[Required] Terms and Conditions for Electronic Financial Transactions
"Article 1 (Purpose)
These Terms and Conditions set forth the basic provisions governing electronic financial transactions between the Company (hereinafter referred to as the “Company”) and users in connection with the user’s use of the prepaid electronic payment instrument issuance and management services, and the issuance and management of prepaid electronic payment instruments (hereinafter collectively referred to as “Electronic Financial Transaction Services”) provided by Swingtail (hereinafter referred to as the “Company”).
"Article 2 (Definitions of Terms)
The definitions of terms used in these Terms and Conditions are as follows; the definitions of terms not separately defined in this Article or these Terms and Conditions shall be as prescribed by relevant laws and regulations, such as the “Electronic Financial Transactions Act.”
1. “Electronic Financial Transaction” means a transaction in which the Company provides electronic financial transaction services through electronic devices, and the user utilizes such services in an automated manner without meeting or communicating directly with the Company’s employees.
2. “Electronic payment transaction” means an electronic financial transaction in which a payer (hereinafter referred to as the “payer”) instructs the Company to transfer funds to a payee (hereinafter referred to as the “payee”) using an electronic payment instrument.
3. “Electronic payment instrument” refers to payment instruments such as prepaid electronic payment instruments and credit cards that are provided through electronic means as defined in Article 2, Item 11 of the *Electronic Financial Transactions Act*.
4. “Electronic device” means a device used to transmit or process electronic financial transaction information by electronic means, including automated teller machines (ATMs), automated deposit and withdrawal machines, payment terminals, computers, telephones, and any other devices that transmit or process information by electronic means.
5. “Electronic document” means information created, transmitted, received, or stored in electronic form by an information processing system as defined in Article 2, Item 1 of the Framework Act on Electronic Documents and Electronic Transactions.
6. “User” means any person who agrees to these Terms and Conditions and uses the electronic financial transaction services provided by the Company.
7. “User ID” refers to a combination of numbers and letters set by the user and approved by the Company for the purpose of identifying the user and enabling use of the Service.
8. “Password” refers to a combination of numbers and letters set by the user and approved by the Company for the purpose of identifying the user and protecting the user’s information.
9. “Access medium” means any means or information used in electronic financial transactions to issue transaction instructions or to ensure the authenticity and accuracy of the user and the transaction details, including electronic cards and equivalent electronic information (including credit card numbers), certificates under the “Electronic Signature Act,” user IDs registered with the Company, the user’s biometric information, and passwords necessary for using the aforementioned means or information, as defined in Article 2, Item 10 of the Electronic Financial Transactions Act.
10. “Transaction Instruction” means an instruction given by a user to the Company to process an electronic financial transaction in accordance with the electronic financial transaction agreement entered into under these Terms and Conditions.
11. “‘Error’ means a case in which an electronic financial transaction is not executed in accordance with the electronic financial transaction agreement or the user’s transaction instructions, through no fault or negligence on the part of the user.”
"Article 3 (Disclosure and Amendment of Terms and Conditions)
① The Company shall post these Terms and Conditions on the service page before the user utilizes the electronic financial transaction services and shall ensure that the user can review the key provisions of these Terms and Conditions.
② Upon the user’s request, the Company shall provide the user with a copy of these Terms and Conditions via electronic transmission (including transmission via email).
③ When the Company amends these Terms and Conditions, it shall notify users by posting the amended Terms and Conditions on the initial screen of the electronic financial transaction service provided by the Company and on the Company’s website at least one month prior to the effective date. However, if the Terms and Conditions are amended on an urgent basis due to a revision in laws or regulations, the amended Terms and Conditions shall be posted on the initial screen of the service or the website ((www.fourfoot.co.kr) We will post the notice for at least one month and subsequently notify users via email or other means.
④ When providing the notice or notification referred to in Paragraph 3, the Company shall include a statement to the effect that “If the user does not agree to the change, the user may terminate the contract within 30 days of receiving the notice or notification; if the user does not express an intention to terminate the contract, the user shall be deemed to have agreed to the change.”
⑤ If the user does not express their intention to terminate the contract within 30 days of receiving the notice or notification pursuant to Paragraph 4, they shall be deemed to have consented to the change."
"Article 4 (Composition and Content of Electronic Financial Transaction Services)
① Electronic financial transaction services consist of the services listed in the following subparagraphs; where necessary, detailed information regarding each service is provided in the respective chapters of these Terms and Conditions.
1. Electronic Payment Processing Services
2. Payment Deposit Service
3. Services for the Issuance and Management of Prepaid Electronic Payment Instruments
② If the Company intends to add or modify electronic financial transaction services, it may do so after notifying users of the details in advance."
"Article 5 (Consent to and Withdrawal of Direct Debit)
① When a user consents to direct debit, the consent must be provided in electronic form in accordance with the methods and requirements specified by the Company.
② The Company provides a method for obtaining consent via electronic documents that complies with the requirements set forth in the Electronic Financial Supervision Regulations, and submits the consent received from the user to the Korea Financial Telecommunications & Clearings Institute and the relevant financial institutions for the execution of direct debit transactions.
③ The user may request the Company to revoke the consent granted under the preceding paragraph until a withdrawal record is entered into the user’s account ledger in accordance with the Company’s transaction instructions. Users may withdraw their consent to withdrawal transfers by deleting their registered account through the SwingTail service interface. However, users may not raise any objections regarding withdrawal transactions that occurred prior to expressing their intent to withdraw consent.
④ In cases such as transactions processed in bulk or transactions resulting from reservations, the Company may set a different timeframe for the withdrawal of consent in accordance with the agreement previously established with the user."
"Article 6 (Hours of Operation)
① As a general rule, the Company provides electronic financial transaction services to users 24 hours a day, 365 days a year. However, this may be subject to change depending on the circumstances of financial institutions or other payment method issuers.
② If it is unavoidable to suspend electronic financial transaction services due to maintenance or inspection of information and communications equipment, other technical necessities, or circumstances at financial institutions or other issuers of payment instruments, the Company may temporarily suspend the service after posting a notice of the suspension via an electronic medium at least three days prior to the suspension. However, in unavoidable circumstances such as system failure recovery, urgent program maintenance, or external factors, the Company may suspend the service without prior notice."
"Article 7 (Selection, Use, and Management of Access Media)
① When providing electronic financial transaction services, the company selects an access medium to verify the user’s identity, authorization, and the details of the transaction instructions.
② Users may not lend their access credentials to third parties, authorize others to use them, transfer them, or provide them as collateral, nor may they facilitate such actions.
③ Users must not disclose or expose their access credentials to third parties or leave them unattended, and must exercise due care to prevent the theft, forgery, or alteration of their access credentials.
④ "If the Company receives notice from a user regarding the loss or theft of an access device, the Company shall be liable to compensate the user for any damages incurred as a result of a third party’s use of that access device from the time such notice is received."
"Article 8 (Verification of Transaction Details)
① The Company shall enable users to review their transaction details (including “information regarding the user’s request for correction of errors and the results of such processing”) through the user information inquiry screen within the Service, and if a user requests a written copy of the transaction details, the Company shall provide such written documentation via facsimile or other means within two weeks of receiving the request. However, if the Company is unable to provide the transaction details due to operational failures of electronic devices, or other reasons, the Company must immediately notify the user of such reasons by transmitting an electronic document (including transmission via email), and the period during which transaction details cannot be provided due to operational failures of electronic devices or other reasons shall not be included in the period for providing written documentation.
(2) Among the transactions covered by Paragraph (1), those with a term of 5 years are as follows:
1. Name or number of the trading account
2. Types and Amounts of Electronic Financial Transactions
3. Information identifying the counterparty to an electronic financial transaction
4. Date and Time of Electronic Financial Transaction
5. Types of electronic devices and information that can be used to identify them
6. Fees received by the company in exchange for electronic financial transactions
7. Matters Concerning the User’s Consent to Withdrawals
8. Connection logs for the electronic devices related to the electronic financial transaction in question
9. Matters Concerning Applications for Electronic Financial Transactions and Changes to Terms and Conditions
10. Records of electronic financial transactions where the transaction amount per transaction exceeds 10,000 won
③ Among the transactions subject to Paragraph 1, those with a coverage period of one year are as follows:
1. Records Regarding Transaction Authorization Related to the Use of Electronic Payment Instruments
2. Information regarding the user’s request for correction of errors and the outcome of such requests
3. Other matters specified by the Financial Services Commission in a public notice
4. Records of small-amount electronic financial transactions with a transaction amount of 10,000 won or less per transaction
④ If a user wishes to request a written copy as specified in Paragraph 1, they may submit the request using the following address and phone number.
* Address: Room 504, Industry-Academic Cooperation Building, 327 Jungang-ro, Anseong-si, Gyeonggi-do
* Email address: fourfoot@fourfoot.co.kr
* Phone Number: 031-671-1332
"Article 9 (Correction of Errors, etc.)
① If a user becomes aware of an error while using the electronic financial transaction service, the user may request that the Company correct it.
② When the Company receives a request to correct an error in accordance with the provisions of the preceding paragraph, or when it becomes aware of an error on its own, it shall immediately investigate and address the matter, and then notify the user of the results in writing within two weeks from the date the correction request was received or the date the error was discovered. However, if the user’s address is unclear or if the user so requests, the Company may provide such notification by telephone, email, or other means."
"Article 10 (Liability of the Company)
① The Company shall be liable to compensate the User for any damages incurred as a result of an incident falling under any of the following subparagraphs.
1. Accidents caused by the forgery or alteration of access media
2. Incidents occurring during the electronic transmission or processing of contract execution or transaction instructions
3. Incidents resulting from the use of access devices obtained through false or other fraudulent means by hacking into electronic devices used for electronic financial transactions or into information and communications networks as defined in Article 2, Paragraph 1, Item 1 of the “Act on the Promotion of the Use of Information and Communications Networks and the Protection of Information, etc.”
(2) Notwithstanding paragraph (1), the Company may require a user to bear all or part of the damages incurred by such user due to any of the following reasons:
1. If the user lends their access device to a third party, authorizes a third party to use it, or provides it for the purpose of transfer or as collateral
2. Where the user disclosed, exposed, or neglected their access credentials, even though they knew or should have easily known that a third party could use those credentials to conduct electronic financial transactions without authorization;
3. Where an incident described in subparagraph 3 of the preceding paragraph occurs because a user, without just cause, refuses to comply with additional security measures required by a financial institution or electronic financial services provider during an electronic financial transaction—beyond the verification required under Article 6, Paragraph 1 of the “Electronic Financial Transactions Act”—for the purpose of strengthening security
4. If an incident occurs as described in subparagraph 3 of the preceding paragraph because the user has disclosed, exposed, or neglected the media, means, or information used for the additional security measures specified in subparagraph 3, or has lent, authorized the use of, transferred, or provided such media, means, or information to a third party for the purpose of collateral;
5. In cases where a user that is a corporation (excluding small businesses as defined in Article 2, Paragraph 2 of the “Framework Act on Small and Medium-Sized Enterprises”) suffers damages, provided that the Company has exercised the sufficient duty of care reasonably required—such as establishing security procedures and strictly adhering to them—to prevent the incident;
③ The Company may temporarily suspend the provision of electronic financial transaction services when circumstances such as maintenance, inspection, or replacement of information and communications equipment (including computers) arise. In such cases, the Company shall notify users in advance of the suspension schedule and reasons for the suspension through its website or other means."
"Article 11 (Withdrawal of Trading Instructions)
① If a user conducts an electronic payment transaction using the Company’s electronic financial transaction service, the user may revoke the transaction instruction in accordance with these Terms and Conditions—by transmitting an electronic document(including transmission via email) or by using the withdrawal feature on the service page. However, the effective date of the withdrawal of a transaction instruction for each service shall be governed by Articles 18, 22, and 27 of these Terms and Conditions.
② Once an electronic payment has taken effect, the user may receive a refund of the payment amount in accordance with the procedures for withdrawing an offer set forth in relevant laws and regulations, such as the “Act on Consumer Protection in Electronic Commerce, etc.”
"Article 12 (Creation and Retention of Electronic Financial Transaction Records)
① The Company shall create and retain records that enable it to track and search the details of electronic financial transactions conducted by users, and to verify or correct such details in the event of an error.
② The types of records the Company must retain in accordance with the provisions of the preceding paragraph, and the methods for retaining them, shall be as specified in Article 8, Paragraphs 2 and 3."
"Article 13 (Prohibition on the Provision of Electronic Financial Transaction Information)
① In providing electronic financial transaction services, the Company shall not provide or disclose to third parties, nor use for purposes other than business purposes, any information or data regarding users’ personal information, accounts, access media, or the details and transaction history of electronic financial transactions obtained in the course of providing such services, without legal authorization or the user’s consent.
② The Company operates a Privacy Policy to protect users’ personal information so that they can safely use electronic financial transaction services. The Company’s Privacy Policy can be viewed on the Company’s website or via a link on the service page."
"Article 14 (Dispute Resolution and Mediation)
① Users may request dispute resolution—including raising opinions or complaints regarding the use of electronic financial transaction services and filing claims for damages—with the dispute resolution officer listed at the bottom of the Company’s service page.
② The Company shall notify the user of the results of its investigation or resolution within 15 days of the date the user filed a dispute resolution request with the Company.
③ If a user objects to the Company’s dispute resolution outcome pursuant to Paragraph 2, the user may apply for dispute mediation regarding the use of the Company’s electronic financial transaction services to the Financial Dispute Mediation Committee of the Financial Supervisory Service under the “Act on the Establishment of the Financial Services Commission,” or to the Korea Consumer Agency under the “Framework Act on Consumer Protection.”
"Article 15 (The Company's Duty to Ensure Safety)
"The Company shall exercise due care as a prudent manager to ensure that electronic financial transactions are processed securely, and shall comply with the standards established by the Financial Services Commission regarding information technology—including personnel, facilities, and electronic devices for the electronic transmission or processing of each type of electronic financial transaction—and electronic financial services, in order to ensure the safety and reliability of such transactions."
"Article 16 (Supplementary Rules and Jurisdiction)"
① If any terms agreed upon individually between the Company and the User differ from those set forth in these Terms and Conditions, such agreed-upon terms shall take precedence over these Terms and Conditions.
② Matters not specified in these Terms and Conditions shall be governed by the provisions of consumer protection laws and regulations, including the “Electronic Financial Transactions Act,” the “Act on Consumer Protection in Electronic Commerce, etc.,” and the “Specialized Credit Finance Business Act.”
③ Jurisdiction over disputes arising between the Company and users shall be governed by the provisions of the *Civil Procedure Act*."
Chapter 2: Electronic Payment Processing Services
"Article 17 (Definitions)
The term “Electronic Payment Settlement Agency Service” refers to a service that transmits or receives payment settlement information, or acts as an agent or intermediary in the settlement of payments, in connection with the purchase of goods or services (hereinafter referred to as “Goods, etc.” in these Terms and Conditions) by electronic means.
Article 18 (Withdrawal of Trading Instructions)
① If a user utilizes an electronic payment settlement agency service, or if the user makes a payment using a prepaid electronic payment instrument, the user may revoke the transaction instruction until the information regarding the instructed amount reaches the electronic device designated by the payee; or, if the user pays using any other electronic payment instrument, until the information regarding the transaction amount has been fully entered into the electronic system of the financial institution where the payee’s account is held or into the Company’s electronic system.
② If a payment transaction has not been executed due to the user’s withdrawal of a transaction instruction, the company must return the funds it has received to the user.
Article 19 (Limits, etc.)
"Depending on the company's policies and the standards of payment providers (such as mobile carriers and credit card companies), the monthly cumulative payment amount and payment limit for each user's payment method may be subject to restrictions. You can find more information on the Customer Service page."
Chapter 3: Payment Escrow Service
"Article 20 (Definitions)
The definitions of the terms used in this chapter are as follows.
1. “Payment Escrow Service” refers to a system used in advance-payment online sales conducted via websites and other platforms, whereby the Company holds the payment made by the consumer in escrow and remits the payment for the goods to the seller after delivery is completed.
2. “Advance-payment distance selling” refers to a form of distance selling in which the consumer pays all or part of the purchase price in advance, before receiving the goods or other items.
3. “Seller” refers to a person who has agreed to these Terms and Conditions, has established a store on a website or similar platform, and engages in online sales.
4. “Consumer” means a person who agrees to these Terms and Conditions and purchases goods, etc., from a seller listed on the website or similar platforms, and who meets the requirements set forth in Article 2, Paragraph 5 of the “Act on Consumer Protection in Electronic Commerce, etc.”
Article 21 (Details and Payment Methods for the Payment Escrow Service)
① A consumer (including, where the consumer has given consent, a person who is to receive the goods or services) must notify the Company of the receipt of the goods or services within 3 business days from the date of receipt.
② After being notified by the consumer that goods or services have been supplied, the Company shall pay the sales proceeds to the seller within the timeframe agreed upon between the Company and the mail-order seller.
③ If a consumer fails to notify the Company of the receipt of goods or services within three business days of the date of receipt, without providing a valid reason, the Company may pay the purchase price to the seller without the consumer’s consent.
④ If a reason arises for the Company to refund the payment amount to the consumer before paying it to the seller, the Company shall refund that amount to the consumer.
Article 22 (Withdrawal of Trading Instructions)
① If the user utilizes a payment deposit service, or if the user makes a payment using a prepaid electronic payment instrument, the user may revoke the transaction instruction until the information regarding the instructed amount reaches the electronic device designated by the payee; or, if the user pays using any other electronic payment instrument, until the information regarding the transaction amount has been fully entered into the electronic system of the financial institution where the recipient’s account is held or into the Company’s electronic system.
② If a payment transaction has not been completed due to the user’s withdrawal of a transaction instruction, the company must return the funds it has received to the user."