), where these Terms have been amended urgently by reason of an amendment of laws or regulations, the Company shall post the amended Terms on an electronic device for at least one month and shall notify Users thereof.
(3) Where the Company posts or notifies the amended Terms pursuant to paragraphs (1) and (2), the Company shall give notice to the effect that "a User may terminate the agreement at any time from the time the contents of the amendment of the Terms are posted or notified until the business day preceding the effective date of the amended Terms, and where the User does not raise an objection to the contents of the amendment of the Terms, the User shall be deemed to have approved the contents of such amendment."
(4) A User may terminate the electronic financial transaction agreement at any time from the time the contents of the amendment of the Terms are posted or notified until the business day preceding the effective date of the amended Terms, and where the User does not raise an objection to the contents of the amendment of the Terms, the User shall be deemed to have approved the amendment of the Terms.
(1) Where any matter individually agreed between the Company and a User differs from a matter set out in these Terms, such agreed matter shall apply in priority to these Terms.
(2) Matters concerning electronic financial transactions that are not set out in these Terms shall be governed by the separate terms and conditions.
(3) Matters (including the definitions of terms) that are not set out in these Terms or in the separate terms and conditions concerning electronic financial transactions shall, in the absence of any other agreement, be governed by the relevant laws and regulations, including the Electronic Financial Transactions Act, the Act on Consumer Protection in Electronic Commerce, etc., and the Specialized Credit Finance Business Act.
Jurisdiction over disputes arising between the Company and a User shall be determined in accordance with the Civil Procedure Act.
The terms used in this Chapter are defined as follows. Any term not separately defined in this Article shall be as set out in Article 2 of these Terms and in the relevant laws and regulations.
"Prepaid electronic payment means" means CROSSPAY, being a certificate issued with transferable monetary value stored by electronic means (including a certificate converted and stored by electronic means), or information on such certificate, which may be used to purchase goods or services from Merchants affiliated with the Company and to pay the price therefor.
"Charging" means purchasing prepaid electronic payment means through a payment method designated by the Company in order to secure a certain amount of prepaid electronic payment means, or being credited with prepaid electronic payment means through activities in the services of the Company or of a third party designated by the Company (the "Services, etc.").
"Merchant" means any of the following persons:
(a) a person who, under an agreement with the Company, provides goods or services to Users in transactions made by prepaid electronic payment means; and
(b) a person who, under an agreement with the Company, acts on behalf of a person providing goods or services to Users in processing transactions made by prepaid electronic payment means, as prescribed by the Enforcement Decree of the EFTA.
(1) A User may charge prepaid electronic payment means by purchasing them by way of account withdrawal, mobile phone, credit card, deposit without a passbook or any other payment method determined by the Company, or by being credited by the Company or a partner of the Company through activities in the Services, etc.
(2) Purchases of prepaid electronic payment means through a payment method designated by the Company may be charged in the amounts designated for each payment method provided for in paragraph (1), and each payment method may have its own limits.
(1) A User may use prepaid electronic payment means in accordance with the period and method of use determined by the Company, and the Company shall give public notice of the details thereof through these Terms or through the service page relating to prepaid electronic payment means.
(2) A User may use prepaid electronic payment means as a payment method when purchasing goods or the like in the Services, etc.
(3) Prepaid electronic payment means shall be deducted immediately upon the completion of the purchase of goods or the like.
(4) Where a User uses prepaid electronic payment means, deduction shall be made in the following order: first, prepaid electronic payment means credited free of charge in the Services, etc.; and thereafter, prepaid electronic payment means purchased by the User.
(5) Where a User cancels a purchase of goods or the like for which prepaid electronic payment means were used, the Company shall, as a general rule, re-charge the prepaid electronic payment means used at the time of the purchase.
(6) Where the Company reduces the Merchants at which prepaid electronic payment means may be used, or changes the conditions of use thereof, in a manner unfavorable to Users, the Company shall notify Users at least seven days prior to the date of such reduction or change, and such notice shall include the fact that the User may claim a refund of the entire balance pursuant to Article 29(4)4 (Refund Standards).
Where a User pays funds using prepaid electronic payment means, the User may withdraw the transaction instruction before the information on the instructed amount reaches the electronic device designated by the Payee.
(1) The extinctive prescription period for prepaid electronic payment means issued by the Company shall be five years (60 months) from the date of purchase, the date of the last charge or the date of last use, and a User may use prepaid electronic payment means issued by the Company only within the extinctive prescription period determined by the Company. The extinctive prescription shall not, however, apply where the Company voluntarily permits the use of the prepaid electronic payment means.
(2) The Company shall inform Users of the material matters relating to extinctive prescription, including the fact that use and refund are not possible after the completion of the extinctive prescription period, in the form of a pop-up notice or a summary consent form at the time of a transaction.
(3) The Company shall notify Users, on at least three occasions including a notice one year prior to the completion of the extinctive prescription period, of the date of completion of the extinctive prescription period and of the fact that use will not be possible if the prepaid electronic payment means are not used before such completion, by electronic mail, text message or other similar means.
(1) The Company may set the validity period of prepaid electronic payment means issued by it by determining a period of one year or longer. Where no separate validity period is set for prepaid electronic payment means, the extinctive prescription period (five years) provided for in Article 27 shall be deemed the validity period.
(2) The validity period of prepaid electronic payment means shall be five years from the date of purchase, the date of the last charge or the date of last use.
(3) The Company shall inform Users of the material matters relating to the validity period, including the fact that use is not possible after the expiry of the validity period of the prepaid electronic payment means but that a refund remains possible until the completion of the extinctive prescription period, in the form of a pop-up notice or a summary consent form at the time of a transaction.
(4) A User may request the Company to extend the validity period within the validity period, and the Company, upon receipt of such request, shall extend the validity period in units of at least three months, absent special grounds.
(5) The Company shall notify Users, on at least three occasions including a notice 30 days prior to the arrival of the validity period, of the arrival of the validity period, of whether and how the validity period may be extended, and of the fact that the balance may be refunded as follows after the expiry of the validity period and before the completion of the extinctive prescription period, by electronic mail, text message or other similar means:
90% in the case of prepaid electronic payment means of KRW 50,000 or less;
95% in the case of prepaid electronic payment means exceeding KRW 50,000; and
100% in the case of a refund of credits such as points or mileage (limited, however, to cases where a credit programme is operated).
(6) Notwithstanding paragraphs (1) through (5), the validity period of prepaid electronic payment means credited or provided by the Company free of charge shall be one year from the date of crediting or provision, and the Company shall inform Users, by electronic mail, text message or other similar means, of free prepaid electronic payment means scheduled to expire, before the arrival of the validity period thereof.
(1) A User may cancel a purchase (charge) within seven days from the date of purchase (date of charge) of prepaid electronic payment means, and may obtain a refund of the entire purchase amount (charged amount).
(2) A User may request the Company to refund prepaid electronic payment means held by the User, and the Company shall refund the entire balance after deducting any refund fee.
(3) The Company shall give prior public notice, through its website or application, of the details concerning whether and on what basis a refund fee is imposed in connection with the refund of prepaid electronic payment means. Where, however, a new fee is imposed or an existing fee is changed, the Company shall give public notice thereof through its website or application one month prior to implementation and shall notify Users individually.
(4) Notwithstanding paragraphs (2) and (3), in any of the following cases the Company shall refund the entire balance recorded in the prepaid electronic payment means without deducting any refund fee:
where the prepaid electronic payment means have become unusable because it has become difficult for Merchants to provide goods or services by reason of a natural disaster or any similar cause;
where Merchants are unable to provide goods or services by reason of a defect in the prepaid electronic payment means;
where the User has used 60% or more (80% or more in the case of KRW 10,000 or less) of the purchase amount of the prepaid electronic payment means (in the case of a chargeable type, based on the balance at the time of the last charge); or
where the Company reduces the Merchants at which prepaid electronic payment means may be used, or changes the conditions of use thereof, in a manner unfavorable to Users. This shall not apply, however, in the case of the closure of a Merchant’s business, the expiry of the term of a Merchant agreement, or any of the following cases:
(a) where a Merchant agreement is terminated pursuant to Article 38(4) of the EFTA;
(b) where a Merchant agreement is terminated pursuant to terms and conditions containing a provision to the effect that the Merchant agreement shall be terminated in the event that the Merchant violates the EFTA, the Act on Consumer Protection in Electronic Commerce, etc., or any other statute relating to user protection and the maintenance of sound transaction order as prescribed by the Regulations on the Supervision of Electronic Financial Transactions;
(c) where, even if the Merchants at which prepaid electronic payment means may be used are reduced, there are sufficient other Merchants at which the prepaid electronic payment means may be used, such that there is no concern of prejudice to the interests of Users wishing to purchase the goods or services provided by Merchants; or
(d) where there are justifiable grounds prescribed by the Regulations on the Supervision of Electronic Financial Transactions that are equivalent to items (a) through (c).
(5) After the expiry of the validity period (limited to cases where the extinctive prescription period has not been completed), a User may claim from the Company a refund of the unused balance recorded in the prepaid electronic payment means, and the Company shall refund at least 90% of the balance (being the amount that the User could have received had the claim been made before the expiry of the validity period), with the specific rate determined in accordance with the subparagraphs of Article 28(5). The return of credits under Article 28(5)3 shall, however, be limited to cases where the customer so requests.
(6) Notwithstanding paragraphs (1) through (5), prepaid electronic payment means credited or provided by the Company free of charge shall be excluded from refund. "Prepaid electronic payment means credited or provided free of charge" in this paragraph and "prepaid electronic payment means credited or provided by the Company free of charge" in Article 28(6) mean those credited through activities in the Services, etc. pursuant to Article 23, subparagraph 2 — such as crediting under an event or promotion, or crediting linked to records of the purchase or use of goods or the like — for the acquisition of which the User has not paid any separate consideration.
(7) In the case of a refund under paragraph (4)4, the Company shall post the details concerning the refund of the prepaid electronic payment means on the Company’s internet website for at least 30 days from the date on which the Merchants are reduced or the conditions of use are changed.
(1) The Company shall set the holding limit for prepaid electronic payment means at a maximum of KRW 2,000,000 per real name, and at KRW 500,000 where the real name has not been verified. The holding limit may, however, be reduced in accordance with the Company’s policy, and the Company shall give prior notice thereof.
(2) A User’s monthly cumulative payment amount and payment limit for each payment method may be restricted in accordance with the Company’s policy and the standards of payment service providers (such as mobile telecommunications carriers and card companies), and the Company shall inform Users of such standards through the Company’s website or by other means.
(1) Where funds such as prepaid electronic payment means have been moved to a payee because a User mistakenly recorded or entered an incorrect receiving financial institution, receiving account number or similar detail (a "Mistaken Remittance"), the User may notify the Company and request the return of the mistakenly remitted amount by having the Company or the receiving financial institution contact the payee.
(2) The Company shall inform the User of the results of its handling of the User’s request, or of the status of the relevant process — including the fact that the payee has been contacted, whether the payee intends to return the funds and, where the payee does not so intend, the grounds therefor — within 15 days from the date on which the User notified the Company of the occurrence of the Mistaken Remittance under the preceding paragraph.
(3) Where the payee does not return the funds notwithstanding a request for the return of the Mistaken Remittance made through the Company or the receiving financial institution, the User may apply to the Korea Deposit Insurance Corporation to use the mistaken remittance return support programmed pursuant to Chapter 5 (Support for the Return of Mistaken Remittances) of the Depositor Protection Act. (Applications may be made in respect of Mistaken Remittances occurring on or after 6 July 2021, the date of entry into force of the amended Depositor Protection Act.) Applications for return support are, however, restricted in the case of transactions in which the Korea Deposit Insurance Corporation cannot obtain the payee’s real name, such as remittances made using contact details or remittance transactions between members of a social networking service.
(4) Where the Korea Deposit Insurance Corporation requests the Company to provide materials such as the grounds for a payee’s inability to return a Mistaken Remittance, the payee’s real name, address and contact details, and the status of the occurrence of Mistaken Remittances, for the smooth performance of its mistaken remittance return support duties, the Company shall comply with such request absent justifiable grounds.
(5) Where the details of a User’s application for mistaken remittance return support through the Korea Deposit Insurance Corporation fall under any of the following, the support procedures of the Korea Deposit Insurance Corporation may be discontinued in accordance with the relevant laws and regulations:
where the User applied for return support by false or fraudulent means;
where it is confirmed by objective materials that the remittance was not a Mistaken Remittance;
where litigation or similar proceedings relating to the Mistaken Remittance for which return support is sought were pending or had been completed prior to the date of application; or
any other case recognized by the Deposit Insurance Committee.
(1) The Company shall separately manage an amount equivalent to 100% or more of Users’ prepaid charged funds through a bank or other prepaid charged funds management institution, by any of the following methods:
trust;
deposit; or
payment guarantee insurance under which Users are the insured.
(2) The prepaid charged funds separately managed by the Company pursuant to paragraph (1) are the property of Users, and a User holding a claim to the prepaid charged funds has the right to be paid, in priority to other creditors, out of the property separately managed by the Company as prepaid charged funds.
(3) In any of the following cases, the Company shall immediately notify the prepaid charged funds management institution of such fact and shall, upon a User’s claim, pay the prepaid charged funds to the User in priority through the prepaid charged funds management institution. In such case, the Company shall, in consultation with the prepaid charged funds management institution, publish in two or more daily newspapers, and post on the Company’s internet website (including any place opened by the Company in a virtual space through an application used on a mobile telecommunications terminal device or any other similar application programme), the grounds for payment, the time of payment, the method of payment and other matters relating to the payment of the prepaid charged funds, within one month from the date on which any of the following grounds arises:
where the Company’s authorisation or registration has been revoked or cancelled;
where a resolution for dissolution has been passed;
where the Company has been declared bankrupt;
where the Company has received an order suspending the entirety of its business of issuing and managing prepaid electronic payment means; or
where grounds equivalent to those in subparagraphs 1 through 4 have arisen.
(4) Where a User intends to claim payment of the separately managed prepaid charged funds pursuant to paragraph (3), the User shall submit to the prepaid charged funds management institution a written document stating the following matters:
information by which the User or the prepaid electronic payment means can be identified; and
information on the account into which the prepaid charged funds are to be paid.
(5) Where prepaid charged funds are to be paid to a User pursuant to paragraph (3), the Company may provide the prepaid charged funds management institution with the following information concerning the relevant User:
information identifying the User;
information on the prepaid charged funds to be paid to the User;
information identifying the prepaid electronic payment means (in the case of prepaid electronic payment means for which the User cannot be identified, such as where the real name under Article 2, subparagraph 4 of the Act on Real Name Financial Transactions and Confidentiality has not been verified); and
any other information necessary for the payment of the prepaid charged funds.
(1) Upon concluding an agreement with a User concerning prepaid electronic payment means, the Company shall notify the User of the following matters concerning the measures for the protection of prepaid charged funds:
the method of separate management of the prepaid charged funds;
information on the prepaid charged funds management institution, such as its name; and
matters concerning the procedures for the payment of the prepaid charged funds, such as the grounds for payment under Article 32(3) and the method of a User’s claim.
(2) The Company shall at all times post on its internet website the contents of the measures for the protection of prepaid charged funds under paragraph (1), and shall immediately amend the posted notification where any detail of the contents of such notification is changed.
These Terms shall enter into force on 1 September 2026.