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Terms and Conditions for the BC Card-Paybook x Travel Wallet Foreign Currency Money Service

Article 1 (Purpose)

Article 2 (Definitions of Terms)

1. The “BC Card-Paybook x Travel Wallet Foreign Currency Money Service” (hereinafter the “Partnered Service”) refers to a transaction in which the Company provides a foreign currency-denominated prepaid electronic payment instrument via the Partner’s mobile platform to members of the Partner who wish to use the Partnered Service, enabling users to load and use the instrument through electronic devices without direct contact or communication with Company staff, in an automated manner.

2. “BC Paybook Foreign Currency Money” refers to a transferable monetary value issued and managed by the Company in partnership with the Partner, stored electronically in the form of a certificate (or information converted and stored electronically), which users can load through the Partner’s mobile platform, “Paybook App,” and use to pay for goods or services at domestic or overseas merchants via a card issued through the Partner.

3. “Electronic Device” means a device used to transmit or process electronic financial transaction information electronically, including but not limited to ATMs, automatic deposit/withdrawal machines, payment terminals, computers, telephones, and any other electronic means.

4. “Access Media” means the card issued to the user through the Partner to use BC Paybook Foreign Currency Money, and refers to any tools or information used to issue transaction instructions or verify the identity and accuracy of the user and the transaction. This includes electronic cards, digital credentials, digital signature generation information and certificates under the Digital Signature Act, registered user numbers, biometric data, and associated passwords as defined in Article 2(10) of the Electronic Financial Transactions Act.

5. “User” means a member of the Partner who agrees to these Terms and uses the BC Paybook Foreign Currency Money issued by the Company via the Partner.

6. “Transaction Instruction” refers to the user’s instruction to the Company to process an electronic financial transaction in accordance with the electronic financial transaction agreement.

7. “Error” refers to a case where an electronic financial transaction is not executed according to the agreement or the transaction instruction due to no fault or negligence of the user.

8. “Merchant” refers to:
• Any entity that, under an agreement with the Partner, provides goods or services to users in exchange for BC Paybook Foreign Currency Money;
• Any entity that, under an agreement with the Partner, facilitates electronic payments on behalf of another merchant, as defined by the Enforcement Decree of the Electronic Financial Transactions Act.

9. Terms not otherwise defined in this Article or other provisions of these Terms shall follow the definitions provided by the Company’s “Travel Pay Terms of Use,” the Electronic Financial Transactions Act, the Act on the Consumer Protection in Electronic Commerce, and other applicable laws and regulations.

Article 3 (Display, Delivery, and Explanation of Terms)

1. The Company shall make these Terms and Conditions available to users through the Company’s website or application (hereinafter “App”) in a way that is easily accessible. If requested by the user, the Company shall provide a copy via electronic document (including email), fax, postal mail, or direct delivery.

2. If the user requests an explanation of the Terms, the Company shall provide a summary of the important provisions through one of the following methods:
1. Direct explanation to the user;
2. Display of the key terms through electronic devices in a manner that allows the user to understand them easily, and receiving confirmation from the user through the same device that they have acknowledged the content.

Article 4 (Amendment of Terms and Conditions)

1. When the Company amends these Terms, it shall post the changes on the Company’s website or App and notify users individually at least one (1) month prior to the effective date. If a user raises an objection, the Company shall confirm that proper notice of the changes has been given.

2. Notwithstanding Paragraph 1, in the event of urgent amendments due to changes in the law, the Company may post the revised Terms on its website or App for at least one (1) month and provide post-notification to users.

3. When providing the above notice, the Company shall inform users that: “You may terminate the agreement by the last business day prior to the effective date of the revised Terms, and if you do not raise any objections, you will be deemed to have agreed to the changes.”

4. Users may terminate the electronic financial transaction agreement by the last business day before the effective date of the revised Terms, and if they do not object, they will be deemed to have accepted the revised Terms.

Article 5 (Governing Rules Outside These Terms)

• If the Company and the User have individually agreed on matters that differ from those stipulated in these Terms and Conditions, such individual agreements shall prevail.

• Matters not defined in these Terms and Conditions (including definitions of terms) shall, unless otherwise agreed, be governed by the “Travel Pay Terms of Use,” the Electronic Financial Transactions Act, the Act on the Consumer Protection in Electronic Commerce, the Foreign Exchange Transactions Act, and other relevant laws and regulations.

Article 6 (User Identity Verification)

• To use the Partnered Services provided by the Company through the Paybook app of the Partner, the User must meet the identity verification requirements set forth below. Users who do not meet these requirements may be restricted from using all or part of the services.

• The User must possess a bank account under their real name that has been verified for real-name authentication and is capable of normal transactions (deposits and withdrawals). The User must pass account ownership verification using the method designated by the Company and consent to direct debit according to these Terms or related agreements.

• The User must own a mobile phone or tablet device that is registered in their name and capable of running the app. The User must apply using their real name and complete identity verification through an accredited institution or similar method.

• The Company may request additional information or verification methods beyond bank account authentication for the purpose of providing the service and identity verification. Users must comply with the Company’s designated verification methods.

Article 7 (Issuance of Prepaid Electronic Payment Instruments and Cards)

• The Company issues prepaid electronic payment instruments to domestic residents who are at least 17 years old, as well as to foreign residents in Korea who possess a foreign registration number, a mobile phone number under their name, and a bank account.

• To use the Partnered Services provided by the Company, the User must possess a card issued through the Partner.

• BC Paybook Foreign Currency Money issued by the Company is stored electronically on the card issued by the Partner. Users can use the card to pay for goods or services at merchants using BC Paybook Foreign Currency Money.

Article 8 (Validity Period)

• The validity period of prepaid electronic payment instruments issued by the Company is five (5) years (60 months) from the date of issuance.

• Unless the User separately requests a refund, the validity period and issuance date of the prepaid instrument will be automatically renewed upon expiration.

• Even after renewal, these Terms and Conditions shall continue to apply.

Article 9 (Top-up)

• When using the BC Paybook Foreign Currency Money service, Users may top up various 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) onto a single card issued through the Partner.

• The applicable exchange rate for foreign currency top-ups can be viewed in the [Top-up] screen within the Paybook app when selecting a currency.

• There is no limit to the number of top-ups. The minimum amount per top-up is equivalent to USD 1. The maximum amount that can be topped up per card, including the current balance, is KRW 2,000,000 based on the daily exchange rate, and additional top-ups beyond this limit are not allowed.

• Top-ups must be made by withdrawing funds from a KRW-denominated bank account registered under the User’s name in the Paybook app.

• No interest is paid on the balance stored on the card.

• The list of supported currencies may be changed or expanded.

• Currency-specific balances can be checked through the balance inquiry screen in the Paybook app.

Article 10 (Restrictions on Top-up and Payment)

• The issuance limits for prepaid electronic payment instruments are regulated under the Electronic Financial Transactions Act. To comply with relevant regulations such as the Electronic Financial Transactions Act and the Foreign Exchange Transactions Regulations, the Company may revise or limit the User’s top-up limit for BC Paybook Foreign Currency Money.

• The maximum annual amount that can be paid using BC Paybook Foreign Currency Money is USD 100,000 or its equivalent. This amount is based on the purchase amount and does not include refunds or canceled transactions.

• If the top-up exceeds the maximum allowed amount or if the card has been reported as lost or stolen, top-ups will be restricted.

Article 11 (Fees)

Article 12 (Verification of Transaction Details)

• The Company shall allow Users to check their transaction details (including information related to the User’s request for error correction and the result thereof) via the [Usage Guide] section in the Travel Wallet app. If the User requests a written copy of the transaction details, the Company shall provide it via fax, mail, or in person within two weeks from the date of request.

• If transaction details cannot be provided due to system failure or other causes, the Company shall immediately notify the User via electronic document transmission (including email). The period during which the transaction details could not be provided due to such failure shall not be included in the two-week delivery period.

• The following transaction details, which are subject to a five-year retention period under Paragraph 1, are:
1. Name or number of the transaction account
2. Type and amount of electronic financial transaction
3. Information identifying the counterparty of the transaction
4. Date and time of the electronic financial transaction
5. Type and identification information of the electronic device used
6. Fees charged by the Company for the transaction
7. Details regarding the User’s direct debit consent
8. Access logs of the electronic device related to the transaction
9. Application and condition changes for electronic financial transactions
10. Records of transactions exceeding KRW 10,000 per transaction

• The following details, which are subject to a one-year retention period under Paragraph 1, are:
1. Records of small transactions of KRW 10,000 or less
2. Records related to payment approvals using electronic payment instruments
3. Information on User error correction requests and the result of processing

• Users may request written transaction details by contacting:
• Email: support@travel-wallet.com
• Phone: 02-6949-4885

Article 13 (Checking BC Paybook Foreign Currency Money Balance and Transactions)

Article 14 (Provision of Personal Information)

1. The Company shall manage Users’ personal information obtained in connection with this agreement strictly in accordance with applicable laws.

2. The Company may provide Users’ information to relevant institutions for the following purposes: compliance with these Terms or applicable laws such as the Act on Reporting and Use of Certain Financial Transaction Information, prevention of fraud or misuse of cards, and crime monitoring.

Article 15 (Termination and Refunds)

• Users may request a refund of the remaining BC Paybook Foreign Currency Money balance on their card.

• The Company shall refund the balance in KRW, applying the refund exchange rate shown in the [Refund] screen of the Paybook app, and deducting the refund fee also displayed on the same screen.

• Notwithstanding Paragraphs 1 and 2, the Company shall refund the full remaining balance at the published refund exchange rate in the following cases:
1. The merchant is unable to provide goods or services due to force majeure (e.g., natural disaster), and the remaining balance cannot be used
2. Service malfunction or system failure prevents the use of the card or service
3. The User has used at least 60% of the purchase amount (or 80% for cards with less than KRW 10,000 balance)
4. The use conditions for the card have been changed or the number of merchants has been reduced to the User’s disadvantage (except in cases such as business closure, expiration of merchant contracts, or other legitimate reasons stipulated in the Enforcement Decree of the Electronic Financial Transactions Act)

• Refund requests may be withheld or rejected for the following reasons. However, refunds will be processed once the issue is resolved:
1. The User’s balance is less than the requested refund amount
2. The User’s balance is less than the applicable refund fee

• If a report of fraud or identity theft is submitted and the Company cannot reasonably determine the rightful refund recipient, the Company may take measures such as depositing the amount in court, in accordance with applicable laws.

• Any taxes or fees incurred in relation to refunds shall be borne by the User.

• If the remaining balance is less than the equivalent of USD 25, only a full refund is permitted. If the remaining balance is USD 25 or more, partial refunds are allowed.

• In the event of a refund involving reconversion (e.g., re-exchange), the KRW refund amount shall be calculated based on the exchange rate posted in the app at the time of the refund request. The refund exchange rate may differ from the rate at the time of top-up, and any resulting gain or loss shall be borne by the User.

Article 16 (Objections and Compensation Procedure)

• Users may raise objections, submit claims for compensation, or initiate dispute resolution regarding electronic financial transactions through the contact information listed in the Company’s website or mobile app. In the case of objections related to card payments, Users must file objections within 14 days of the payment date (for overseas use, within 45 to 90 days depending on the card network and transaction type), using written documents, the app, or the customer service center.
• Address: 5/6F, 542 Gangnam-daero, Gangnam-gu, Seoul (Youngpoong Building)
• Email: support@travel-wallet.com
• Phone: 02-6949-4885

• Users may submit objections or dispute resolution requests in writing (including electronic documents) or using electronic devices to the Company’s headquarters or branches. The Company shall respond within 15 days for domestic card transactions, providing the result of investigation or handling (including details such as reason for issuance, time, content, and user of the transaction). For overseas card transactions, the Company shall respond within 45–90 days, depending on the rules of the international card network.

• Users may also request dispute resolution through the Financial Dispute Mediation Committee of the Financial Supervisory Service, or the Consumer Dispute Mediation Committee of the Korea Consumer Agency.

• If it is determined through such dispute resolution procedures that the Company is liable for card issuance or usage, the Company shall bear all or part of the transaction amount. However, if the Company contests the result and files a civil lawsuit, the outcome of the lawsuit shall prevail.

• If it is determined that the User is at fault, a user-borne fee (e.g., investigation fee) may be charged. If the User contests the result and files a civil lawsuit, the court’s decision shall take precedence.

Article 17 (Liability of the Company)

1. Accidents that occur during the electronic transmission or processing of contract formation or transaction instructions

2. Accidents caused by the unauthorized use of a card that was fraudulently obtained through intrusion into an electronic device used for electronic financial transactions or a telecommunications network as defined in Article 2(1)(1) of the Act on Promotion of Information and Communications Network Utilization and Information Protection, etc.

Article 18 (Limitation of Liability of the Company)

1. If the User lent their card to a third party, delegated its use, or provided it for transfer or as collateral (excluding cases permitted under Article 18 of the Electronic Financial Transactions Act regarding the transfer or collateralization of prepaid payment instruments or electronic money)

2. If the User disclosed, exposed, or negligently handled their card despite knowing or being able to easily recognize that a third party could use the card without authorization

3. If the User unreasonably refuses to comply with additional security measures required by the Company during electronic financial transactions for enhanced security, and an incident under Article 20(3) occurs

4. If the User performs any of the following actions regarding media or information used for the additional security measures mentioned in Item 3, resulting in an incident under Article 20(3):
• Disclosing, exposing, or negligently handling the security media
• Lending to a third party, delegating its use, or providing it for transfer or as collateral

Article 19 (Notification of Changes)

• The User must promptly notify the Partner of any changes to the information provided in the application, such as English name, English address, telephone number, mobile phone number, or email address.

• If the User fails to notify such changes as stipulated in Paragraph 1 and the Company, without fault, is unaware of the updated contact information, the User shall be responsible for any damages arising from delayed or undelivered notices or documents. In such cases, it shall be deemed that the notice was delivered at the time it would normally have arrived, and the legal effect shall be considered to have occurred accordingly. The Company may also notify the User of important information via announcements within the Paybook app through the Partner.

Article 20 (Liability for Damages)

Article 21 (Assignment to Third Parties)

• The Company may request a third party to handle tasks necessary for the provision of services to Users in connection with the Card in accordance with this Agreement.

• Users may not assign their rights under this Agreement to a third party.

Article 22 (Governing Law and Jurisdiction)

• This Agreement and any disputes arising hereunder shall be governed solely by the laws of the Republic of Korea, and the Company and the User shall faithfully consult with each other to resolve any disputes related to the use of the Service.

• Notwithstanding the foregoing paragraph, if a dispute between the Company and the User is not resolved, such dispute shall be resolved in accordance with the judgment of a court of competent jurisdiction as prescribed by the Civil Procedure Act.

Article 23 (Withdrawal of Transaction Instructions)

Article 24 (Extinctive Prescription)

• The statute of limitations for the prepaid electronic payment instrument issued by the Company is five years (60 months) from the date of issuance.

• Users may use the BC Paybook Foreign Currency Money only within the statute of limitations prescribed by the Company.

Article 25 (Protection and Payment of Prepaid Charges)

• The Company shall separately manage at least 100 percent of the amount of the User’s prepaid charges through a prepaid charge management institution such as a bank by using one of the following methods:
1. Trust
2. Escrow
3. Payment guarantee insurance designating the User as the insured

• The prepaid charges separately managed by the Company pursuant to Paragraph 1 are the property of the User, and a User with a claim to the prepaid charges shall have the right to be repaid with priority over other creditors from the assets separately managed as prepaid charges.

• If any of the following events occurs, the Company shall immediately notify the prepaid charge management institution of such fact and, upon the User’s request, pay the prepaid charges to the User via the prepaid charge management institution with priority. In such case, the Company shall consult with the prepaid charge management institution and publicly announce the grounds for payment of the prepaid charges, the payment date, the payment method, and other matters related to the payment of the prepaid charges in two or more daily newspapers and on the Company’s internet website (including locations opened by the Company in virtual space via applications or similar programs used on mobile devices) within one month from the date on which the relevant event occurred.
1. The Company’s license or registration is revoked or cancelled
2. A resolution for dissolution is made
3. The Company is declared bankrupt
4. An order to suspend all business related to the issuance and management of prepaid electronic payment instruments is issued
5. Any other events equivalent to those listed in items 1 through 4

• If a User intends to request payment of separately managed prepaid charges in accordance with Paragraph 3, the User shall submit a written document to the prepaid charge management institution stating the following:
1. Information identifying the User or the prepaid electronic payment instrument
2. Information about the account to which the prepaid charges are to be paid

• When the Company is obligated to pay prepaid charges to the User pursuant to Paragraph 3, it may provide the following information about the User to the prepaid charge management institution:
1. User identification information
2. Information regarding the prepaid charges payable to the User
3. Identification information of the prepaid electronic payment instrument (In cases where the User cannot be identified, such as when real-name verification under Article 2, Subparagraph 4 of the Act on Real Name Financial Transactions and Guarantee of Secrecy is not possible)
4. Any other information necessary for the payment of prepaid charges

Article 26 (Notice and Posting of Prepaid Funds Protection Measures)

• When entering into a contract with a User concerning a prepaid electronic payment instrument, the Company shall notify the User of the following matters related to the protection measures for prepaid funds:
1. The method of separate management of the prepaid funds
2. Information about the prepaid funds management institution, including its name
3. Matters related to the procedures for payment of prepaid funds, such as reasons for payment under Article 29(3) and the User’s method of claim

• The Company shall always post the contents of the prepaid funds protection measures under Paragraph 1 of this Article on its internet homepage and shall immediately update the posted notice if there is any change in the details of the notice.

Article 27 (Company’s Code of Conduct)

1. Granting economic benefits to Users, such as discounted issuance or rewards of prepaid electronic payment instruments, by a party that does not meet the financial soundness standards determined and announced by the Financial Services Commission, taking into account the financial soundness standards under the Electronic Financial Transactions Act and its Enforcement Decree

2. Granting economic benefits without separately managing an amount equal to or exceeding 100% of the User’s prepaid funds in accordance with Article 29(1)

3. Reducing the number of affiliated merchants where prepaid electronic payment instruments can be used, or changing the terms of use of such instruments to the User’s disadvantage, without notifying the User at least seven days prior to the intended date of change

4. Any other act prescribed by the Enforcement Decree of the Electronic Financial Transactions Act that may harm User protection or disrupt the soundness of transaction order

Article 28 (Consent and Withdrawal of Direct Debit Transfer)

• When giving consent for a direct debit transfer, the User shall provide such consent by means of an electronic document, in the form and requirements provided by the Company.

• The Company shall provide a method of electronic consent that complies with the requirements prescribed in the Electronic Financial Supervisory Regulations, and shall submit the consent items received from the User to the Korea Financial Telecommunications & Clearings Institute and the relevant financial institution to execute the direct debit transfer.

• The User may request withdrawal of the consent under the preceding paragraph from the Company until a debit entry has been made in the ledger of the User’s account pursuant to the Company’s transaction instruction. The User may withdraw consent for the direct debit transfer by deleting the registered account from the Company via the service interface. However, the User may not object to debit transactions that occurred prior to the expression of such withdrawal.