(1) Any financial company or electronic financial business entity that issues a prepaid electronic payment means shall, upon a request by its holder, refund the balance recorded on such prepaid electronic payment means pursuant to a prior agreement. <Amended on May 22, 2013>
(2) Any financial company or electronic financial business entity shall enter, in the terms and conditions, the agreement on the refund under paragraph (1) and the fact that the entity will fully pay the balance recorded on the prepaid electronic payment means in any of the following cases: <Amended on May 22, 2013; Sep. 14, 2023>
1. Where the prepaid electronic payment means becomes unavailable because it is impracticable for a chain store to supply goods or services due to an act of God, etc.;
2. Where a chain store cannot supply goods or services due to any defect in the prepaid electronic payment means;
3. Where the balance recorded on the prepaid electronic payment means falls below a fixed rate. In such cases, the fixed rate shall not be less than 20/100.
4. Where chain stores that can use prepaid electronic payment means unfavorably for users are reduced or the terms and conditions of use of prepaid electronic payment means are changed; provided, this shall not apply where a chain store is closed, the term of a chain contract expires, or any other good causes prescribed by Presidential Decree exists.