Regulations Governing Identity Verification Mechanism and Transaction Amount Limits of Electronic Payment Institutions Article 19

When an electronic payment institution signs a contracted institution contract with a contracted institution, it shall request the contracted institution to provide advertisements, photographs of the business premises, or other information that can verify the existence of real transactions for its supply of product or services.An electronic payment institution must sign a “contracted institution contract” with a user before it may provide the user with services as being a payee in the process of collecting and making payments for real transactions as an agent service, but this does not apply to those that meet the conditions prescribed in the regulations in Subparagraph 4, Article 6 of the Act, or Article 7 of the Rules Governing the Administration of Electronic Payment Business.