How to join Eximbay - Non businesses (Individuals)

Business owners and even non-business individuals can sign up for PG as long as they meet the review requirements. Domestic and overseas credit card payments are available, and it will take about 7 business days for the PG to be ready for use.

Payment methods offered

• Domestic credit cards (Hyundai Card, Samsung Card, Shinhan Card, Nonghyup Card, BC Card, Hana Card, Lotte Card, KB Card)
• Overseas credit cards (Visa, Mastercard, JCB, Diners, Discover, Unionpay)

Service Application Process

STEP1 :

• Fill out all information in [SETTINGS > Basic Settings].
• Carefully check and complete the contents of [SETTINGS > Terms and Conditions], including Sales Operation Policy.
• Enter the business information in [SETTINGS > Site Design > Footer].
• Among the Terms and Conditions of [SETTINGS > Site Design > Footer], [Terms and Conditions], [Privacy Policy] and [Youth Protection Policy] must be completed.

STEP2 :

• Click the Eximbay link and fill out the application.
  
  • If you go to the [Inspection] stage, Eximbay will send you an e-contract through the email address of the person in charge.
  • Attach a copy of the bank details for settlement.
  • Please register for guarantee insurance.
    • Guarantee insurance subscription fee: KRW 10 million (amount might be different depending on the sales volume)
    • Warranty insurance subscription date: The date of application submitted
    • Apply for guarantee insurance 

STEP3:

• Eximbay will provide the MID and Secret Key via email.
• Go to [SETTINGS > Shopping Settings] and click the [Next] button below, "I already signed the contract."

STEP4:

• Select the PG company that you have a contract with. Please fill out the required fields in both Digital and Physical section.
  • Enter the [Payment method] (ex. Credit card) for one-time and recurring payments.
  • Currencies cannot be changed once the SHOP is open. Therefore, those who intend to proceed with global sales should select both KRW and USD.
  • Enter the MID and Secret Key that you received from Eximbay.
    • If you enter the incorrect value, there will be issues during settlement, hence, please make sure to enter the correct value.
• After setting up the exchange rate, click the [Next] button.
• Select whether to use points and fill out the required fields.
  • You may change the name of the points, units and basic earnings rate later, however, you will not be able to change the points expiration period. 
• When all settings are complete, click [Request a review].

STEP5:

• b.stage will conduct an internal review. This might take up to 5 business days.
• When b.stage finishes the review, the approval details will be sent to the email address of the admin account who requested it.

STEP6: 

• All steps were completed.
  

Eximbay Fee Information

Precautions for PG Registration

• Before signing up for the service, please check if all the settings are completed and that you have all the necessary documents to submit when requested.
• If you do not satisfy the following conditions or if a test product is registered, you may be disqualified during the card company review.
• The PG Review may be denied depending on the industry or content type listed below.
  • If you are conducting business in an industry where credit cards cannot be used, you will not be able to sign up. Please make sure to double-check it.
• The billing name after payment will be sent as bemyfriends Co., Ltd. instead of your b.stage business name.
• Although the payment services are available immediately after the PG registration, settlements will be calculated after the attachment of electronic contract and the copy of bank details.

• If you sign up for a PG as a non-business, you will not be able to issue cash receipts and tax invoices. Also, there will be restrictions as follows:
  • 1-time approval limit: KRW 500,000 won
  • Up to 24 million won annually (maximum of 2 million won per month)
  • Installment payments cannot be made. Lump-sum payments only.
  • Settlement cycle: Monthly settlements for payments in both Korea and overseas (M+15)
• If you are willing to sell products continuously, you must proceed with business registration and report as a telemarketing business. Otherwise, one may be subject to the following disadvantages:
  • Non-registration penalty of 1% (for simplified taxable person, 0.5% of the proceeds from supply) of the supply price for transactions that occurred without business registration.
  • If a business runs without registration, one will not be able to get deductions on the input tax.
• Additional penalty tax on non-filing or incorrect filing as well as 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.
• Additional penalty tax on non-filing or incorrect filing if income taxes are not reported and the penalty tax from unfaithful payment (additional resident tax of 10%)
  • Penalty tax on non-filing or incorrect filing: Must pay a penalty of 20% for the proportion of non-filed or underreported amount 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 unpaid or underpaid.
• In addition to the above, one may be subject to punishment in accordance with relevant laws, such as the Punishment of Tax Offenses Act.

Industries where credit cards are not accepted

• Adult content and services
  • Adult pornography (Adult comics, etc.), Adult websites (Adult content), Adult entertainment recruitment, lottery number generation services, matchmaking (Relationship consultations) and in-person meeting services
• Adult products
  • Excluding condoms, pheromone perfume, gels
  • Adult lingerie, Alcoholic drinks excluding traditional liquor, Cigarettes, Electronic cigarettes including liquids and supplies
• Gambling and fortune-telling services, etc.
  • Speculative games, game items, chats, auctions, bidding, horse racing, cycle racing, and other gambling-related services, talisman/divination/naming, horoscope, fortune-telling (KRW 500,000 won or more). Charging (more than KRW 100,000 won) 
• Hazardous items
  • Toy guns (Review can only be conducted if information that only KC-certified toys are being sold on the website), guns, swords, weapons excluding toys, industries that require trade restrictions according to social norms (drugs, etc.), military uniforms and military equipment (military supplies)
• Financial products, gift certificates, etc.
  • Loan consultations, lottery tickets, prepaid cards (including USIM), Bitcoins, cryptocurrency related products, cyber money, gift certificates, point cards, phone cards (including USIM), discount cards, mobile phone subscription services, insurance with recurring payments, stock information provision, investment (funding), condominium memberships, coupons (social), funding, Herbalife, offering/donations/religious donations, multi-level marketing, membership fees, alumni fees, participation fees (KRW 500,000 or more)
• Expensive goods
  • Jewelry, antiques, artworks (KRW 2 million won or more), pure gold/silver, gold bars, diamonds, watches (KRW 10 million won or more), and others (KRW 5 million won or more), second-hand cars, motorcycles
• Others
  • Prescription glasses, contact lenses, rice grains (rice, etc.), items with a high potential for civil complaints, adoption and sale of living animals (KRW 10,000 won or more) and information provision, credit card terminals, internet shopping sales, e-passport procedures (ESTA), etc.
    

Eximbay Customer Service

• Eximbay Customer Service
  • When contacting Eximbay, please notify them that the partner company is "b.stage".