In the future, the name of the actual purchaser will be displayed in the card payment history, which will solve the inconvenience caused by the difficulty of consumers knowing the transaction details.
The National Rights Commission announced on the 3rd that it will improve the standard terms and conditions for individual credit card members to protect the rights and interests of financial users in cooperation with the Financial Services Commission and the Credit Finance Association.
In the meantime, with the exception of some credit card companies, there have been many complaints from consumers as only the PG (Payment Gateway) company information is displayed in the card payment details such as the bill of use, not the actual purchase company name.
According to the Credit Specialized Finance Business Act, even though card companies receive and hold information about sub-merchants from PG companies, consumers must go through the customer service center of the card company or PG company’s own website to confirm this.
Accordingly, the National Human Rights Commission of Korea reviewed and analyzed complaints related to the method of displaying credit card payment details received in the National Shinmungo, and proposed a plan to improve the system and implement it to the Korea Credit Finance Association.
Specifically, it is improved so that consumers can check the company that purchased the product without having to consult with the credit card company’s customer center or access the PG company’s homepage.
In addition, in the case of a multi-layered PG payment structure that passes through multiple PG companies, information on sub-affiliated stores of the primary PG company (eg 00 Mart) and the headquarters of the secondary PG company (eg 11th Street, Interpark, open markets, Naver Pay, etc.) It was suggested to display even delivery apps).
The Credit Finance Association plans to revise the’Standard Terms and Conditions for Individual Credit Cards’ by September of this year after consultation with related businesses and organizations based on the contents of the proposal of the National Human Rights Commission.
Kim Ki-seon, Director of Planning and Finance, National Human Rights Commission of Korea, said, “With this proposal to improve the system, we expect that the discomfort and anxiety of card users due to the spread of non-face-to-face consumption will be minimized.” We plan to improve it,” he said.
Eunji Cha, reporter Hankyung.com [email protected]
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