Electronic Financial Transaction Terms

CHAPTER I   GENERAL PROVISIONS

Article 1 (Purpose)

The purpose of this General Terms and Conditions is to clearly prescribe the relationship of rights and obligations between the Company and users that intend to use the e-financial transaction by setting forth the basic matters on the e-financial transaction (hereinafter referred to as the “e-financial transaction service”) that Hanpass Co., Ltd. (hereinafter referred to as "the Company") provides.

Article 2 (Definitions of Terminologies)

The definitions of terminologies prescribed under this General Terms and Conditions are shown as follows and the definitions of terminologies not separately prescribed under this General Terms and Conditions shall follow the matters prescribed under the ⸢Electronic Financial Transaction Act⸥ and pertinent laws and regulations.

1.         The term of “e-financial transaction” means the transaction that the Company provides the e-financial transaction service through the electronic device and the user uses the same by the automated method without personally encountering or communicating with the employees of the Company.

2.         The term of “e-payment transaction” means the e-financial transaction by the person who provides fund (hereinafter referred to as the “payer”) to cause the Company to use the e-payment means to have the person receiving the fund (hereinafter referred to as the “recipient”) to use the fund.

3.         The term of “e-payment means” means the payment means following the electronic method prescribed under Article 2 (xi) of the ⸢Electronic Financial Transaction Act⸥, such as, prepaid e-payment means, e-currency, etc. However, it shall exclude the debit e-payment means and credit card in accordance with the e-financial transaction service that the Company provides.  

4.         The term of “electronic device” means the device used for forwarding or processing the e-financial transaction information by electronic method and it is the device to forward or process the information by automatic cash dispenser, automated teller machine, terminal for payment, computer, phone and other electronic methods.

5.         The term of “e-document” means the information prepared, forwarded, received or stored in electronic type under the information processing system following Article 2 (i) of the ⸢Framework Act on Electronic Document and Electronic Commerce⸥. A document under this General Terms and Conditions includes e-document.

6.         The term of “user” means any person who intends to use the e-financial transaction service that is provided by the Company after agreeing to this General Terms and Conditions.

7.         The term of “password” means the combination of numbers and alphabet established by user and approved by the Company for protecting the identification and information of the users

8.         The term of “access medium” means the ones set forth under Article 2 (x) of the Electronic Financial Transaction Act such as, e-card and applicable e-information, e-signature information under the ⸢Electronic Signature Act⸥ and signature, user number registered on the Company, bio-information of users in order to secure the genuineness and accuracy of the user and transaction contents or engaging in the transaction instruction for e-financial transaction.

9.         The term of “transaction instruction” means the disposition of e-financial transaction for the Company in accordance with the e-financial transaction contract executed under this General Terms and Conditions by the users.

10.      The term of “error” means the case where the e-financial transaction is not carried out in accordance with the e-financial transaction contract or transaction instruction of user without intentional or negligent act of the user.

11.      The term of “franchise store” means the person providing monetary term or service to the user for transaction under the e-payment means in accordance with the contract with the Company who is not an electronic financial company.

12.      “Fraud Detection System (FDS)” refers to a system designed to monitor a user for their information, transaction history, and behaviors to identify and prevent fraudulent activities.

Article 3 (Organization and Contents of Electronic Financial Transaction Service)

①       The e-financial transaction service of the Company is organized with the following services, and if necessary, detailed contents on the applicable service shall be recorded on this General Terms and Conditions.

1.          Issuance and management service of prepaid e-payment means

2.          Electronic Payment Agency Service

②       In the event the e-financial transaction service is to be added or modified, the Company shall notify the contents to the users in advance and add or modify the applicable e-financial transaction service.

Article 4 (Time of Use)

①       The Company provides the service for 24 hours a day all year long to the users in principle. However, it may defer depending on the situation of the financial company and other companies involving in the means of payment.

②       In the event the Company intends to change the service time, the contents shall be notified for a month at least 1 month prior to the change through an electronic device that is easy to access by the users. However, in the event it is inevitable for recovering system interference, urgent program repairing, external factor or the like, it shall be an exception.

Article 5 (Fees)

①       The Company may receive the e-financial fees by withdrawing from the user’s account or directly in cash from the user, and the payment method shall follow the matters posted or guided by the electronic device used in the e-financial transaction service.

②       The Company shall post the fees (rate) and payment method through the electronic device used in the e-financial transaction service to confirm by the user, and in the event the fees (rate) is modified, Article 20 (Modification of General Terms and Conditions) shall be applied.

Article 6 (Effectiveness of Electronic-payment Transaction Contract)

①       In the event the transaction instruction of the user is on the e-financial transaction, the Company shall act for the payment procedure and the contents of the transaction instruction on the e-financial transaction shall be transmitted to make the payment.

②       In the event the payment transaction is not made in accordance with the transaction instruction on the e-payment transaction of the user, the Company shall return the received fund to the user.

Article 7 (Issuance of Access Medium)

①       When the Company issues the access medium, it shall be issued only after confirming the personal identification in the event there is an application of the user.

②       Notwithstanding the provision of Paragraph 1, the Company may issue when there is no confirmation of application or personal identity of the user e-financial transaction it is applicable to the followings as the case of having the consent of the user for renewing or alternative issuance of the access medium.

1.          In the event the consent is obtained with the writing [including the e-document with the e-signature (it means the one that can confirm the actual name of the signing person)] on the renewal or alternative issuance from the users regarding the access medium that has not used at least 6 months prior to the renewal or alternative issuance scheduled date

2.          In the event there is no objection from users within 20 days after informing the fact of schedule to issue to users at least one month from the scheduled day for the case of access medium that has been used within 6 months from the scheduled day of renewal or issuance day

Article 8 (Selection, Use and Management of Access Medium)

①       The Company shall select the access medium when providing the e-financial transaction service to check the identity of the user, authority, contents of transaction instruction and so forth.

②       In using the access medium, the user shall not engage in any of the following acts unless otherwise provided in other pertinent laws and regulations.

1.          Any act of assigning the access medium or receiving the assignment

2.          Any act of lending the access medium to a third party or delegating the use

3.          Any act of providing the access medium for pledge or other security purpose

4.          Any act of brokering the acts from Sub-Paragraph 1 to Sub-Paragraph 3

③       The user shall not disclose, expose or neglect its access medium to any third party, and due care shall be made for preventing unauthorized use of the access medium or preventing fabrication or alteration.

④       When the Company receives the notice of loss or theft of the access medium from the user, the Company shall have the responsibility for damage compensation inflicted on the user by using the access medium by the third party from that time.

Article 9 (Confirmation of Transaction Contents)

①       The Company shall be able to confirm the transaction contents (including the ‘matters on the fact of requiring to correct the error and disposition result’ of the user) for the user through the inquiry screen of the transaction contents of electronic device  and others used for providing the e-financial transaction service, and in the event the user requests the written distribution on the transaction contents, the writing on the transaction contents shall be distributed by the method of document, fax transmission, mailing (including the transmission by using e-mail) or direct distribution within 2 weeks from the date of receiving the request.

②       When the transaction contents are unable to provide due to the operation interference with the electronic device or other causes, such cause shall be informed by the method of forwarding e-document (including the transmission by using the e-mail) to the user immediately, and the period not to provide the transaction contents on the ground of operation interference and others of electronic device shall not be calculated into the written distribution period.

③       From the transaction contents subject under Paragraph 1, ones with the subject period of 5 years are shown as follows.

1.          Name or number of transaction account

2.          Type and amount of e-financial transaction

3.          Information displaying the other party of e-financial transaction

4.          Date and time of e-financial transaction

5.          Type of electronic device and information that may identify the electronic device

6.          Fees received by the Company in consideration of e-financial transaction

7.          Matters on the withdrawal consent of user

8.          Access record of electronic device regarding the applicable e-financial transaction

9.          Matters on application of e-financial transaction and modification of conditions

10.      Record on e-financial transaction exceeding KRW 10,000 of the transaction amount per case

④       From the transaction contents subject under Paragraph 1, the ones with the subject period of 1 year or less are shown as follows.

1.          Record on small amount e-financial transaction for KRW 10,000 or less of the transaction amount per case

2.          Record on the transaction approval related to the use of e-payment means

3.          Matters on the fact of request to correct the error and process result of user

⑤       In the event the user requests the written distribution set forth under Paragraph 1, it may request to the following address and TEL.

* Address: #4F, S Tower, 92, Achasan-ro, Seongdong-gu, Seoul, Republic of Korea

* E-mail address: contact@hanpass.com

* TEL.: 02-3409-1540

Article 10 (Correction of Error, Etc.)

①       When the user finds out an error in using the e-financial transaction service, the user may request for correction to the Company.

②       When the Company receives a request for correction of error following the provision of the previous Paragraph or when it knows that there is an error, the Company shall immediately investigate to dispose the matter and the cause of disposition outcome for the error shall be informed to the users by the method of document, e-mail, Tel or the like within 2 weeks from the date of receiving the correction request or knowing the error. However, in the event the user requests to inform it via document, it shall be informed via document.

Article 11 (Responsibilities of the Company)

①       In the event the user is inflicted with the losses due to an accident applicable to any of the followings, the Company shall bear the responsibility to compensate the losses.

1.          An accident arising from fabrication or alteration of access medium

2.          Accident occurring from the e-transmission or disposition process of entering into contract or transaction instruction

3.          Accident occurring from the use of access medium that is acquired by false or other unjust method by infiltrating into the information communication network following the electronic device for e-financial transaction or Article 2 (1) (i) of the ⸢Act on Promotion of Information and Communications Network Utilization and Information Protection, Etc.⸥

②       Notwithstanding the provision of Paragraph 1, in the event the Company verifies that the Company has engaged in the following activities due to the intentional or grossly negligent conduct of the user, the Company shall not bear the responsibility even if the user is inflicted with the losses.

1.          In the event a user lends the access medium to a third party or delegates its use, or provides for the purpose of transfer or security (it shall be excluded in the event it is provided for transfer or security for prepaid e-payment means or e-currency in accordance with Article 18 of the ⸢Electronic Financial Transaction Act⸥.)

2.          In the event a third party knows that it can engage in e-financial transaction by using the access medium of user without authority to use or disclose, expose or prevent (including non-deletion) notwithstanding the fact that it is easy to learn about

3.          In the event an accident following Sub-Paragraph 3 of the previous Paragraph occurs, without justifiable cause of the user, by refusing to take the additional security measure required at the time of e-financial transaction for security reinforcement beside the confirmation following Article 6 (1) of the ⸢Electronic Financial Transaction Act by the Company⸥

4.          In the event accident occurs following Sub-Paragraph 3 of the previous Paragraph by engaging in the applicable act for any of the followings regarding the medium, means or information used in additional security measure following Sub-Paragraph 3 for the user

A. Disclosure, exposure or preventive action (including un-deletion)

B. Act of lending to a third party, act of delegating its use, or act to provide for the purpose of transfer or security

5.          In the event there is any loss inflicted to the user that is a corporate entity (excluding the small company following Article 2 (2) of the ⸢Framework Act on Small and Medium Enterprises⸥) with the Company fulfilling the due care obligation reasonably required, such as, establishing the security procedure to prevent accident and fully comply with the procedure

③       In the event there is repairing inspection, cause of replacement or the like for the information communication facility, such as, computer, the Company may temporarily suspend the provision of the e-financial transaction service. In this case, the Company shall notify in advance for the cause of suspension schedule and cause of suspension of providing e-financial transaction service to the user through internet site or the like.

Article 12 (Restriction of Transaction)

①       In the event it is applicable to any of the followings, the Company may restrict any transaction following the applicable instruction of the e-financial transaction.

1.          When the user does not use the additional security measure provided by the Company beside the ID check by the access medium

2.          When the Company acknowledges that the transaction is inappropriate due to garnishment, provisional garnishment, provisional disposition of the like with legal restriction of payment or violation of the ⸢Electronic Financial Transaction Act⸥ and pertinent laws and regulations

3.          When it is shown that all or part of the registered personal information is shown to be fabricated

4.          When the e-financial transaction service is used after subscribing by unauthorized use of someone else’s name or personal information

5.          When the transaction is made by unauthorized use of payment information of someone else or other illegal conduct

6.          In the event the access medium of the user excluding the unregistered prepaid e-payment means is traded or transferred

7.          In the event the user uses the service or approaches to the system by abnormal method

8.          When it interferes with the e-financial transaction of other users or causes the interference in providing the e-financial transaction service of the Company

9.          In the event the user is under investigation as an accused of a criminal conduct from investigative authority

10.      When the cause of service restriction is not resolved within the period prescribed by the Company

11.      When a suspicious fraudulent transaction is detected by the FDS (in this case, the Company will notify the user of the relevant details and proceed with additional procedures to determine whether the transaction was actually fraudulent)

②       In the event it is applicable to any of the followings, entire account transfer through the applicable electronic device may be restricted.

1.          When the effective period of the certificate prescribed by the Company is expired or cancelled

2.          When the user that uses the computer or telephone for the e-financial transaction has no service record for 12 months or longer

③       In the event the Company restricts the e-financial transaction by Paragraph 1 and Paragraph 2, the cause shall be informed through the applicable electronic device when there is a transaction instruction of the user.

④       In the event of Paragraph 1, the user may use the e-financial transaction service in accordance with the consent of the Company after relieving the applicable cause.

⑤       In the event of Paragraph 2, the user may use the e-financial transaction through the procedure of confirmation to extend or continue the service of the effective period of re-issuance of certificate prescribed by the Company.

Article 13 (Withdrawal of Transaction Instruction)

①       In the event the e-financial transaction is made by using the e-financial transaction service of the

Company, the user may withdraw the transaction instruction by the method of withdrawal in the transmission of the e-document (including the transmission by using the e-mail) or service page for the contact recorded on Article 9 (5) in accordance with the matters set forth under this General Terms and Conditions up to the time of having the effectiveness of payment.

②       In the event of having the effectiveness of e-payment, the user may be entitled to return the payment proceeds in accordance with the method of subscription under the ⸢Act on the Consumer Protection in Electronic Commerce, Etc.⸥ and pertinent laws and regulations.

Article 14 (Conservation of E-financial Transaction Record)

①       The Company shall generate and preserve the record to confirm or correct in the event the contents of the e-financial transaction used by the user is traced or searched, or having an error in its contents.

②       Type of record and conservation period for the Company to keep in accordance with the provision of previous Paragraph shall follow the matters prescribed under Article 9 (3) to (4).

Article 15 (Prohibition to Provide E-financial Transaction Information)

①       In providing the e-financial transaction service, the Company shall not use, provide to a third party, disclose or use other than the work purpose with the information or data on the contents and performance of the acquired personal information of the user, account of user, access medium and e-financial transaction other than the pertinent laws and regulations without the consent of the user.

②       The Company shall operate the personal information handling policy for the protection of personal information of the user to use the e-financial transaction service safely by the user. The personal information handling policy of the Company can be confirmed from the personal information processing policy of the homepage or service page of the Company.

Article 16 (Dispute Disposition and Dispute Adjustment)

①       The user may request to dispose the dispute of raising opinion and complaint, claim for damage compensation and others related to the e-financial transaction through the responsible person and person in charge of dispute disposition or following contact as posted on the homepage of the Company.

* Department in charge: Customer Center

* TEL.: 02.3409.1540

* FAX: 02.465.0767

* E-mail: contact@hanpass.com

②       The user may apply for dispute disposition to the head office or business branch of the Company by using the writing or electronic device following Paragraph 1, and the Company shall inform the user with the investigation or processing outcome within 15 days. In the event of investigation through an external agency, such as, investigative authority, the notice of such investigation result may be delayed depending on the schedule of the applicable agency, and if delayed, it shall be

informed to the users.

③       In the event there is any objection to the dispute disposition outcome of the Company following Paragraph 2, the user may petition for dispute mediation related to the use of the e-financial transaction service of the Company through the Financial Dispute Resolution Committee of the Financial Supervisory Commission, Consumer Dispute Resolution Committee of the Korea Consumer Agency or the like.

Article 17 (Obligation to Secure the Safety of the Company)

The Company shall place its due fiduciary duty to safely process the e-financial transaction and secure the safety and reliability of the e-financial transaction by complying with the standard set forth by the Financial Services Commission regarding the information technology field and e-financial works of the personnel, facilities, electronic device and so forth for the electronic transmission or processing for each type of e-financial transaction.

Article 18 (Consent and Withdrawal of Collection Transfer)

①       In consenting to the collection transfer by the user, it shall provide the consent via e-writing following the method and requirement provided by the Company.

②       The Company provides the method to consent through the e-document of method and condition conforming to the requirements set forth by the Electronic Financial Supervisory Regulation, and the matters of consent received from the user for executing the collection transfer shall be submitted to the Korea Financial Telecommunications and Clearings Institute, applicable financial company and the like.

③       The user may request for withdrawal of the consent following the provision of the previous Paragraph until the recording of the withdrawal record on the account ledger of the user in accordance with the transaction instruction of the Company. The user may withdraw the consent for withdrawal transfer by the method of cancelling the registration of the account registered to the Company through the service screen. However, the user shall not raise any objection on the case of withdrawal made prior to indicate its intent of such withdrawal.

Article 19 (Specification, Distribution and Description of General Terms and Conditions)

①       With respect to entering into the e-financial transaction service contract with the user, the Company shall specify this General Terms and Conditions, and in the event there is a request of the user, the copy of the General Terms and Conditions shall be distributed to the user by the method of forwarding the e-document (including the transmission of e-mail), fax forwarding, mail or personal distribution.

②       In the event the user requests for description on the contents of this General Terms and Conditions, the Company shall explain the important contents of the General Terms and Conditions to the user by any one of the following methods.

1.          Directly describe the important contents of the General Terms and Conditions to the user

2.          Indicate the description on the important contents of the General Terms and Conditions to the user to easily comprehend through the electronic device and obtain the indication of intent as fully comprehend the applicable contents through the electronic device from the user

Article 20 (Modification of General Terms and Conditions)

①       When the Company modifies this General Terms and Conditions, the contents shall be posted on the electronic device (in the event it is difficult to post on the applicable electronic device, it is the electronic device easy to access by the user) that carries out the applicable e-financial transaction for the contents at least one month prior to the implementation date of the modified General Terms and Conditions and it shall be notified to the users. However, in the event the user raises any objection, the Company shall confirm that the contents of the change of the General Terms and Conditions has been notified by appropriate method for the user.

②       Notwithstanding Paragraph 1, when the General Terms and Conditions is urgently modified due to the amendment of the pertinent laws and regulations, the modified General Terms and Conditions shall be posted on the electronic device at least one month and notify to the users.

③       In the event the Company posts or notifies the General Terms and Conditions modified in accordance with Paragraph 1 and Paragraph 2, it shall notify the contents with the purpose of “the user may terminate the contract by the business day prior to the implication day of the modified General Terms and Conditions after the posting or notifying the contents of the modification of the General Terms and Conditions, and in the event no objection is raised to the contents of change for the General Terms and Conditions, it shall be deemed to approve to the contents of change of the General Terms and Conditions”.

④       The user may terminate the contract of e-financial transaction up to the business day prior to the implementation day of the General Terms and Conditions modified after posting or notifying the contents of modification of the General Terms and Conditions, and in the event there is no objection to the contents of the modification of the General Terms and Conditions, it shall be deemed as approving the modification of the General Terms and Conditions.

Article 21 (Rules Beside General Terms and Conditions)

①       When the matters individually agreed between the Company and user are different from the matters set forth under this General Terms and Conditions, the agreed matter shall be applied with the priority over this General Terms and Conditions.

②       Matters not set forth under this General Terms and Conditions regarding e-financial transaction shall follow the matters set forth under individual General Terms and Conditions.

③       With respect to the matters not prescribed under this General Terms and Conditions and the Individual General Terms and Conditions regarding the e-financial transaction (included in the definitions of terminologies), it shall follow the matters set forth under the pertinent laws and regulations, including the Electronic Financial Transaction Act, Act on the Consumer Protection in Electronic Commerce, Etc. and others if there are no other stipulated matters.

Article 22 (Jurisdiction)

The jurisdiction regarding any dispute arising between the Company and user shall follow the matters set forth under the ｢Civil Procedure Act｣.

CHAPTER II   ISSUANCE AND MANAGEMENT OF PREPAID ELECTRONIC

PAYMENT MEANS

Article 23 (Definitions)

The definitions of terminologies used in this Chapter are shown as follows.

1.          The term of ‘prepaid e-payment means’ is the token or information on the token that is stored and issued by the electronic method for the monetary value available for transfer that it means the point or the like available to use to purchase monetary term or service by the franchise store affiliated with the Company.

2.          The term of ‘charge’ means to purchase the prepaid e-payment means through the payment means designated by the Company for securing certain amount of the prepaid e-payment means or having the reserve of the prepaid e-payment means through the Company or the activities in the third party service (hereinafter referred to as the “service and others”) designated by the Company.

Article 24 (Recharging of Prepaid E-payment Means)

①       The user may charge the prepaid e-payment means by purchasing the prepaid e-payment means with the account withdrawal, mobile phone, credit card, deposit to account, and other payment means set forth by the Company or by directly receiving with the activities in service and others from the Company or affiliated company of the Company.

②       The purchase of the prepaid e-payment means through the payment means designated by the Company may be charged by the amount designated for each payment means regulated by Paragraph 1 and it may have restricted amount depending on the payment means.

③       When suspicious or actual fraudulent activities have been detected in connection with a reloadable prepaid wallet and it is determined that an investigation is required, the Company may proceed with an investigation with the user regarding funds added onto their wallet and alleged damage; the user shall actively cooperate with the Company in such an investigation.

Article 25 (Use and Deduction of Prepaid E-payment Means)

①       The user may use the prepaid e-payment means in accordance with the period or method of use set forth by the Company and the Company shall notify the detailed matters through this General Terms and Conditions or service page related to prepaid e-payment means.

②       When purchasing the monetary terms, such as, service, the user may use the prepaid e-payment means as the payment means, and in this case, the prepaid e-payment means shall be deducted as much as the amount used at the time of completing the purchase of monetary terms or the like.

③       In the event the purchase of monetary goods and others by using the prepaid e-payment means is cancelled by the user, the Company shall recharge the prepaid e-payment means used in purchasing the monetary goods and the like in principle.

Article 26 (Withdrawal of Transaction Instruction)

In the event the user uses the prepaid e-payment means to pay the funds, the user may withdraw from the transaction instruction until the time to have the information of amount for transaction instruction is reached to the electronic device designated by the recipient.

Article 27 (Effective Period of Prepaid E-payment Means)

①       The validity period of prepaid wallets issued for consideration is the same as the statute of limitations (10 years) stipulated in Article 28(1).

②       The Company must notify users at least three times, including an initial notice (notice one year prior to expiration), regarding the expiration date of prepaid wallets issued for consideration. This notification shall be issued by e-channels, including but not limited to emails and text messages, and must cover: approaching expiration date; eligibility of extension and how to extend the validity period; how to refund the remaining balance before expiration; and the statement that the remaining balance cannot be refunded after the expiration date.

③       Notwithstanding Paragraph 1 to Paragraph 2, the effective period of the prepaid e-payment means that the Company reserved and provided for free shall follow the separately notified matter through the e-financial transaction service page, and the Company shall provide the information on the electronic payment means for free prepayment scheduled for extinguishment via e-mail, text message or the like prior to the maturity of effective period of the free prepaid e-payment means.

Article 28 (Extinguishment of Prepaid E-payment Means)

①       The statute of limitations for prepaid wallets issued for consideration is 10 years from the date of purchase, the date of late reload, or the last date of use. Any remaining balance on a prepaid wallet that the user has not used within this period shall expire and will not be refunded.

②       In the event the consent on these General Terms and Conditions is withdrawn, any prepaid wallet issued free of charge shall expire and will not be refunded.

Article 29 (Cancellation of Purchase, Refund, Etc.)

①       In the event it is within 7 days from the purchase day (charge date) of the prepaid e-payment means, the purchase (charge) may be cancelled and entire purchase amount (charge amount) may be refunded.

②       The user may request the Company for the refund of the applicable currently held by the user and the Company shall refund entire balance after deducting the fees for refund.

③        Detailed contents related to the imposition and imposition standard for refund fees related to the refund of the prepaid e-payment means shall be notified in advance through the homepage or app. However, in the event the fees are newly imposed or existing fees are modified, it shall be notified through the homepage or app at least 1 month prior to the implementation and individually notified to the users.

④       Notwithstanding Paragraphs 2 and 3, in the event it is applicable to any of the followings, all balance amount recorded on the prepaid e-payment means shall be refunded without deducting the refund fees.

1.          In the event the prepaid e-payment means is not to be used since the monetary term or service is difficult to provide in services due to the natural disaster, etc.

2.          In the event the monetary term or service is not provided in the services due to the flaw in the prepaid e-payment means

3.          In the event it uses 60/100 (80/100 for KRW 10,000 or less) of the purchase amount (for the case of recharge type, it is based on the balance at the time of final recharge) of the prepaid e-payment means

⑤       Notwithstanding Paragraphs 1 through 4, for the case of the prepaid e-payment means reserved or provides from the Company for free, it shall be excluded from the subject of refund

⑥       In the event the Company reduces the franchise store that may use the prepaid e-payment means that is disadvantageous to the user or modifies the service condition of the prepaid e-payment means, entire balance amount recorded on the prepaid e-payment means shall be paid. However, it shall be excluded in the following cases.

1.          In the event the franchise store is closed

2.          In the event the term of the franchise contract expires

3.          In the event the similar level of monetary term or service can be purchased from other franchise stores

4.          In the event the franchise store contract is terminated in accordance with the provision of Article 38 (4) of the Electronic Financial Transaction Act

5.          In the event the franchise store contract is terminated for having a concern to disrupt sound transaction order and protection of user or violation of the Electronic Financial Transaction Act or other pertinent laws and regulations

6.          In the event there exists other justifiable cause prescribed under pertinent laws and regulations

Article 30 (Limit of Prepaid E-payment Means, Etc.)

①        The Company has the limit of possession to be up to KRW 2 million per real name regarding the prepaid e-payment means, and in the event the real name is not confirmed, it shall hold KRW 500,000. However, the holding limit may be decreased in accordance with the policy of the Company.

②       Following the standards of the Company’s policy and payment company (mobile communication company, card company or the like), the monthly accumulated payment amount and payment limit for each payment means of the user may be restricted.

Article 31 (Matters on Erroneous Remittance)

①       In the event the user records or input erroneously for the receiving financial company, account number or the like due to a mistake to move the fund of the prepaid e-payment means to the recipient (hereinafter referred to as the ‘erroneous remittance’), it shall be notified to the Company to request for return of the erroneous remittance amount by contacting the recipient through the Company, financial company or the like.

②       In the event there is no fact of contact to recipient, presence of intent to return of recipient, or intent to return by recipient, the Company shall inform the user within 15 days from the date of notice to the Company for the result of disposition of the request of the user for its cause or progress status for disposition to have the occurrence of ‘erroneous remittance’ of the previous Paragraph.

③       In the event the recipient does not return in spite of request to return the erroneous remittance through the Company or receiving financial company, the user may apply to use the erroneous remittance return support system to Deposit Insurance Corporation in accordance with Chapter 5 (Erroneous Remittance Return Support) of the ⸢Depositor Protection Act⸥ (Available to apply for the erroneous remittance arising after Jul. 6, 2021, the implementation date of the amended ⸢Depositor Protection Act⸥). However, any transaction unable to acquire with the actual name of the recipient by the Deposit Insurance Corporation, such as, remittance transaction and others between SNS members or remittance through contact shall be restricted to apply for return.

④       In the event the Company requests for data including the cause of impossible to return by the recipient of the erroneous remittance, address and contact of actual name, status of occurrence for erroneous remittance and others to the Company in order to undertake flawless performance of the works involving the return of the erroneous remittance by Deposit Insurance Corporation and it shall be followed unless otherwise having a justifiable cause.

⑤       In the event the contents applied by the user for refund support of erroneous remittance through the Deposit Insurance Corporation is applicable to any of the followings, the support procedure of the Deposit Insurance Corporation may be suspended in accordance with the pertinent laws and regulations.

1.          In the event the support of return is applied by the user with falsified or illegal method

2.          In the event it is confirmed by objective data as not an erroneous remittance

3.          In the event there is any litigation for erroneous remittance that is applied with the support of return prior to the application day is pending or completed

4.          Other cases where it is acknowledged by the Deposit Insurance Commission

Article 32 (Management of Prepaid Charge Proceeds and Related Notification)

①       The Company shall classify the prepaid charge proceeds of the user from the unique assets to entrust to an outside financial institution or subscribe to a payment guarantee insurance.

②       The Company shall check for mutual consistency of the total amount of fund in actual management, such as, trust amount, with the total amount of the prepaid charge proceeds for each business day, and the scale of prepaid charge proceeds at the end of each term (within 10 days after the term expiration) and trust contents, subscription to payment guarantee insurance, coverage amount and so forth to the homepage (https://www.hanpass.com/main) for notification.

③       In the event it is applicable to any of the followings, the Company shall pay the prepaid charge proceeds to the user with priority through trust company, insurance company or the like. In this case, the fact, payment period of prepaid charge proceeds, payment location and other matters related to the payment of the prepaid charge proceeds shall be notified through internet homepage after notifying the matters related to the payment is notified to two or more daily newspapers within a month.

1.          In the event the registration is cancelled or withdrawn

2.          In the event the issuance and management affairs for dissolution or prepaid e-payment means is terminated

3.          In the event there is a sentence for bankruptcy

4.          In the event the order of suspension for issuance and management affairs of the prepaid e-payment means

5.          In the event there is a cause applicable to Sub-Paragraph 1 through Sub-Paragraph 4.

Article 33 (Entrustment of Prepaid Charge Proceeds and Payment Guarantee Insurance)

①       The Company shall entrust all prepaid charge proceeds of the user and instruct the trust company to operate it as the safe asset. However, as of the end of the previous month, up to the amount applicable (hereinafter referred to as the “payment reserve”) for 1/10 of the entire prepaid charge proceeds (excluding the amount subscribed in the payment guarantee insurance following Paragraph 4), it may be deposited to the trust company in a form of available for frequent deposit and withdrawal from the safe assets, such as general deposit and so forth

②       The Company shall designate the user as the beneficiary of the entrusted prepaid charge proceeds (excluding the payment reserve). However, in the event the individual user is difficult to designate as a beneficiary, the special purpose company without the interest relations with the Company may be designated as the beneficiary.

③       The Company shall entrust the contents of modification of the user and fund of the day promptly by the following day.

④       Notwithstanding Paragraph 1, in the event part of the prepaid charge proceeds is not entrusted but to make direct operation (excluding the payment reserve) for inevitable cause, the Company shall subscribe to the payment guarantee insurance for all amount subject for operation, and in this case, the Company shall operate the prepaid charge proceeds subject for operation as the safe asset.

Article 34 (Loyalty Program)

①       The Company may grant points (hereinafter “Points”) to users in accordance with its policies when users meet conditions specified by the Company, such as using e-financial transaction services, participating in events or promotions, or completing games or achievements.

②       Specific details regarding point accrual criteria, accrual rates, how and where to use, validity periods, expiration, restrictions, corrections, and other operational matters shall be governed by the “Loyalty Program Policy.” The Company shall post the “Loyalty Program Policy” on its official website or mobile app, and shall post any changes to it using the same way.