[Refunding of prepaid electronic payment means]

 

1. User can request refunding of the outstanding balance of the prepaid electronic payment means and the company shall refund the entire outstanding balance of prepaid electronic payment means without deduction of fees in accordance with the procedures stipulated by the company in any of the following cases. However, if the case does not correspond to any of the following and request is simply due to change of mind of the user, then, refund can be refused or made after having deducted corresponding fees.

 

1) In the event of requesting the refunding of the entire purchase value within 7 days of the date of purchase of the prepaid electronic payment means

2) If it is impossible to use the prepaid electronic payment means due to the difficulty of member outlets to provide goods or services because of force majeure reasons such as natural disaster, etc.

3) If the member outlet is unable to provide goods or services due to defects in the prepaid electronic payment means

4) In the event of requesting refunding of the outstanding balance after having used the prepaid electronic payment means normally purchased or recharged by the user for purchasing of goods or services and the said outstanding balance is more than 60% of the balance at the time of initial purchase or final recharging (more than 80% if the balance is less than 10,000 Won) (however, use for giving portion of the balance as gift, assignment and conversion of points, etc. is not included in the aforementioned use of the balance).

 

2. In the case of partnership card with separate standards for refund by the alliance company, the standards of the alliance company for refund will be applied with priority.

 

3. Portion rather than the entire outstanding balance of the prepaid electronic payment means cannot be refunded.

 

4. In the case of prepaid electronic payment means given for free by the company through the purchase of goods and services or event, it will be excluded from the refund policy and will not be included in the computation of the amount of use stipulated under Item (4) of Clause 1 above. In addition, if the company refunds the prepaid electronic payment means to the user, the prepaid electronic payment means provided for free by the company will be extinguished.

 

5. The company can limit the amount and frequency of refund in order to prevent illegal refund for the purpose of making cash available by the user.

 

6. Other issues regarding refund not stipulated under this provision of agreement will be notified through the application screen.

 

- Refer to Article 15 of the ‘Provisions of agreement for use of electronic financial transaction’ of LORD System.