Terms of Service

Article 6 (Service Availability)

① As a general rule, the Company shall provide Electronic Financial Transaction Services to Users 24 hours a day, 365 days a year. However, the service availability may be adjusted depending on the circumstances of financial institutions or other payment method issuers.

② If suspension of the service is unavoidable due to maintenance, inspection, or other technical reasons related to information and communication facilities, or due to circumstances of financial institutions or other payment method issuers, the Company may temporarily suspend the service after notifying Users of such suspension through an electronic means available for posting at least three (3) days prior to the suspension. However, in cases where suspension is unavoidable due to system failure recovery, emergency program maintenance, or external factors, the Company may suspend the service without prior notice.

Article 7 (Selection, Use, and Management of Access Media)

① In providing Electronic Financial Transaction Services, the Company may select Access Media to verify the identity, authority, and details of transaction instructions of Users.

② Users shall not lend, delegate the use of, transfer, or provide Access Media to any third party for the purpose of collateral.

③ Users shall not disclose, expose, or leave their Access Media unattended to any third party, and shall exercise due care to prevent theft, forgery, or alteration of Access Media.

④ When the Company receives notification from a User regarding the loss or theft of Access Media, the Company shall be liable for damages incurred by the User due to the use of such Access Media by a third party after the time of such notification.

Article 8 (Confirmation of Transaction Details)

① The Company shall enable Users to confirm transaction details (including matters concerning the User's request for correction of errors and the results of such correction) through an electronic method agreed upon in advance with the User. Upon request by a User, the Company shall provide written documentation regarding the transaction details within two (2) weeks from the date of receiving such request through electronic forms, facsimile transmission, or other methods.

② If transaction details cannot be provided due to operational failure of electronic devices or other reasons, the Company shall immediately notify the User of such reasons through electronic document transmission (including transmission via email), and the period during which transaction details cannot be provided shall not be included in the period for written provision.

③ Among the transaction details provided by the Company to Users, the following records shall be retained: transaction account name or number, transaction type and amount, information identifying the counterparty, transaction date, type of electronic device and information identifying the electronic device, access records of electronic devices related to the relevant Electronic Financial Transaction, fees received by the Company for Electronic Financial Transactions, matters concerning the User's consent to withdrawal, matters concerning application for and changes to the terms of Electronic Financial Transactions, and records of electronic financial transactions exceeding KRW 10,000 per transaction for five (5) years. Records of electronic financial transactions of KRW 10,000 or less per transaction, records of transaction approval when using electronic payment instruments, and matters concerning the User's request for error correction and the results thereof shall be retained for one (1) year. However, matters concerning fees received by the Company as compensation for providing Electronic Payment Gateway Services shall be excluded from the transaction details provided.

④ Users who wish to request written documentation pursuant to Paragraph ① may submit such request using the following address and contact information.

      Address: Room 904, 9F, 28 Digital-ro 33-gil, Guro-gu, Seoul, Republic of Korea
      Email: operation@pay-story.co.kr
      Telephone: 02-6370-3603

Article 9 (Correction of Errors, etc.)

① If a User becomes aware of an error while using Electronic Financial Transaction Services, the User may request correction of such error from the Company.

② Upon receiving a request for error correction pursuant to the preceding paragraph, or upon becoming aware of an error itself, the Company shall immediately investigate and process such matter, and shall notify the User of the results within two (2) weeks from the date the request for correction was received or the date the Company became aware of the error, through written notice, telephone, or email.

Article 10 (Compliance Obligations of Merchants, etc.)

① A Merchant shall not refuse to provide goods or services or treat Users unfairly on the grounds that transactions are conducted using a debit electronic payment method, prepaid electronic payment method, or electronic currency (hereinafter referred to as "Electronic Currency, etc.").

② A Merchant shall not require Users to bear merchant fees.

③ A Merchant shall not engage in any of the following acts:

    1. Making it appear that a transaction using Electronic Currency, etc. has occurred without actually providing goods or services
    2. Conducting transactions using Electronic Currency, etc. exceeding the actual sales amount
    3. Conducting transactions using Electronic Currency, etc. under the name of another Merchant
    4. Lending the Merchant's name to another person
    5. Acting as an agent for transactions using Electronic Currency, etc.

④ A person who is not a Merchant shall not conduct transactions using Electronic Currency, etc. under the name of a Merchant.

Article 11 (Recruitment of Merchants, etc.)

① When recruiting Merchants, the Company shall verify whether the applicant intending to become a Merchant is engaged in business activities, etc. However, this shall not apply to Merchants whose status has already been verified pursuant to Article 16-2 of the Specialized Credit Finance Business Act.

② The Company shall notify Merchants of the following matters in accordance with the methods prescribed by the Financial Services Commission:

    1. Merchant fees
    2. Compliance obligations of Merchants pursuant to the preceding Article

③ If a Merchant falls under any of the reasons prescribed by Presidential Decree, such as being sentenced for violating the preceding Article or receiving written notification of such violation from a relevant administrative authority, the Company shall terminate the Merchant agreement without delay unless there are special circumstances.

The term "reasons prescribed by Presidential Decree" refers to any of the following cases:

    1. Where a Merchant has been sentenced for violating Article 26 of the Electronic Financial Transactions Act or Article 10 Paragraph ③ Items 3 through 5 herein
    2. Where the relevant administrative authority has provided written notification that a Merchant has violated Article 10 Paragraph ①, Paragraph ②, or Paragraph ③ Items 3 through 5 herein
    3. Where the relevant administrative authority has provided written notification that the Merchant has closed its business

Article 12 (Company's Liability)

① The Company shall be liable for damages incurred by a User due to incidents arising from the forgery or alteration of Access Media. However, if a User violates Article 7(2), or if a User has disclosed, exposed, or neglected to properly manage his/her Access Media despite knowing or being able to know that a third party could conduct Electronic Financial Transactions using such Access Media without authorization, the Company may have the User bear all or part of such liability.

② The Company shall be liable for damages incurred by a User due to incidents occurring during the electronic transmission or processing of the conclusion of a contract or transaction instructions. However, this shall not apply where the case falls under the proviso of Paragraph ① of this Article, or where damages are incurred by a corporate User (excluding small enterprises as defined under Article 2(2) of the Framework Act on Small and Medium Enterprises), provided that the Company has fulfilled its reasonably required duty of care, including establishing and strictly complying with security procedures to prevent such incidents.

③ The Company shall not be liable to a User where processing cannot be performed or is delayed due to natural disasters, power outages not attributable to the Company, fires, communication failures, or other unavoidable circumstances beyond the Company's control, despite the existence of transaction instructions from the User, provided that the Company has notified the User of the reason for such inability or delay. (This shall include cases where financial institutions, payment method issuers, or mail-order distributors have provided such notification.)

④ The Company shall be liable for damages incurred by a User due to incidents caused by the use of Access Media acquired through false or illegal methods by infiltrating electronic devices used for Electronic Financial Transactions or information and communication networks as defined in Article 2(1)(1) of the Act on Promotion of Information and Communications Network Utilization and Information Protection. However, the Company shall not be liable, in whole or in part, in the following cases:

    1. Where an incident occurs pursuant to Article 9(1)(3) of the Electronic Financial Transactions Act because the User refused, without justifiable reason, additional security measures required by the Company during Electronic Financial Transactions for security enhancement beyond verification using Access Media.

    2. Where an incident occurs because the User performed any of the following acts regarding the media, means, or information used for the additional security measures referred to in Item 1:

        a. Disclosing, leaking, or neglecting such media, means, or information
        b. Lending such media, means, or information to a third party, delegating its use, transferring it, or providing it as collateral

Article 13 (Effectiveness of Electronic Payment Transaction Agreement)

① Where a User's transaction instruction relates to an electronic payment transaction, the Company shall act as an agent for the payment procedure and transmit the details of the transaction instruction so that payment can be completed.

② If a payment transaction is not completed in accordance with a User's transaction instruction regarding an electronic payment transaction, the Company shall return the funds received to the User.

Article 14 (Withdrawal of Transaction Instructions)

① In the case of a transaction instruction relating to an electronic payment transaction, a User may withdraw such instruction before the payment becomes effective by sending an electronic document (including transmission via email) to the person in charge specified in Article 8(3) of these Terms.

② The time when payment becomes effective pursuant to the preceding paragraph refers to the following:

    (i) In the case of electronic fund transfer, the time when the record of deposit of the transaction amount information is completed in the account ledger of the financial institution where the recipient's account is maintained.
    (ii) In the case of payment using other electronic payment methods, the time when the transaction amount information instructed by the User is completely entered into the electronic device of the financial institution where the recipient's account is maintained.

③ Once payment becomes effective, the User may receive a refund of the payment amount in accordance with the methods for withdrawal of subscription under applicable laws, including the Act on Consumer Protection in Electronic Commerce, etc., or as prescribed in Article 5 of these Terms.

Article 15 (Creation and Retention of Records of Electronic Payment Gateway Services)

① The Company shall create and retain records enabling Users to track and search the details of Electronic Financial Transactions, and to verify or correct such details in the event of errors.

② The types of records and methods of retention that the Company must preserve pursuant to the preceding paragraph shall be as prescribed in Article 8(3).

Article 16 (Prohibition on Provision of Electronic Financial Transaction Information)

The Company shall not provide, disclose, or use for purposes other than business purposes, without obtaining the User's consent, any personal information of the User, information regarding the User's account, Access Media, details of Electronic Financial Transactions, or transaction records obtained in the course of providing Electronic Financial Transaction Services.

However, this shall not apply where such disclosure is permitted pursuant to the proviso of Article 4(1) of the Act on Real Name Financial Transactions and Confidentiality, or where otherwise permitted by law.

Article 17 (Termination of Contract and Restriction of Use)

① A User may terminate the service agreement through the service website or customer center.

② The Company may terminate the service agreement or restrict the use of services if a User fails to fulfill obligations under these Terms.

In such cases, the Company shall provide prior notice to the User; however, in urgent circumstances, the Company may provide notice afterward.

If a User objects to the Company's measures, the User may submit an objection through the service website or customer center.

③ If the objection referred to in the preceding paragraph is deemed justified, the Company shall immediately resume the service.

Article 18 (Dispute Resolution and Mediation)

① A User may request dispute resolution, including submission of opinions, complaints, or claims for damages related to the use of Electronic Financial Transaction Services, from the following dispute resolution officer and department.

    Department: Operations Team
    Contact (Telephone, Email): 02-6370-3603, operation@pay-story.co.kr

② If a User submits a dispute resolution request to the Company, the Company shall notify the User of the results of investigation or processing within fifteen (15) days.

③ A User may apply for dispute mediation related to the use of the Company's Electronic Financial Transaction Services with the Financial Dispute Mediation Committee of the Financial Supervisory Service pursuant to Article 51 of the Act on the Establishment, etc. of the Financial Services Commission, or with the Korea Consumer Agency pursuant to Article 33 of the Framework Act on Consumers.

Article 19 (Company's Obligation to Ensure Security)

The Company shall exercise due care as a prudent manager to ensure that Electronic Financial Transactions are processed securely, and shall comply with the standards established by the Financial Services Commission regarding personnel, facilities, electronic devices, information technology systems, and Electronic Financial Transaction operations required for electronic transmission and processing by type of Electronic Financial Transaction in order to ensure security and reliability.

Article 20 (Supplementary Rules and Jurisdiction)

① If matters separately agreed upon between the Company and the User differ from the provisions of these Terms, such agreed matters shall take precedence over these Terms.

② Matters not specified in these Terms shall be governed by applicable consumer protection laws, including the Electronic Financial Transactions Act, the Act on Consumer Protection in Electronic Commerce, etc., the Act on Door-to-Door Sales and Mail Order Sales, and the Specialized Credit Finance Business Act.

③ Jurisdiction over disputes arising between the Company and the User shall be determined in accordance with the provisions of the Civil Procedure Act.

Addendum

These Terms shall enter into force on October 28, 2021.