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Shopping Settings (Pre-setting)

For full-fledged revenue generation, you can add a payment function to your own b.stage. Please create a direct contract with the PG company.
Since the details of preparation for PG contracts are different for businesses/corporations and non-businesses (individuals), please check the details below.


👉 For businesses/corporations

ⓐ Business Registration

  • If you have not yet registered your business, please refer to the link to proceed.

ⓑ Reporting a telemarketing business

  • If a general tax entity that was not registered as a telemarketing business sells goods and services online, the business and person who is responsible may be liable for suspension of business license for 15 days or longer, and the fine of up to KRW 5 million. Therefore, please be sure to report as a telemarketing business before creating an E-Shop. If you do not register the telemarketing business, you may not be able to pass through the PG or Card Company review.

✔️ Required documents

  • Registration Application for a telemarketing business: you can Find a form at a local administration office. (Hosting Server location is provided below. : Room 811, Building 2, Korea Science and Technology Center, 22 Tehenran-ro 7-gil, Gangnam-gu, Seoul)
  • Business License
  • Idtentification of the business representative
  • Certification of using escrow services
    • (For corporations) certified copy of corporate registration, registered corporate seal and certification of the corporate seal
    • Escrow Services certification may be obtained at the primary bank your business is using. Please ensure to match the address on the escrow services ceritifcate and business license since it is a general requirement.

 

  • Kookmin Bank: Seller > Seller certification mark (certification mark registration) > Seller certification mark (purchase safety service)
  • Industrial Bank of Korea: Transfer > Subscribe to service > Issuance of confirmation of safe transfer use
  • Nonghyup: Subscribe to NH escrow service > Register certification mark > Issuance of purchase safety service use confirmation
  • Post Office: Deposit > Register for Escrow Service > My Escrow > Issuance of Escrow Confirmation

 

  • Apply online

1. Please visit Government24 website.
2. Please click [Apply] and log in.
3. Please submit all required documents.
4. Please fill in every required fields, then click on [Apply for the request].
5. After 3 business days approximately, you can view the processing result via History > Online request received.
6. When an application is complete, an SMS informing you about your application status will be sent to the phone number you have entered. Please visit the designated location to retrieve the documentations.
7. The license registration fees are KRW 40,500 for populations of 500,000 or more, KRW 22,500 for populations of 500,000 or less and KRW 12,000 for Gun.


ⓒ Guarantee Insurance Policy

  • Guarantee Insurance is a collateral to be contingent for incidents such as cancellation without ordinary performance of the transaction after the payment amount has been remitted, or occurrences of chargeback (dishonored transaction).
  • You can purchase a guarantee insurance policy from SGI Seoul Guarantee Insurance, based on the agreement with Eximbay after the completion of the contracting process.
  • Please contact Eximbay for more information about Guarantee Insurance Policy.


ⓓ Precautions for Business/Corporation PG Registration

  • Before applying for the registration, please check if all the settings are complete and that you have all the necessary documents for your Stage to undergo a Card Company review.
  • You many be disqualified during the review, if you do not satisfy the following conditions or if a test product is registered.
  • Depending on the industry and type of content, the PG review may be denied. If your business is in an industry where credit cards cannot be used, you will not be able to sign up. Please make sure to check the industry before registering.
  • The standard settlement period is 1 week for Korean and 3 weeks for overseas.
  • Read more about precautions when registering via Eximbay.
  • Read more about precautions when registering via Paypal.


👉 For non-businesses (individuals)

ⓐ Guarantee Insurance Policy

  • Guarantee Insurance is a collateral to be contingent for incidents such as cancellation without ordinary performance of the transaction after the payment amount has been remitted, or occurrences of chargeback (dishonored transaction).
  • You can purchase a guarantee insurance policy from SGI Seoul Guarantee Insurance, based on the agreement with Eximbay after the completion of the contracting process.
  • Please contact Eximbay for more information about Guarantee Insurance Policy.

ⓑ Precautions for Non-Business PG Registration

  • Before applying for the registration, please check if all the settings are complete and that you have all the necessary documents for your Stage to undergo a Card Company review.
  • Depending on the industry and type of content, the PG review may be denied. If your business is in an industry where credit cards cannot be used, you will not be able to sign up. Please make sure to check the industry before registering.
  • The billing name after the payment will be sent as bemyfriends Co., Ltd. instead of your b.stage business name.
  • Altough the payment service is available immediately after aplying for PG registration, settlements will be calculated after the attachment of the electronic contract (consent to terms of service) and bankbook copy.
  • If you register PG as a non-business, cash receipts or tax invoices cannot be issued, no deductions on the input tax.
  • Also, there are the following restrictions as a non-business:
    • 1-time approval limit: KRW 500,000
    • Up to KRW 24 million won per year (maximum KRW 2 million per month)
    • Installment payments cannot be made. Lump-sum payments are only allowed.
    • Settlements cycle: Monthly settlements for payments in both Korea and overseas (M+ 15)
  • If you continue to sell, you must register your business and report as a telemarketing business. If not, your Stage may be subject to the following disadvantages:
    • Non-registration penalty tax of 1% of the supply value (0.5% of the supply price for simplified taxpayers) for transactions made without business registration.
    • Additional penalty tax on non-filing or incorrect filing and the penalty tax from unfaithful payment for transactions, which the VAT was not reported due to non-registration of the business

• Penalty tax on non-filing or incorrect filing: In cases of non-filing or underreporting, one must pay the penalty of 10% of the tax amount that was not reported.

• Penalty tax for unfaithful payment: In cases of payment failure or underpayment, one must pay the penalty of 0.03% per day (10.95% annually) of the tax amount that was unpaid or underpaid.

  • If income taxes are not reported, one must pay additional penalty tax on non-filing or incorrect filing and the penalty tax for unfaithful payment (additional resident tax of 10%).
  • Penalty tax on non-filing or incorrect filing: In cases of non-filing or underreporting, one must pay a penalty of 20% from the calculated tax amount.
  • Penalty tax for unfaithful payment: In cases of payment failure or underpayment, one must pay the penalty of 0.03% per day (10.95% annually) of the tax amount that was unapid or underpaid.
  • In addition to the above, one may be subject to punishment in accordance with relevant laws and regulations.