1.0

Terms of Use for Travel Wallet Electronic Payment Gateway Services

Article 1 (Purpose)

The purpose of these Terms of Use is to define the basic matters related to the electronic payment gateway and related services provided by Travel Wallet Co., Ltd. (hereinafter referred to as the “Company”), and to clearly define the rights and obligations between the users and the Company.

Article 2 (Definitions)

① The definitions of terms used in these Terms of Use are as follows:
  1. “Electronic Financial Transaction” refers to a transaction in which the Company provides electronic payment gateway and related electronic financial transaction services (hereinafter collectively referred to as the “Services”) through electronic devices, and the user utilizes them in an automated manner without directly facing or communicating with the Company’s staff.
  1. “Electronic Payment Gateway Service” refers to a service that transmits or receives payment information electronically or intermediates or processes the settlement of such payment for the purchase of goods or use of services.
  1. “Electronic Device” refers to a device used to transmit or process electronic financial transaction information electronically, including ATMs, CD/ATM machines, point-of-sale terminals, computers, telephones, and other devices that transmit or process information by electronic means.
  1. “User” refers to a person who agrees to these Terms of Use and uses the electronic payment gateway service and related services provided by the Company.
  1. “Password” refers to a combination of numbers and characters set by the user and approved by the Company to identify the user and protect the user’s information.
  1. “Authentication Medium” refers to a means or information used in an electronic financial transaction to give transaction instructions or to ensure the authenticity and accuracy of the user and transaction details, including electronic cards or equivalent electronic information, electronic signature creation information and certificates under the Electronic Signature Act, registered user numbers, biometric information of the user, and passwords required to use such means or information, as defined in Article 2(10) of the Electronic Financial Transactions Act.
  1. “Transaction Instruction” refers to the instruction by the user to the Company to process an electronic financial transaction in accordance with the electronic financial transaction agreement.
  1. “Fund Transfer on Demand” refers to the act of transferring funds from the payer’s account to the payee’s account in accordance with the payer’s instruction via an electronic device.
  1. “Error” refers to a case where an electronic financial transaction is not executed according to the electronic financial transaction agreement or the user’s transaction instruction due to no intention or negligence of the user.
  1. “Settlement” refers to the act in which the Company receives payment from the payment institution for transactions conducted through the electronic payment gateway service and pays the user the remaining amount after deducting agreed fees.
  1. “Merchant” refers to any of the following:
      2. a. A person who provides goods or services to users in transactions via electronic payment means under a contract with the Company.
      b. A person who intermediates transactions via electronic payment means on behalf of a person who provides goods or services to users under a contract with the Company, as defined in the Enforcement Decree of the Electronic Financial Transactions Act.
② Definitions of terms not specified in this Article or other provisions of these Terms of Use shall follow those provided in the “Standard Terms and Conditions for Electronic Financial Transactions,” the “Electronic Financial Transactions Act,” the “Act on the Consumer Protection in Electronic Commerce, etc.,” and other applicable laws and regulations.

Article 3 (Presentation, Delivery, and Explanation of the Terms)

① The Company shall make these Terms of Use easily accessible to users by posting them on the website or application (hereinafter referred to as the “App”) operated by the Company. Upon request by the user, the Company shall deliver a copy of the Terms of Use to the user via electronic document transmission (including by email), facsimile, mail, or direct delivery.
② If the user requests an explanation of the contents of the Terms of Use, the Company shall explain the important contents of the Terms in one of the following ways:
  1. By directly explaining the important contents to the user.
  1. By displaying the important contents via electronic means in a manner easily understood by the user and receiving confirmation from the user via electronic means that they have sufficiently understood the contents.

Article 4 (Amendment of the Terms and Conditions)

① When the Company amends these Terms, it shall post the details of the amended Terms on the Company’s website or application (app) and provide individual notification to users at least one (1) month prior to the effective date of the amended Terms. However, if a user raises an objection, the Company must verify that it has properly notified the user of the changes to the Terms in an appropriate manner.
② Notwithstanding Paragraph 1, in cases where the Terms must be amended urgently due to changes in applicable laws or regulations, the amended Terms shall be posted on the Company’s website or app for at least one (1) month, and users shall be notified thereafter.
③ When the Company posts or notifies the changes pursuant to Paragraphs 1 and 2, it shall include the following content: “Users may terminate the contract for electronic financial transactions before the business day immediately preceding the effective date of the amended Terms. If a user does not raise any objection to the amendments, the user shall be deemed to have agreed to the amended Terms.”
④ Users may terminate the electronic financial transaction contract before the business day immediately preceding the effective date of the amended Terms after the changes have been posted or notified. If the user does not raise any objection to the amended Terms, the user shall be deemed to have accepted the changes.

Article 5 (Matters Not Specified in the Terms)

① If there is an individual agreement between the Company and the user that differs from the provisions of these Terms, the individual agreement shall take precedence.
② The Company may establish separate terms of use and policies (hereinafter “Individual Terms”) for each specific service. For matters related to electronic financial transactions not specified in these Terms, the provisions of the relevant Individual Terms shall apply.
③ For matters (including definitions of terms) not specified in these Terms or the Individual Terms, unless otherwise agreed, the provisions of the “Standard Terms and Conditions for Electronic Financial Transactions,” the “Electronic Financial Transactions Act,” the “Act on the Consumer Protection in Electronic Commerce, etc.,” the “Foreign Exchange Transactions Act,” and other relevant laws and regulations shall apply.

Article 6 (Composition and Details of the Electronic Payment Gateway Services)

① The electronic payment gateway services provided by the Company consist of the services listed below. If necessary, detailed information on each service may be specified in these Terms or in the Individual Terms:
  1. Corporate Remittance (Agency) Service: A real-time remittance service that allows corporate customers (users) to transfer funds from their own accounts to the accounts of designated recipients through the Company’s system.
② When the Company adds or changes an electronic payment gateway service, it may do so after notifying users in advance of the details and the effective date of such addition or change.

Article 7 (Service Hours)

① The Company shall, in principle, provide the electronic payment gateway services to users 24 hours a day, 365 days a year. However, service availability may vary depending on the circumstances of financial institutions or payment instrument issuers.
② If the Company intends to change the service hours, it shall notify users by means of an electronic device that is easily accessible to them for a period of one (1) month prior to the change. However, in cases of unavoidable circumstances such as system recovery, urgent maintenance, or external factors, this may be exempted, and the Company shall inform users of such circumstances as soon as possible.

Article 8 (Fees)

① The Company may withdraw electronic financial fees from the user’s account or receive them directly in cash from the user. The method of collection shall be governed by the relevant individual terms.
② The Company shall post the applicable fees (rates) via an electronic device that is easily accessible by the user, and in the event of any changes to the fees (rates), Article 4 (Amendment of the Terms and Conditions) shall apply accordingly.

Article 9 (Effect of the Electronic Payment Gateway Contract)

① If the user issues a transaction instruction related to electronic payment gateway services, the Company shall act as a proxy in the payment process and transmit the transaction instruction to enable payment to be made.
② If payment is not executed pursuant to the user’s transaction instruction for electronic payment gateway services, the Company must return the received funds to the user.

Article 10 (Issuance and Management of Access Media)

① The Company shall issue access media only upon request from the user and after verifying the identity of the user.
② When providing services, the Company shall select appropriate access media to verify the user’s identity, authority, and transaction instructions.
③ Users shall not engage in the following acts with respect to access media, unless otherwise provided by applicable law:
  1. Transferring or acquiring access media
  1. Lending access media to a third party or delegating its use
  1. Pledging access media or providing it as collateral
  1. Facilitating any of the acts described in items 1 to 3
④ Users shall not disclose, expose, or negligently handle their access media to third parties and shall exercise due care to prevent theft, forgery, or alteration of the access media.
⑤ When the Company is notified by the user of the loss or theft of the access media, the Company shall be liable for any damages incurred by the user due to unauthorized use of the access media by a third party from the time of such notification.

Article 11 (Confirmation of Transaction Details)

① The Company shall make it possible for users to confirm their transaction details (including details regarding any request for error correction and the result of such processing) via the Company’s website or app. If the user requests a written copy of the transaction details, the Company shall provide it via electronic document (including email), fax, postal mail, or direct delivery within two (2) weeks of the request.
② If transaction details cannot be provided due to electronic device malfunction or other reasons, the Company shall immediately notify the user of such circumstances via electronic means (including email). The period during which transaction details cannot be provided due to such issues shall not be counted in the written delivery period.
③ Transaction details subject to a five-year retention period under Paragraph 1 include the following:
  1. Name or number of the transaction account
  1. Type and amount of the electronic financial transaction
  1. Information identifying the counterparty to the transaction
  1. Date and time of the electronic financial transaction
  1. Type of electronic device and identifiable information of such device
  1. Fees received by the Company for the electronic financial transaction
  1. User’s agreement to the withdrawal
  1. Access logs related to the relevant electronic device for the transaction
  1. Information on application and changes to transaction conditions
  1. Records of electronic financial transactions exceeding KRW 10,000 per transaction
④ Transaction details subject to a one-year retention period under Paragraph 1 include the following:
  1. Records of small electronic financial transactions not exceeding KRW 10,000 per transaction
  1. Records of approval related to the use of electronic payment instruments
  1. Details and outcomes of user error correction requests
⑤ If the user wishes to request a written copy as stipulated in Paragraph 1, such request may be made to the following address and contact information:
  • Address: 5th/6th Floor, 542 Gangnam-daero, Gangnam-gu, Seoul (Yeongpung Building, Nonhyeon-dong)
  • Phone: +82-2-6949-4885

Article 12 (Correction of Errors, etc.)

① If a user becomes aware of an error in using the Company’s electronic payment gateway services, the user may request a correction from the Company.
② Upon receiving a correction request under the preceding paragraph or becoming aware of an error on its own, the Company shall promptly investigate and handle the issue, and notify the user of the cause of the error and the result of the processing via document, phone, or email within two (2) weeks from the date the request was received or the error was identified.

Article 13 (Company’s Liability)

① The Company shall be liable to compensate the user for any damages arising from any of the following incidents:
  1. Incidents caused by forgery or alteration of access media
  1. Incidents occurring during the electronic transmission or processing of contract formation or transaction instructions
  1. Incidents resulting from the use of access media that was fraudulently obtained by unauthorized access to electronic devices used for electronic financial transactions or information and communications networks pursuant to Article 2(1)1 of the Act on Promotion of Information and Communications Network Utilization and Information Protection, etc.
② In the event of monetary damage pursuant to Paragraph ① or Article 10(5), the Company shall compensate the user for the amount of damage and any accrued interest calculated at the pre-agreed rate. However, if the actual damages exceed the calculated amount, the actual damages shall be compensated.
③ Notwithstanding Paragraph ①, the Company shall not be wholly or partially liable for damages to the user if it can prove that the user acted willfully or with gross negligence in any of the following:
  1. The user lent, delegated, transferred, or used the access media as collateral to a third party
  1. The user disclosed, exposed, or negligently left access media despite knowing or having reason to know that a third party could misuse it
  1. The user refused additional security measures required by the Company for electronic financial transactions without just cause, resulting in incidents described in Paragraph ①(3)
  1. The user disclosed, exposed, negligently handled, lent, delegated, transferred, or used as collateral any medium, means, or information used in such additional security measures, causing an incident as described in Paragraph ①(3)
  1. The user is a corporation (excluding small businesses as defined under Article 2(2) of the Framework Act on Small and Medium Enterprises), and the Company took all reasonably required precautions including establishment and strict implementation of security procedures
④ The Company may temporarily suspend the provision of electronic financial transaction services for maintenance, inspection, or replacement of its information and communication equipment. In such cases, the Company shall notify users in advance of the schedule and reason for suspension via its website.

Article 14 (Restriction of Transactions)

① The Company may restrict transactions based on a transaction instruction for electronic payment gateway services under any of the following circumstances:
  1. The user fails to utilize additional security measures provided by the Company beyond identification via access media
  1. Legal restrictions such as seizure, provisional seizure, or injunctions, or violations of the Electronic Financial Transactions Act or other relevant laws
  1. The user breaches any obligations under Article 10(3) or Article 13(3)
  1. There is reasonable suspicion of unauthorized use, fraud, or illegal use of the transaction by a third party
  1. The user interferes with or is highly likely to interfere with the Company’s system by hacking, introducing viruses or illegal software, using automated means (scripts, agents, crawling, etc.) without Company consent, or similar fraudulent methods
② The Company may restrict all account transfers through electronic devices under any of the following circumstances:
  1. The certificate issued by the Company has expired or been revoked
  1. The user has not used electronic financial transactions for more than 12 months
③ If the Company restricts electronic financial transactions pursuant to Paragraphs ① or ②, it shall notify the user of the reason through the relevant electronic device at the time of the transaction instruction.
④ In the case of Paragraph ②, users may resume electronic financial transactions by following the Company’s procedures for reissuance or extension of the certificate or confirming continued intent to use the service.

Article 15 (Consent and Withdrawal of Consent for Withdrawal Transfer)

① When the user gives consent for a withdrawal transfer (push payment), such consent shall be provided via electronic documents as per the method and requirements offered by the Company.
② The Company shall offer a method of electronic consent that meets the requirements stipulated in the Regulations on Supervision of Electronic Financial Transactions and submit the user’s consent information to the Korea Financial Telecommunications and Clearings Institute and the relevant financial institutions.
③ Users may withdraw their consent under Paragraph ① before a withdrawal record is entered in the ledger of the payer’s account pursuant to the Company’s transaction instruction. Consent may be withdrawn by deleting the registered account through the service screen. However, users may not raise objections to withdrawals made before the expression of withdrawal intent.

Article 16 (Withdrawal of Transaction Instructions)

① Users may withdraw a transaction instruction given via the Company’s electronic payment gateway service before the payment becomes effective, by sending an electronic document (including email) to the contact listed in Article 11(5), or by using the cancellation function within the service page.
② The time when the payment becomes effective under Paragraph ① is when the funds for the transaction are recorded in the ledger of the account held by the financial institution or electronic financial business operator where the recipient’s account is maintained.
③ After the payment becomes effective, the user may request a refund of the payment according to the method of withdrawal of offer under the Act on the Consumer Protection in Electronic Commerce and other related laws.

Article 17 (Retention of Transaction Records)

① The Company shall generate and retain records of electronic financial transactions used by the user in order to trace or retrieve transaction details or to verify or correct any errors therein.
② The types and retention periods of records to be retained by the Company pursuant to Paragraph ① shall be in accordance with the provisions of Article 11 Paragraphs 3 and 4.

Article 18 (Prohibition on Provision of Transaction Information)

① The Company shall not, without legal grounds or the user’s consent, provide or disclose to a third party or use for purposes other than business, any information or data obtained in the course of providing electronic payment gateway services, including the user’s personal details, account information, access media, details or performance of electronic financial transactions.
② The Company shall operate a personal information processing policy to ensure that users can safely use the electronic payment gateway service. The Company’s privacy policy can be found via the linked page on the Company’s website or application.

Article 19 (Company’s Obligation to Ensure Security)

The Company shall exercise due care as a good manager to ensure the safe processing of electronic financial transactions and shall comply with the standards set by the Financial Services Commission regarding information technology such as personnel, facilities, and electronic devices, and matters related to electronic financial operations, so as to ensure the safety and reliability of each type of electronic financial transaction.

Article 20 (Dispute Resolution and Mediation)

① The user may raise opinions, complaints, or claims for damages related to electronic financial transactions through the dispute resolution officer or department listed on the Company’s website or app, or via the contact details below:
  • Responsible Department: CS Team and Dispute Resolution Team, Management Division
  • Address: 5th/6th Floor, 542 Gangnam-daero, Gangnam-gu, Seoul (Yeongpung Building, Nonhyeon-dong)
  • Phone: 02-6949-4885
② The user may file a dispute resolution request in writing (including electronic documents) or via an electronic device with the Company’s head office or branch. The Company shall investigate and notify the user of the result within 15 days.
③ If the user objects to the Company’s handling of an electronic financial transaction, they may request mediation through the Financial Dispute Mediation Committee of the Financial Supervisory Service or the Consumer Dispute Resolution Committee of the Korea Consumer Agency.

Article 21 (Jurisdiction)

Jurisdiction over disputes arising between the Company and the user shall be determined in accordance with the Civil Procedure Act.
Terms of Service Version: Ver 1.0
Date of Announcement and Enforcement: January 20, 2025
1.0
1.0