2.0

Travel Pay Terms of Service

• The Member must have a real-name verified bank account in their own name that is capable of normal deposits and withdrawals and must pass account verification by a method designated by the Company. The Member must also agree to withdrawal via open banking under this agreement or related policies.

• The Member must possess a mobile phone or other electronic device capable of running the App that is registered in their own name with a telecom provider. Membership must be applied for in the Member’s own name and must pass identity verification conducted via authorized agencies.
The Company may request other information or authentication methods besides bank account verification to provide services or identity verification. Members must comply with identity verification methods designated by the Company.
 

1. The validity period of the Access Medium shall be indicated on the face of the issued Access Medium.

2. The Company shall conduct a review of the Member whose Access Medium has reached its expiration date and renew the Access Medium for Members who meet the renewal issuance requirements. If the Member does not meet such requirements, the renewal may be denied.

3. For any Member who has used the Access Medium within six (6) months prior to the scheduled renewal or denial date, the Company shall notify the Member, at least one (1) month prior to the scheduled date, of the possibility of renewal or denial and the right to raise an objection, using at least two (2) methods among written notice, telephone call, email, or SMS. Objections may be raised within 20 days from the date of notice. If no objection is raised within this period, the Company may proceed with the renewal or denial of the Access Medium.

4. The Company shall notify the Member at least three (3) times, including at least once one month prior to the expiration date, via email or SMS, of the upcoming expiration of the Travel Pay balance and the fact that 90% of the remaining balance may be refunded before the statute of limitations is completed after the expiration date.

5. For any Member who has not used the Access Medium within six (6) months prior to the scheduled renewal issuance date, the Access Medium shall only be renewed with the Member’s written consent (including certified electronic documents under applicable laws). The Member shall not be held liable for the use of a renewed Access Medium issued without consent. The Company shall bear the burden of proof regarding such consent.

6. Even after the Access Medium is renewed, this Agreement shall remain in effect.

1. A single Access Medium may be topped up with multiple currencies (USD, JPY, EUR, AUD, HKD, SGD, THB, VND, CNY, PHP, MYR, IDR, GBP, CAD, TWD, NOK, NZD, DKK, MXN, MNT, BRL, SEK, CHF, AED, ISK, CZK, QAR, PEN, PLN, HUF, TRY, EGP, KHR, INR, LAK, ZAR, KES, FJD, MUR, XPF, MOP, NPR, UZS, KZT, SAR, KRW).

2. There is no limit to the number of top-ups. The minimum top-up or re-top-up amount is equivalent to 1 USD. Unless the Member applies for a limit increase, the maximum top-up limit including the balance is KRW 2,000,000 equivalent.

3. The exchange rate applied at the time of top-up is the rate posted in the App (based on Hana Bank’s base rate).

4. Members may top up by withdrawing from a KRW-denominated account registered in the App. For automatic top-up, consent to use the automatic top-up service is required.

5. The Company does not pay interest on topped-up Travel Pay amounts.

6. The supported currencies may change or be added.

7. The balance by currency can be viewed in the App’s balance inquiry screen.

1. The Company may revise and restrict the Member’s top-up limit in accordance with amendments to applicable laws or regulations such as the Electronic Financial Transactions Act or the Foreign Exchange Transaction Regulations.

2. The annual maximum foreign currency payment amount using topped-up Travel Pay is equivalent to USD 100,000. This amount is based on the purchase amount, and refunds or cancellations are not included in the annual total.

3. The annual maximum KRW payment amount using Travel Pay via the Access Medium is subject to the Company’s internal policies and can be confirmed in the Travel Wallet App under [My] → [Usage Limit].

4. Top-ups shall be restricted if the maximum limit is exceeded or if the Access Medium has been reported as lost or stolen.

1. The Member may use the topped-up Travel Pay balance without limit on the number of transactions during the validity period of the Access Medium.

2. Payments via Access Medium are limited to single payments only; installment purchases and short-term cash advances are not allowed.

3. Members may use Travel Pay at merchants contracted with the Company via the Access Medium, including domestic credit card companies and international network merchants, for services or goods in both online and offline settings abroad.

4. Each transaction amount and related fees will be immediately deducted from the card balance.

5. Use of currencies other than the topped-up currencies is not permitted.

6. When Travel Pay is used as a payment guarantee via the Access Medium, the expected payment amount may be temporarily held and become unavailable for use. The final billed amount from the merchant will be charged.

7. When making a payment transaction using Travel Pay, the Member shall comply with the foreign exchange control regulations of the country in which the transaction takes place.

8. The Access Medium can be used by entering a password or signing on the receipt. However, for non-face-to-face transactions such as e-commerce, where the merchant uses alternative authentication or agrees to bear potential losses from omitting such authentication, the signature may be waived.

9. Travel Pay service shall, in principle, be available 24/7 year-round unless there are unavoidable operational or technical difficulties. The Company may suspend the service for a defined period due to system needs or due to issues with partner financial institutions. In such cases, prior notice will be provided through the website or app. If prior notice is not possible, notice shall be provided without delay thereafter.

1. Exchange rates applied when converting to foreign currencies are those posted in the App under [More] - [Exchange Rates].
• USD, JPY, and EUR are applied at the base rate.
• For other currencies, a fee of 0.5%–2.5% is added to the base rate depending on the currency.

2. The card payment fee for all currencies is 0%.

3. When withdrawing from overseas ATMs, the local ATM operator may charge a withdrawal fee.

4. When the Company changes the fee policy, it shall notify Members at least one (1) month in advance via the App [More] - [Terms of Use] and on the Company’s website. Members can check updated fees in the App or this Agreement.

1. The Company shall allow Members to view their transaction details (including the Member’s request for error correction and its results) through [More] - [Pay Guide] in the App. If a Member requests a written copy, the Company shall provide it via fax, mail, or email within 2 weeks.

2. If it is impossible to provide the details due to electronic device failure or other reasons, the Company shall immediately notify the Member via electronic means (including email). The duration of such device failure shall not count toward the 2-week delivery period.

3. The following transaction records shall be retained for 5 years:
• Account name or number
• Type and amount of electronic financial transaction
• Information identifying the counterparty
• Date and time of transaction
• Type of electronic device and identifier
• Fees collected by the Company
• Member’s withdrawal consent
• Device access logs related to the transaction
• Changes to application and conditions
• Transactions over KRW 10,000

4. The following records shall be retained for 1 year:
• Electronic transactions of KRW 10,000 or less
• Records of transaction approvals related to use of electronic payment instruments
• Records of the Member’s request for error correction and its results

5. To request a written transaction statement, the Member may contact:
• Email: support@travel-wallet.com
• Phone: 02-522-0400

• When the password is entered incorrectly more than 3 consecutive times

• When there is a reasonable ground to believe that the transaction using the Access Medium is unauthorized use by a third party or involves fraudulent or illegal purposes

• When the Member violates any of the obligations under Article 6 Paragraph 3, Article 11 Paragraph 7, or Article 26 Paragraph 2 of these Terms

• When the Member interferes with or is reasonably likely to interfere with the Company’s services by overloading the Company’s systems using unauthorized means such as hacking, viruses, illegal software, automated tools (scripts, agents, crawlers), etc., without the Company’s approval

• If use of the remaining balance is impossible due to force majeure such as a natural disaster or merchant inability to provide goods/services

• If goods or services cannot be provided due to a defect in the Travel Pay service

• If 60% or more of the balance (or 80% or more if the purchase amount is KRW 10,000 or less) has been used

• If the Company unilaterally reduces the number of merchants where Travel Pay is usable or changes usage conditions in a way unfavorable to the Member (excluding justified reasons under the Enforcement Decree of the Electronic Financial Transactions Act, such as merchant closure or contract expiration)

• If the Member’s balance is less than the requested refund amount

• If the Member’s balance is less than the refund fee

• In cases of intentional misuse by the Member

• In cases of misuse due to lending, transferring, storing, delegating, pledging, illegal loan, or unsigned Access Medium

• In cases of misuse by family or cohabitants due to reasons similar to Item 2

• If the Member delays reporting without just cause after knowing of the loss or theft

• If the Member refuses to cooperate without just cause with the card company’s investigation into the unauthorized use

• Address: 5F, Youngpoong Building, 542 Gangnam-daero, Gangnam-gu, Seoul, Korea

• Email: support@travel-wallet.com

• Phone: +82-2-522-0400

• Incidents arising from the forgery or alteration of the Access Medium

• Incidents occurring during the electronic transmission or processing of contract execution or transaction instructions

• Incidents caused by unauthorized use of an Access Medium acquired through intrusion into electronic devices used for electronic financial transactions or into an information and communication network as defined in Article 2(1)(1) of the Act on Promotion of Information and Communications Network Utilization and Information Protection, etc., using fraudulent or other unlawful means

• The Member lent or delegated use of the Access Medium to a third party, or provided it as collateral or transferred it (except where such transfer or provision as collateral of prepaid electronic payment instruments or electronic money is permitted under Article 18 of the Electronic Financial Transactions Act)

• The Member disclosed, exposed, or negligently managed the Access Medium, despite knowing or being able to easily recognize that a third party could use it for unauthorized electronic financial transactions

• The Member, without justifiable reason, refused to comply with additional security measures required by the Company during electronic financial transactions for enhanced security, resulting in an incident described in Article 20(3)

• The Member committed any of the following with respect to the medium, method, or information used for such additional security measures, leading to an incident described in Article 20(3):
• Disclosing, exposing, or negligently managing such information
• Lending, delegating use, transferring, or providing it as collateral to a third party

1. If there are any changes to the Member’s information such as English name, English address, phone number, mobile number, or email address, the Member shall promptly notify the Company through customer service or the app.

2. If the Member fails to provide such notice without the Company’s fault and, as a result, notifications or documents from the Company are delayed or not received, the Member shall bear any resulting damages. In such cases, notifications are deemed delivered at the usual time of arrival, and the Company shall announce important matters to the Member via the app.

• Trust

• Deposit

• Payment guarantee insurance designating the Member as the insured

• The Company’s license or registration is revoked or canceled

• The Company resolves to dissolve

• The Company is declared bankrupt

• The Company is ordered to suspend all issuance and management of prepaid electronic payment means

• Other events equivalent to the above items

• Identifying information of the Member or the prepaid electronic payment means

• Information on the account to which the prepaid funds should be paid

• Identifying information of the Member

• Information on the prepaid funds to be paid to the Member

• Information identifying the prepaid electronic payment means (if the Member cannot be identified due to lack of real-name confirmation under the Act on Real Name Financial Transactions and Confidentiality)

• Other information necessary for payment of prepaid funds

• The method of separate management of prepaid funds

• Information regarding the prepaid funds management institution, such as its name

• Reasons for payment, method of claim by the Member, and procedures for payment of prepaid funds pursuant to Article 29 Paragraph 3

• Providing economic benefits such as discounts or reward points to users of prepaid electronic payment means without separately managing 100 percent or more of the prepaid funds, in violation of the financial soundness standards specified and publicly announced by the Financial Services Commission pursuant to the Electronic Financial Transactions Act and its Enforcement Decree

• Providing economic benefits without separately managing an amount equivalent to 100 percent or more of the Member’s prepaid funds pursuant to Article 29 Paragraph 1

• Reducing the number of affiliated merchants where prepaid electronic payment means can be used or changing the terms of use of such means in a way that is disadvantageous to the Member without providing notice at least seven days prior to the effective date

• Any other acts defined by the Enforcement Decree of the Electronic Financial Transactions Act that may harm Member protection or disrupt sound transactional practices