Article 1 (Purpose)

These terms and conditions are intended to establish the basic matters regarding electronic financial transactions between Korea Payment Service Co., Ltd. (hereinafter referred to as the "Company") and users in connection with the use of electronic payment agency services provided by the Company.



Article 2 (Definition of Terms)

The definitions of terms used in these terms and conditions are as follows:

① "Electronic financial transaction" means a transaction in which the Company provides electronic payment agency services through electronic devices, and users use such services in an automated manner without directly meeting or communicating with the Company's employees.

② "Electronic payment means" means electronic fund transfer, debit electronic payment means, prepaid electronic payment means, electronic currency, credit cards, electronic bonds, and other payment means according to electronic methods.

③ "Electronic payment agency service" means a service that transmits or receives payment information or acts as an intermediary for settlement of consideration in connection with the purchase of goods or use of services by electronic means.

④ "User" means a person who agrees to these terms and conditions and uses the electronic financial transaction services provided by the Company.

⑤ "Access medium" means means or information used to give transaction instructions or to ensure the authenticity and accuracy of users and transaction contents in electronic financial transactions, including electronic cards and equivalent electronic information (including credit card numbers), certificates under the "Electronic Signature Act", user numbers registered with the Company, biometric information of users, and passwords necessary for using the above means or information as prescribed in Article 2, Subparagraph 10 of the Electronic Financial Transactions Act.

⑥ "Transaction instruction" means a user's instruction to the Company to process electronic financial transactions in accordance with the electronic financial transaction contract concluded under these terms and conditions.

⑦ "Error" means a case where electronic financial transactions are not performed in accordance with the electronic financial transaction contract or the user's transaction instruction without the user's intent or negligence.

⑧ "Information and communication network" means an information and communication system that collects, processes, searches, transmits, or receives information by using telecommunications facilities or by utilizing telecommunications facilities and computer and computer utilization technologies.

Except as defined in this Article and other provisions of these terms and conditions, the Electronic Financial Transactions Act and other related laws and regulations shall apply.



Article 3 (Disclosure and Amendment of Terms and Conditions)

① The Company shall post these terms and conditions before users use the electronic financial transaction services and allow users to check the important contents of these terms and conditions.

② The Company shall provide users with copies of these terms and conditions by electronic document transmission when requested by users.

③ When the Company amends the terms and conditions, it shall notify users by posting the amended terms and conditions on the initial screen for using the electronic financial transaction services provided by the Company and on the Company's homepage for one month before the implementation.



Article 4 (Types of Electronic Payment Agency Services)

The electronic payment agency services provided by the Company are classified as follows according to the payment means:

1. Credit card payment agency service: When the payment means provided by the user for payment of the payment amount is a credit card, the Company transmits and receives credit card payment information through the electronic payment system and acts as an intermediary for settlement of the payment amount.

2. Account transfer agency service: A service in which the Company acts as an intermediary for settlement through the Company's electronic payment system when users transfer payment amounts to financial institutions. It refers to a real-time remittance service that allows users to withdraw from their registered account and transfer to the desired account.

3. Virtual account service: When users want to pay the payment amount in cash, a service in which the payment amount is paid through the automatic issuance of a unique one-time account for the user through the Company's electronic payment system.

4. Others: Services provided by the Company include 'mobile phone payment agency service', 'ARS payment agency service', 'gift certificate payment agency service', etc., depending on the type of payment means.



Article 5 (Service Hours)

① The Company shall provide electronic financial transaction services to users 24 hours a day, 365 days a year as a principle. However, this may be determined differently depending on the circumstances of financial institutions or other payment means issuers.

② When service suspension is unavoidable due to maintenance, inspection, or other technical needs of information and communication facilities or circumstances of financial institutions or other payment means issuers, the Company may temporarily suspend service after posting the fact of service suspension through electronic means that can be posted up to 3 days before service suspension. However, in unavoidable cases such as system failure recovery, urgent program maintenance, and external factors, the service may be suspended without prior notice.



Article 6 (Selection, Use, and Management of Access Medium)

① The Company may select access medium when providing electronic financial transaction services to verify the identity, authority, and content of transaction instructions of users. In addition, the Company does not use such information and immediately destroys it when requested so that it cannot be used for any purpose.

② Users may not lend, delegate use, transfer, or provide access medium to third parties for security purposes.

③ Users shall not disclose, expose, or leave their access medium to third parties, and must pay sufficient attention to prevent theft, forgery, or alteration of access medium.

④ The Company is responsible for compensating for damages caused to users by third parties using the access medium from the time it receives notification of loss or theft of the access medium from users. Please be careful about leakage.



Article 7 (Confirmation of Transaction Details)

① The Company shall allow users to check their transaction details (including 'matters concerning the fact of error correction requests and processing results of users') through electronic methods agreed in advance with users, and when requested by users, provide written documents concerning transaction details by facsimile transmission within 2 weeks from the date of receipt of the request.

② Among the transaction details provided by the Company to users, the name or number of the transaction account, type and amount of the transaction, information indicating the counterparty of the transaction, transaction date, type of electronic device and information that can identify the electronic device, and connection records of electronic devices related to the electronic financial transaction shall be kept for 5 years, and records of small electronic financial transactions of 10,000 won or less per transaction, records of transaction approval when using electronic payment means, and matters concerning the fact of users' error correction requests and processing results shall be kept for 1 year.

③ When users want to request the written document provision specified in Paragraph 1, they can request it at the following address and phone number:

- Address: 3rd Floor, Hyangwon Building, 11, Seolleung-ro 121-gil, Gangnam-gu, Seoul 06100

- Email: master@koreapays.co.kr

- Phone: 1544-6872



Article 8 (Error Correction, etc.)

① When users become aware of errors in using electronic financial transaction services, they may request correction from the Company.

② When the Company receives a request for error correction under the provisions of the preceding paragraph, it shall immediately investigate and process it, and notify the user of the results within 2 weeks from the date of receipt of the correction request.



Article 9 (Company's Responsibility)

① The Company is responsible for compensating for damages caused to users due to the occurrence of the following reasons:

1. Accidents caused by forgery or alteration of access medium

2. Accidents that occurred in the process of electronic transmission or processing of contract conclusion or transaction instructions

3. Accidents caused by the use of access medium obtained by intruding into electronic devices or 'information and communication networks' for electronic financial transactions by false or other fraudulent means

② Notwithstanding Paragraph 1 of this Article, users shall bear all or part of the responsibility for accidents caused by the following reasons:

1. When damages occur to corporate users (excluding small enterprises under Article 2, Paragraph 2 of the "Basic Act on Small and Medium Enterprises") and the Company has established security procedures and thoroughly complied with them to prevent accidents, fulfilling sufficient duty of care reasonably required

2. When users violate Article 6, Paragraph 2 and lend, delegate use, transfer, or provide access medium to third parties for security purposes

3. When users knew or could have known that third parties could conduct electronic financial transactions without authority using the user's access medium, but nevertheless disclosed, exposed, or left their access medium to third parties

4. When users refuse additional security measures required by the Company for electronic financial transactions for security enhancement without justifiable reasons, despite the Company's request, and accidents occur due to intrusion into the Company's information and communication network by false or other fraudulent means

5. When users engage in any of the following acts regarding access medium used for additional security measures under Subparagraph 3, and accidents occur due to intrusion into the Company's information and communication network by false or other fraudulent means:

a. Acts of disclosure or leaving unattended

b. Acts of lending to third parties, delegating use, or providing for transfer or security purposes



Article 10 (Effectiveness of Electronic Payment Transaction Contract)

① When a user's transaction instruction relates to electronic payment transactions, the Company acts as an intermediary for the payment procedure and transmits the content of the transaction instruction relating to electronic payment transactions to make the payment.

② When payment transactions are not made in accordance with the user's transaction instruction relating to electronic payment transactions, the Company shall return the received funds to the user.



Article 11 (Withdrawal of Transaction Instructions)

① Users may withdraw transaction instructions relating to electronic payment transactions before the effectiveness of payment occurs.

② The timing of the effectiveness of payment in the preceding paragraph means the following reasons:

1. In the case of electronic fund transfer, when the deposit record in the account transfer ledger of the financial institution where the payee's account is opened is completed for the information of the amount specified in the transaction instruction

2. In the case of payment by other electronic payment means, when the information of the amount specified in the transaction instruction is input into the electronic device of the financial institution where the payee's account is opened

③ When the effectiveness of payment occurs, users may receive a refund of the payment amount in accordance with the method of withdrawal of offers under the Consumer Protection Act in Electronic Commerce, etc. and other related laws and regulations.



Article 12 (Creation and Preservation of Electronic Payment Agency Service Usage Records)

① The Company creates and preserves records that allow users to track, search, or confirm or correct the content of electronic financial transactions when errors occur.

② The types and preservation methods of records that the Company must preserve in accordance with the provisions of the preceding paragraph shall follow those specified in Article 7, Paragraph 2.



Article 13 (Prohibition of Provision of Electronic Financial Transaction Information)

The Company shall not provide, disclose, or use for purposes other than business purposes to third parties without the user's consent, personal information of users, user accounts, access medium, and information or materials concerning the content and performance of electronic financial transactions acquired in providing electronic financial transaction services. However, this shall not apply in cases under the proviso of Article 4, Paragraph 1 of the "Act on Real Name Financial Transactions and Guarantee of Secrecy" and other cases as prescribed by other laws.



Article 14 (Dispute Processing and Dispute Mediation)

① Users may request dispute processing such as opinions and complaints regarding the use of electronic financial transaction services and claims for damages from the following dispute processing responsible person and person in charge:

- Person in charge: Risk Managing

- Contact: 1544-6872

- FAX: 02-6929-1885

- E-mail: ckj860826@koreapays.co.kr

② When users apply for dispute processing against the Company, the Company shall inform users of the investigation or processing results within 15 days.

③ Users may apply for dispute mediation related to the use of the Company's electronic financial transaction services to the Financial Dispute Mediation Committee of the Financial Supervisory Service under Article 51 of the "Act on the Establishment of Financial Supervisory Organizations" or the Consumer Protection Agency under Article 31, Paragraph 1 of the "Consumer Protection Act".



Article 15 (Company's Obligation to Ensure Stability)

The Company complies with standards set by the Financial Services Commission regarding information technology sectors such as personnel, facilities, and electronic devices for electronic transmission or processing by type of electronic financial transaction and electronic financial business to ensure the safety and reliability of electronic financial transactions.



Article 16 (Supplementary Provisions and Jurisdiction)

① When matters individually agreed between the Company and users differ from matters specified in these terms and conditions, such agreed matters shall take precedence over these terms and conditions.

② Matters not specified in these terms and conditions shall follow the Electronic Financial Transactions Act, Consumer Protection Act in Electronic Commerce, etc., Act on Consumer Protection in Electronic Commerce, etc., Telecommunications Sales Act, Credit Finance Business Act, and other consumer protection related laws and regulations.

③ Jurisdiction over disputes arising between the Company and users shall follow the Civil Procedure Act.



These terms and conditions shall apply from October 8, 2018.