Kakao is revising its refund policy for mobile gift certificates used in services like KakaoTalk gifting to be more consumer-friendly. The refund rate for mobile gift certificates exceeding 50,000 won that have expired will increase from 90% to 95%, and users will receive prior notifications about the impending expiration of prepaid balances, enhancing consumer rights.
According to the IT industry on June 28, Kakao announced a revision to its electronic financial transaction terms on June 22. The new terms will take effect in August.
The key aspect of this revision is the incorporation of the Fair Trade Commission's newly revised standard terms for gift certificates, which were announced last year. The focus is on improving the refund criteria for mobile gift certificates and strengthening protections for users' rights.
Previously, users could only receive 90% of the purchase amount when refunding expired mobile gift certificates, regardless of the amount. The remaining 10% was deducted for processing fees, leading to ongoing consumer complaints.
Under the new terms, gift certificates valued at 50,000 won or less will still receive a 90% refund, but those exceeding 50,000 won will now have a 95% refund rate. This means that users who receive high-value gift certificates, such as electronics, hotel stays, or luxury brand vouchers, will face a smaller deduction when seeking refunds after the expiration date.
If users choose to receive their refunds in Kakao Shopping Points instead of cash, they will be able to convert the full amount into points without any deductions.
Additionally, measures have been established to prevent users from losing their rights due to expiration. According to current law, the right to use mobile gift certificates and prepaid balances expires after five years. The revised terms require that users be notified in advance of their balance and the impending expiration to prevent loss of funds.
Furthermore, users will have enhanced control over their account management. Even if they have consented to withdrawals during the use of payment services like KakaoPay, they can withdraw their consent or cancel account registration at any time before the actual withdrawal occurs.
* This article has been translated by AI.
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