Rules Governing the Business of Electronic Stored Value Card Issuers Article 5-1

An issuer that transfers funds pursuant to Article 5-1 of the Act shall follow the following provisions:1. The issuer shall keep all records obtained in verifying a cardholder's identity in registered card issuance operation for at least five (5) years after the business relationship with the cardholder ends.2. The issuer shall keep transaction details on transfer of funds stored in the cardholder's registered electronic stored value card into his/her electronic payment account, including time of transfer, the electronic stored value card number, the electronic payment account number, amount of transfer, code of transfer processing equipment, and transfer result.3. When the issuer signs up an electronic payment institution as a contracted merchant, the issuer shall state in the contract that the electronic payment institution may not pass the transfer transaction fee to the cardholders.