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- Communication sales business registration is possible when applying for PG, and it must be proceeded after receiving the purchase safety service confirmation certificate.
- Guarantee insurance is required for the affiliated store, and the monthly settlement limit is applied according to the amount of guarantee insurance.
- Guarantee insurance is mostly processed by Seoul Guarantee Insurance, and each PG company has a dedicated agent.
1. You can apply for PG and Communications Sales Business Registration at the same time!
After passing the PG company's entry review, you must have a 'Communications Sales Business Number' listed at the bottom of the service page to proceed with the card company's review. (Required for KB Kookmin Card review) We'll guide you through how to obtain a Purchase Safety Service Use Confirmation Certificate from the PG company, which is required for Communications Sales Business registration.
1. After passing the entry review for the PG company you plan to join, request a Purchase Safety Service Use Confirmation Certificate (Escrow Confirmation Certificate) when signing the contract with the PG company. (Issued within 1-2 days after application)
2. After obtaining the Purchase Safety Service Use Confirmation Certificate (Escrow Confirmation Certificate), proceed with
Communications Sales Business registration.
3. After entering the Communications Sales Business registration number at the bottom of the service page, receive a review from
the card company.
2. You need to join a guarantee insurance to receive settlement!
What is Guarantee Insurance?
Guarantee insurance is a type of insurance designed to protect against consumer complaints and damages that may arise from incidents after a merchant enters into a contract with a PG company. It covers situations where the merchant cannot comply with the contract with the PG company.
- 1-year contract period / Renewal process required at contract expiration
Is joining mandatory?
PG companies assess the risk associated with merchants and determine whether they should join guarantee insurance. The monthly settlement limit for merchants is applied based on the guarantee insurance amount. If a merchant's business type does not have guarantee insurance or if the insurance is not renewed, settlement may be delayed. Therefore, joining guarantee insurance is essential for stable business operations.
How much does it cost to join?
- Guarantee insurance amount X Standard rate (May vary slightly depending on the PG company) = Guarantee insurance payment
Example) Guarantee insurance amount: 10 million KRW X Standard rate (0.72%) = Guarantee insurance payment 72,000 KRW
Where can I join insurance?
Guarantee insurance for PG companies is mostly handled by Seoul Guarantee Insurance. Each PG company has a dedicated agency so you can get guidance when signing the contract with the PG company.
