◎ Main contact: call us at +2.2140.2777 for more details.
◎ Fill out your inquiry or application and send it to email@example.com or fax it to +2.2140.2701 for registration and follow-up call. Download Application Form
2. Service Contract and Requirement Documents
◎ 2 copies of contracts: must be signed and seal stamped download contract / guide to fill up
◎ One copy of each required document below, Two copies of each required document for mobile micro payment service : Please be aware of originals and copies
|Incorporated Business||1. 1 Copy of Korean Business Certificate (Only required if merchant is in Korea )
2. 1 Copy of Business License
3. 1 Copy of company’s bank passbook (Only required if merchant is in Korea )
4. 1 Copy of business owner’s passport
Address : [138-170] 2F Art Nouveau Palace, 7-1 Songpa-dong, Songpa-gu, Seoul, Korea
◎ Goods or services must abide by public order and standards of decency.
◎ Once we receive application form, we notify you about the possibility of making contracts.
Fees – Set up fee : $ 200 USD – Quarterly Fee : $ 50 USD (for each ID account) – Insurance policy :1.2% of approximate annual transaction rate (Can be changed for the status or security deposit will be necessary )
|Nationalities||Payment Methods||Transaction Fee(VAT excluded)||Settlement Period|
|Global||Credit card||~ 5.5 %||Monthly|
|CUP (China Union Pay)||~ 5.0 %||Monthly|
|Alipay||~ 5.0 %||Monthly|
|Japanese Bank Transfer||~ 5.0 %||Weekly (every Thursday)|
|Within Korea||Credit Card||~ 5.5 %||Monthly|
|Real-time Bank Wire Transfer||~ 3.0 % / trans||Monthly|
|Virtual Bank Account Transfer||400 KRW / trans||Monthly|
|Mobile Phone Billing Payment||~ 8.0 %||D+2 months (2 months after purchase)|
3. API Integration
◎ Merchant side developers must work on merchants’ website based on Paygate API manual. ※ Only the basic guide will be offered until the fee is paid.
◎ Technical support inquiry : firstname.lastname@example.org
◎ Download Payment API manual
4. Paying Expenses
1. Payment of Start-up and Annual Fee
◎ Set up fee : $ 200 USD, Quarterly Fee : $ 50 USD (for each ID account)
◎ Insurance policy :1.2% of approximate annual transaction rate (Can be changed for the status or security deposit will be necessary ) * Service may not be available unless the fee is paid or guarantee insurance is fixed. * Electronic tax invoice on the paid amount will be sent out every Monday. * Annual Fee applies to numbers of IDs, and separate IDs required for domestic and international payment service.
◎ Set up fee and annual fee are not refundable.
◎ You will be billed as PayGate Co., Ltd. on your statement.
Deposit accounts available – Shinhan bank(USD) : 180-000-213990, PayGate LTD – Kookmin bank(KRW) : 777-25-0004-521,
PayGate LTD * Please make payment as the registered business name, and check your email registered for tax invoice.
Pay by overseas issued credit card – Visit our homepage www.paygate.net VISA, Master, JCB, Amex.
1) Quarterly Fee : 50USD 2) Set up fee + Quarterly Fee(ID) : 250USD 3) Set up fee + Quarterly Fee(2 ID) : 300USD
2. Surety Insurance
◎ Means? – There is always exposed risk in Online Mall such as delivery accident, mall bankruptcy etc. To prevent the happens, the insurance policy or security deposit is required.
◎ Summary – For overseas (out of Korea) business owners, security deposit is necessary instead of insurance policy. – 1.2% of the Mall’s annual estimate transaction amount will be deducted from the first settlement balance for insurance.
◎ Refund Policy – When you terminate the contract, you will have all fund of the insurance or the deposit back 100%.
1. Inspection 7 major credit card companies in Korea (KEB, Samsung, BC, KB, Lotte, Shinhan, and Hyundai) review the Malls to see if they are legal, trustworthy and are run properly so that the online mall is permitted to charge their customers’ credit cards.
1) Homepage Confirmation Business license number, owner’s name, contact number, e-mail, company address are verified
2) Payment gateway integration and payment testing After the integration is done, temporary ID and password is issued. (Merchant ID is set as login ID) The temporary ID and password only for testing between credit card companies and PayGate
3) Review of Payment processing screen Capture the payment processing screen and analyze it The captured files are sent to various inspectors
4) Complete inspection After completion of all above steps is confirmed, credit card payments are permitted * Payment system integration and homepage confirmation must be done before the inspection * The inspection takes 7 to 10 days after all the documents have been verified
2. Open your Online store’s doors. After all of above steps have been completed, open your brand new online store. Good Luck!
6. Shop Management
Member management guide
1. Transactiion Management – View Transaction Detail
2. Acquiring / Settlement Management – Settlement List
3. Acquiring / Settlement Management – Settlement Details Manual Download