Terms and Conditions for Electronic Financial Transactions
Chapter 1 General Provisions
Article 1 (Purpose)
These terms and conditions are intended to establish basic matters related to electronic financial transactions between T-money Co., Ltd. (hereinafter referred to as "the Company") and users, thereby promoting the quick and efficient processing of transactions and reasonably adjusting the mutual interests of the parties involved in the transaction.
Article 2 (Definitions of Terms)
1. "Electronic financial transaction" refers to a transaction in which a user directly uses financial products and services provided by the Company through an electronic device in a non-face-to-face and automated manner through an electronic device.
2. "User" refers to a customer who has entered into an electronic financial transaction contract with the Company for any of the following purposes and uses electronic financial transactions.
a. Entering into an electronic financial transaction contract through these terms and conditions
b. Entering into an electronic financial transaction contract through these terms and conditions and any individual terms and conditions
c. Entering into an electronic financial transaction contract through an individual contract that is not in the form of the terms and conditions set forth in a or b above.
3. "Electronic financial service auxiliary" refers to a person who assists or acts on behalf of the Company in electronic financial transactions, or a person who operates a payment mediation system and falls under any of the following categories.
a. A business operator that operates an information processing system related to the Company's electronic financial business
b. A business operator that has entered into an affiliation, consignment, or external order contract with the business operator of a and operates an information processing system
4. "Electronic payment transaction" refers to an electronic financial transaction in which a user instructs the Company to transfer funds from the user's electronic payment instrument to another user's electronic payment instrument.
5. "Electronic payment instrument" refers to a means of payment that uses electronic methods, such as electronic fund transfer, debit electronic payment instrument, prepaid electronic payment instrument, electronic money, credit card, and electronic bond.
6. "Electronic device" refers to a device used to transmit or process electronic financial transaction information, such as an ATM, CD/ATM, payment terminal, computer, telephone, etc.
7. “Access means” refers to any of the following means or information used in electronic financial transactions to make transaction instructions or to ensure the authenticity of the user and the transaction contents.
a. Electronic cards and similar electronic information provided by the Company
b. Electronic signature creation information or certificate in accordance with the "Electronic Signature Act"
c. User ID registered with the Company
d. User's biometric information registered
e. Password required to use the means or information of a or b above.
8. "Electronic document" refers to information created, transmitted, received, or stored in accordance with Article 2(1) of the "Basic Act on Electronic Documents and Electronic Transactions."
9."Prepaid electronic payment instrument" refers to a voucher or information about a voucher, such as T-money issued by the Company, in which monetary value is stored electronically and issued, and is used to pay for goods or services purchased from a third party other than the issuer in accordance with the Electronic Financial Transactions Act. The prepaid electronic payment instruments issued by our company are as follows.
a. Prepaid electronic payment instruments that are issued without real name verification or linked to a bank account, and users can first pay the price and use the monetary value stored electronically in the prepaid electronic payment instrument for transactions at merchants (hereinafter referred to as "anonymous prepaid electronic payment instruments").
b. Prepaid electronic payment instruments that are issued after real name verification or linked to a bank account, and users can first pay the price and use the monetary value stored electronically in the prepaid electronic payment instrument for transactions at merchants (hereinafter referred to as "named prepaid electronic payment instruments").
10. "Transaction instruction" refers to an instruction by the user to the Company to process an individual electronic financial transaction in accordance with the electronic financial transaction contract.
11. "Error" refers to a case where an electronic financial transaction is not performed in accordance with these terms and conditions, individual terms and conditions, individual contracts, or as instructed by the user, without the user's intent or negligence.
12. "Electronic payment settlement agency" refers to a business that transmits or receives payment information or acts as an agent or intermediary for the settlement of the price in the purchase of goods or the use of services by electronic means.
13."Business day" refers to a day on which the Company normally conducts business.
14. "Merchant" refers to the following.
a. A person who provides goods or services to users in transactions using prepaid electronic payment instruments in accordance with a merchant agreement with the Company, and who is not the Company.
b. A person who provides goods or services to users in transactions using credit cards, etc. in accordance with a merchant agreement with the Company, and who is not the Company.
- Terms not separately defined in these Terms and Conditions shall be governed by the Electronic Financial Transactions Act and other relevant laws and regulations.
Article 3 [Clear Changes and Explanations of Terms and Conditions]
1. The Company shall post these Terms and Conditions on the Company's website (pay.tmoney.co.kr) and each service's mobile application, etc. (hereinafter referred to as "Internet Website, etc.") so that users can check the important contents of these Terms and Conditions before making electronic financial transactions.
2. Upon request from the user, the Company shall provide a copy of these Terms and Conditions to the user by means of electronic document transmission (including transmission by e-mail), facsimile transmission, mail, or direct delivery.
3. If the electronic device provides electronic financial transaction services, the Company shall explain the important contents of the Terms and Conditions in an easy-to-understand manner to the user through the electronic device and receive an expression of intent from the user through the electronic device that the user has sufficiently acknowledged the contents.
4. When the Company changes these Terms and Conditions, it shall post the changed Terms and Conditions on the Internet Website, etc. one month before the effective date and notify the users. However, if the Terms and Conditions are changed urgently due to a revision of laws and regulations, the Company shall post the changed Terms and Conditions on the Internet Website, etc. for more than one month and notify the users by e-mail, etc. afterwards.
5. When the Company makes a notification or announcement under Paragraph 3, it shall also notify or announce the following: "If the user does not agree to the change, the user may terminate the contract within 30 days from the date of receiving the notification or announcement. If the user does not express an intention to terminate the contract, the user shall be deemed to have agreed to the changed Terms and Conditions."
6. If the user does not express an intention to terminate the contract within 30 days from the date of receiving the notification or announcement under Paragraph 4, the user shall be deemed to have agreed to the change.
Article 4 [Composition and Contents of Electronic Financial Transaction Services]
1. The electronic financial transaction services provided by the Company are as follows:
- Electronic payment settlement agency service: Credit card, gift certificate, and prepaid electronic payment settlement agency service
- Issuance and management service of prepaid electronic payment instruments
2. The Company may add or change services as necessary, with prior notice to users.
Article 5 [Service Hours]
1. The Company shall provide electronic financial transaction services to users 24 hours a day, 365 days a year, in principle. However, this may be different depending on the circumstances of financial institutions and other payment instrument issuers.
2. In the event that a service interruption is unavoidable due to maintenance, inspection, or other technical reasons of the information and communication facilities, or due to the circumstances of financial institutions and other payment instrument issuers, the Company may interrupt the service temporarily after posting the fact of the service interruption through available electronic means three days before the service interruption. However, in unavoidable cases such as system failure recovery, emergency program maintenance, or external factors, the service may be interrupted without prior notice.
Article 6 [Management of Access Means]
1. When providing electronic financial transaction services, the Company shall verify the user's identity, authority, and contents of transaction instructions, depending on the access means.
2. Unless otherwise provided by law, the user shall not perform the following acts when using the access means:
- Lending or renting the access means while receiving or demanding payment, or storing, transferring, or distributing the access means.
- Lending or renting the access means, or storing, transferring, or distributing the access means, for the purpose of using it for crime or knowing that it will be used for crime.
- Using the access means as collateral or other security.
- Soliciting the acts of Subparagraphs 1 through 4.
3. The user shall not leak, expose, or neglect his or her access means to a third party, and shall exercise sufficient care to prevent theft, forgery, or alteration of the access means.
Article 7 [Confirmation of Transaction Contents]
1. The Company shall enable each user to check the transaction contents (including the user's 'request for error correction and processing results') through the transaction contents inquiry screen of the Internet website, etc., and upon request from the user, the Company shall provide a written document on the transaction contents within two weeks from the date of the request, in the manner requested by the user, among facsimile transmission, mail, e-mail, or direct delivery.
2. If the Company receives a request from the user to provide a written document on the transaction contents under Paragraph 1, and is unable to provide the transaction contents due to a malfunction of the electronic device or other reasons, the Company shall immediately notify the user of such reason, and the period during which the transaction contents cannot be provided due to a malfunction of the system, etc. shall not be included in the period for providing the written document on the transaction contents under Paragraph 1.
3. If the user wishes to request the written delivery provided for in Paragraph 1, he or she may request it at the following address and telephone number.
- Address: Transaction History Inquiry Manager, T-money Co., Ltd., 10th Floor, Seoul City Tower, 110 Huam-ro, Jung-gu, Seoul, Republic of Korea
- Contact: 02-1644-0088
- E-mail: cs@tmoney.co.kr
Article 8 [Correction of Errors, etc.]
1. If a user finds an error in an electronic financial transaction, the user may immediately request a correction from the Company. In this case, the Company shall immediately investigate and process the request, and notify the user of the cause of the error and the result of the processing within two weeks from the date of receiving the correction request.
2. If the Company finds an error in an electronic financial transaction on its own, it shall immediately investigate and process the error, and notify the user of the cause of the error and the result of the processing within two weeks from the date of finding the error.
Article 9 [Generation and Preservation of Electronic Financial Transaction Records]
1. The Company shall generate and preserve records that allow the user to track, search, and verify or correct errors in the contents of electronic financial transactions that the user has used.
2. The following items of electronic financial transaction contents shall be preserved for a period of five years:
- Name or number of the transaction account
- Type and amount of electronic financial transaction
- Information identifying the counterparty of the electronic financial transaction
- Date and time of electronic financial transaction
- Type of electronic device and information identifying the electronic device
- Fee received by the Company for the electronic financial transaction
- Matters regarding the user's consent to withdrawal
- Access log of the electronic device related to the electronic financial transaction
- Matters regarding application and change of conditions of electronic financial transaction
- Records of electronic financial transactions with a transaction amount exceeding 10,000 won
3. The following items of electronic financial transaction contents shall be preserved for a period of one year:
- Records of small electronic financial transactions with a transaction amount of 10,000 won or less
- Records of approvals related to the use of electronic payment instruments
- Matters regarding the user's request for correction of errors and the result of processing
Article 10 [Effective Date of Payment and Withdrawal of Transaction Instructions]
1. When a user makes a payment using an electronic payment instrument, the payment takes effect at the following times:
- In the case of payment by prepaid electronic payment instrument: When the information on the amount of the transaction instruction reaches the electronic device designated by the recipient.
- In the case of withdrawing cash directly from an electronic device: When the user who requested the withdrawal receives the cash.
- In the case of payment by other electronic payment instruments: When the information on the amount of the transaction instruction is entered into the electronic device of the financial institution where the recipient's account is opened.
2. The user may withdraw the transaction instruction by sending an electronic document (including transmission by e-mail) to the person in charge specified in Paragraph 3 of Article 7 in accordance with this Agreement before the payment takes effect.
3. Notwithstanding Paragraph 2, the Company may restrict the user's withdrawal of transaction instructions in cases where the nature of the electronic financial transaction, such as real-time transactions using prepaid electronic payment instruments, makes it impossible for the Company to immediately confirm whether the transaction has been completed.
4. The death, declaration of incapacity for adulthood, or declaration of quasi-incapacity of the user, or the dissolution, merger, or bankruptcy of the user or the Company does not in itself constitute a withdrawal or change of the transaction instruction and does not affect the Company's rights.
5. If a payment transaction is not made due to the user's withdrawal of the transaction instruction, the Company shall return the received funds to the user.
6. In the event that the electronic payment takes effect, the user may refund the payment amount in accordance with the method of withdrawal of subscription, etc. in the "Act on Consumer Protection in Electronic Commerce, etc." and other relevant laws and regulations.
Article 11 [Prohibition on Providing Electronic Financial Transaction Information]
The Company shall not provide, disclose, or use for purposes other than business purposes, the personal information, account information, access means, and information or data on the contents and performance of electronic financial transactions obtained from the user for the purpose of providing electronic financial transaction services, without the consent of the user or as required by law.
Article 12 [Company's Liability]
1. The Company shall be liable for damages incurred by the user due to any of the following accidents:
- Accidents caused by forgery or alteration of access means.
- Accidents caused in the process of electronic transmission or processing of contract conclusion or transaction instructions.
- Accidents caused by the use of access means obtained by falsely or fraudulently entering an electronic device for electronic financial transactions or an information and communication network as defined in Article 2(1)1 of the "Act on the Promotion of Information and Communication Network Use and Information Protection".
2. Notwithstanding Paragraph 1, if the Company proves that the user intentionally or with gross negligence committed any of the following acts, the Company may require the user to bear all or part of the damages incurred by the user:
- If the user lends, entrusts, transfers, or provides the access means to a third party for collateral purposes.
- If the user leaks, exposes, or neglects his or her access means, even though he or she knew or could have easily known that a third party could use the access means without authorization to conduct electronic financial transactions.
- In the case of a user who is a corporation (excluding small businesses as defined in Article 2(2) of the "Small and Medium Business Basic Act") and the Company has fulfilled its reasonable duty of care by establishing security procedures and thoroughly complying with them to prevent accidents.
- If the user unreasonably refuses additional security measures required by the Company for electronic financial transactions in addition to the verification required under Article 6(1) of the "Electronic Financial Transactions Act", and an accident occurs under Article 9(1)3 of the "Electronic Financial Transactions Act".
- If the user commits any of the following acts with respect to the medium, means, or information used for the additional security measures under Subparagraph 4, and an accident occurs under Article 9(1)3 of the "Electronic Financial Transactions Act":
(a) Leaking, exposing, or neglecting.
(b) Lending to a third party, entrusting its use, or providing it for the purpose of transfer or collateral.
3. Notwithstanding Paragraphs 1 and 2, if there are provisions in other laws that can be applied favorably to the user, the Company shall apply such laws first.
Article 13 [Dispute Resolution and Mediation]
1. The user may request the resolution of disputes, including claims for damages, by submitting opinions and complaints related to electronic financial transactions to the dispute resolution officer posted on the Company's website.
2. When a user requests the Company to resolve a dispute, the Company shall notify the user of the results of its investigation or processing within 15 days.
3. If the user disagrees with the Company's dispute resolution result, the user may apply for mediation of the dispute related to the use of the Company's electronic financial transaction service to the Financial Dispute Mediation Committee of the Financial Supervisory Service under Article 51 of the "Act on the Establishment of the Financial Services Commission, etc." or to the Consumer Dispute Mediation Committee of the Korea Consumer Agency under Article 60(1) of the "Consumer Basic Act".
Article 14 [Company's Obligation to Ensure Stability]
The Company shall comply with the standards set by the Financial Services Commission for the information technology sector and electronic financial business in order to ensure the safety and reliability of electronic financial transactions, such as personnel, facilities, and electronic devices for electronic transmission or processing for each type of electronic financial transaction.
Article 15 [Status of Electronic Financial Auxiliary Business Operators]
In relation to electronic financial transactions, the intent or negligence of electronic financial auxiliary business operators, etc. shall be considered as the intent or negligence of the Company.
Article 16 [Compliance Matters]
In order to ensure the safe execution of electronic financial transactions, the user shall comply with the following items in accordance with the Company's regulations:
- Necessary measures and management methods to prevent electronic intrusion such as password leakage and hacking.
- Procedures and methods provided by the Company for user protection.
Article 17 [Recording of Transaction Contents]
1. The Company may record the contents of transactions made by telephone conversation with employees in order to ensure the accuracy of the transactions.
2. The recorded contents may be used as evidence only in the event of a dispute concerning the transaction, and in this case, the user may request the Company to listen to the recorded contents.
Article 18 [Confidentiality Obligation]
1. Except as provided by law, the Company shall not provide, disclose, or use for purposes other than business purposes, the personal information, account information, access means, and information or data on the contents and performance of electronic financial transactions of the user obtained in the course of conducting electronic financial transactions without the consent of the user.
2. The Company shall be liable for the theft and leakage of user information caused by the Company's negligence in management.
3. The Company shall not post or transmit advertisements or collect identification information (e.g., Serial, Mac Address, UUID, etc.) of the user's mobile phone or computer, etc., without the prior consent of the consumer, except in cases recognized by relevant laws and regulations.
Article 19 [Principles and Jurisdiction Other Than Terms and Conditions]
1. In the event that matters individually agreed upon between the Company and the user differ from those set forth in these Terms and Conditions, the agreed matters shall take precedence over these Terms and Conditions.
2. Matters not specified in these Terms and Conditions regarding electronic financial transactions shall be governed by the terms and conditions of individual contracts.
3. Matters not specified in these Terms and Conditions and individual contracts regarding electronic financial transactions (including definitions of terms) shall be governed by the "Electronic Financial Transactions Act", "Consumer Protection in Electronic Commerce, etc.", and "Specialized Financial Institutions Act".
4. The jurisdiction over disputes between the Company and the user shall follow the provisions of the Civil Procedure Act.
Chapter 2: Electronic Payment Agency Service
Article 20 [Definition]
The following definitions apply to the terms used in this chapter:
- "Electronic payment agency service" means a service that transmits or receives payment information or acts as an agent or intermediary for the settlement of the consideration for the purchase of goods or services (hereinafter referred to as "goods, etc.").
Article 21 [Payment Limit, etc.]
The payment limit for each user's payment method may be restricted depending on the company's policy and the criteria of the payment institution (credit card company, mobile phone company, etc.).
Chapter 3: Issuance and Management of Prepaid Electronic Payment Instruments
Article 22 [Definition[
- "T-money" refers to a prepaid electronic payment instrument issued and managed by the company directly or through its affiliates. The types of T-money are as follows:
- "T-money card" is an anonymous prepaid electronic payment instrument issued through a plastic card with an IC chip that can store "T-money", USB, or other access means certified by the company.
- "Mobile T-money" is an anonymous prepaid electronic payment instrument issued by the company to a USIM chip or SE (Secure Element, Embedded SE/Secure Memory card, etc.) installed in the user's mobile phone, tablet, or other mobile device.
- "Tmoney Pay" is an anonymous or registered prepaid electronic payment instrument issued in the form of an electronic document through the Tmoney Pay application provided by the company.
- "T-money Biz Pay" is an anonymous prepaid electronic payment instrument issued to corporations and public institutions that use the 'T-money Biz Pay' service according to the technical specifications defined by the 'company' directly or through the 'company's' affiliates.
Article 23 [Refund]
1. If a user presents a valid prepaid electronic payment instrument and requests a refund, the company shall refund the full amount of the balance recorded on the prepaid electronic payment instrument if 60% or more (80% or more if the balance after the last recharge is 10,000 won or less) of the balance recorded on the prepaid electronic payment instrument has been used since the time when the user last made a payment to recharge the instrument (hereinafter referred to as the "balance after the last recharge"). If the user requests a refund without using any of the balance within 7 days after the last recharge, the company shall also refund the full amount of the balance.
2. Depending on the type of prepaid electronic payment instrument, the company may refund the amount requested by the user even if the user has used less than 60% of the balance after the last recharge (less than 80% if the balance after the last recharge is 10,000 won or less). For details, please refer to the individual service terms and conditions.
3. Except in the case of Paragraph 4, the company may charge a certain refund fee depending on the refund method, and the refund request may be restricted if the balance of the prepaid electronic payment instrument is less than the refund fee.
4. In the event that a user requests a refund of the balance of a prepaid electronic payment instrument for any of the following reasons, the company shall collect the user's access means, etc. and pay the full amount of the balance. In this case, the company shall not charge the user a refund fee.
- In the event that a merchant is unable to provide goods or services due to a natural disaster, etc., and the prepaid electronic payment instrument cannot be used.
- In the event that a merchant is unable to provide goods or services due to a defect in the prepaid electronic payment instrument.
5. The company may restrict the refund limit and number of times to prevent fraudulent refunds for the purpose of cash flow. The company shall separately provide information on the refund reception center and fees on its website, etc., so that users can check it.
Article 24 [Handling of Loss and Theft]
In the event of loss or theft of the access means of a prepaid electronic payment instrument, the company shall not be liable for any loss of the stored amount, similar to the loss or theft of cash. However, for certain products of prepaid electronic payment instruments that the company has determined to be eligible for compensation through individual terms and conditions, etc., the company shall compensate the user for the amount stored on the access means up to the limit agreed upon in advance by the company based on the criteria set forth in advance if the user reports the loss or theft.
Supplementary Provisions
Article 1 [Effective Date]
These terms and conditions shall be applied from November 15, 2021.