LINE Pay Money Account Contract have been amended

It is hereby announced that Article 3 and Article 8 of the “iPASS Standard Form Contract for the Business of Electronic Payment Institutions” have been amended and will be implemented from January 21, 2020.

For the contents amended, please refer to the following comparison table showing the difference between the previous and new terms. If the user disagrees with this amendment, please inform the Company to terminate the contract in accordance with Article 23 of the “iPASS Standard Form Contract for the Business of Electronic Payment Institutions.” If the user does not make such objection within seven days, it is presumed that the user accepts the modification, addition or deletion of the terms.

Comparison Table of the Amendment to the Standard Form Contract
for the Business of Electronic Payment Institutions

Items

After the amendment

Before the amendment

Article 3

10. If the user is a minor, the Company may make adjustment (reduction) to stored value, e-payment account transfer and transaction limit within the statutory limit. The legal representative may also apply for the aforementioned adjustment, transaction data and other related information of the minor user’s e-payment account.

11. With respect to stored value, e-payment account transfer and transaction limit on an e-payment account of a minor, the Company may adjust the limit automatically within the statutory limit according to a major once he/she is reaching twenty years of age.

10. If the user is a minor, his/her legal representative may apply for adjustment (lowering) of stored value, e-payment account transfer and transaction limit within the statutory limit. The legal representative may also apply for transaction data and other related information of the minor user’s e-payment account.

Article 8

Upon receiving the user’s payment instruction made in a manner designated by the Company, the Company should reconfirm with the payer before completing the payment transaction.

The preceding provision regarding payment instruction and reconfirmation may be inapplicable to the following business concerning collection and payment for actual transaction as an agent, if the Company and the user have agreed in advance according to the safety design set out in Subparagraph 3 or 4 of Paragraph 1, Article 7 of the “Regulations Governing the Standards and Security Management Criteria of Information System for Electronic Payment Institutions”, and the amount of a single transaction is limited to NT$50,000, while the daily cumulative transaction amount is limited to NT$100,000 and the monthly cumulative transaction amount is limited to NT$200,000:

Upon receiving the user’s payment instruction made in a manner designated by the Company, the Company should reconfirm with the payer before completing the payment transaction.

The preceding provision regarding payment instruction and reconfirmation may be inapplicable to the following business concerning collection and payment for actual transaction as an agent, if the Company and the user have agreed in advance according to the safety design set out in Subparagraph 3 or 4 of Paragraph 1, Article 7 of the “Regulations Governing the Standards and Security Management Criteria of Information System for Electronic Payment Institutions”, and the amount of a single transaction is limited to NT$10,000, while the monthly cumulative transaction amount is limited to NT$30,000:

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