Rules Governing the Administration of Electronic Payment Business Article 21

When an electronic payment institution refunds the payment funds received from a user, it shall, return the funds through the payment method originally used by the user, return into the user's original e-payment account, original stored value card, original deposit account or original credit card account.Except where the amount of the payment were originally paid by a user via a credit card, an electronic payment institution that is approved to engage in the business of accepting deposits of funds as stored value funds may convert the refunds specified in the preceding paragraph into stored value funds as agreed with the user, where the balance of stored value funds shall be in accordance with the provisions of Paragraph 1, Article 16 of the Act.Where an electronic payment institution is unable to carry out refunds according to the preceding two paragraphs, the institution shall request and be agreed by the user to provide his or her own deposit account, which may be used for the refund operation, and it may transfer the relevant refunds into the said deposit account without making the refund in cash.