G-Pay
Payment Service
This solution is essential for overseas stores targeting the Korean market, particularly those that do not have a local entity in Korea, making it difficult to implement payment solutions like card payments or bank transfers, as well as handle marketing and customer service. These challenges hinder business expansion and revenue growth.
By providing the online payment solution of KG Inicis, #1 payment gateway (PG) service provider in Korea, we enable consumers in Korea to make payments on overseas online stores in the same way and using the same methods as they would when shopping on domestic stores. This ensures the best payment convenience for consumers.
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Seller Benefits with G-Pay Service
By automatically offering the more convenient and secure G-Pay service to consumers purchasing from your online store, you can enhance the convenience and trustworthiness of your store.
Even without a Korean business registration, you can use the online payment platform of KG Inicis, Korea’s #1 Payment Gateway provider, just like local online store operators in Korea.
Since a Korean business registration is not required, there are no tax issues within Korea. More reasonable and affordable merchant fees compared to local businesses in Korea (Credit card 4.5%, Bank transfer 1.8%, Virtual account 1,000 KRW per transaction). (The fee rate may increase or decrease depending on the merchant's industry and sales volume.)
There are no additional fees other than the credit card merchant fee and the escrow fee (1.75% of monthly sales limit, paid once a year).
By providing the highest quality PG platform from KG Inicis, the #1 PG company in Korea, customers can use not only credit cards but also bank transfers and mobile payments, maximizing payment convenience and significantly boosting your sales.
By being listed on G-Pay’s open market site, you can advertise your products on portal sites like Naver and Daum, as well as benefit from marketing opportunities through partnerships with credit card companies, enabling maximum advertising effectiveness and increased sales.
To enhance the convenience for international sellers, we have minimized unnecessary procedures with a simple registration process and straightforward documentation.
Our experienced staff provide quick and accurate technical support to ensure you can start using the service as soon as possible.
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Buyer Benefits with G-Pay Service
G-Pay service allows Korean consumers to make secure payments using a familiar method, as it provides a Korean online payment platform instead of an international online payment platform when ordering from overseas online stores.
You can use the service with just a simple click, without any additional fees or membership registration.
Since the payment is processed through the payment gateway of KG Inicis, the #1 online PG company in Korea, there are no additional overseas transaction fees (such as the 1% overseas usage fee for Visa/MasterCard) or currency conversion fees (approximately 1%), unlike using international online payment platforms. This results in a basic price reduction effect of 2% compared to using overseas payment systems.
Just like with Korean online stores, all types of online payment methods, including credit cards, bank transfers, and mobile payments, are available. Additionally, installment payments (including interest-free installments) are also supported, allowing buyers to choose the payment method that best suits their situation.
The escrow service provided automatically by KG Inicis and G-Pay ensures a safer and more secure purchasing experience. In case of any post-purchase issues (such as exchanges, refunds, returns, complaints, etc.), you can use G-Pay’s post-sales support service, allowing you to shop with peace of mind.
On G-Pay’s open market site, you can easily and conveniently search for products and enjoy more affordable shopping by using marketing services such as reward discounts from affiliated card companies.
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How is it different from the traditional purchasing method?
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Work Process
How to Apply
Service
STEP 1
Access the KG Inicis application page and apply for the service.
Go to apply for KG Inicis service
Visit g-pay.co.kr, click on Merchant Registration Guide / Merchant Registration from the top menu, select the applicable membership type, enter the required information, and complete the online registration process.
STEP 2
Eligibility Review
Website completion status, business information, business policies, list of products for sale, and instructions for escrow enrollment, etc.
Along with KG Inicis, we review the site’s completeness, the items for sale, and the authenticity of the business.
STEP 3
Notification of review results
Send individual contract. (fees, settlement cycle, etc.)
Upon approval, individual contracts, necessary documents, and information related to service usage will be sent to the merchant’s email.
STEP 4
Document submission / contract completion
Upon document submission, payment module issuance and payment service contract completion.
Upon documents received, we verify their accuracy and authenticity. Upon completion of this process, we notify the contract's completion and send the integration guide and module required for setting up and linking the payment platform.
STEP 5
Development and Implementation
Payment module integration and live transaction application.
The merchant integrates the payment module, and once the integration is complete, it is applied to live transactions. If the merchant faces difficulties with the payment module integration, we provide support.
Requirements
for
Registration
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Membership Requirements
Individual Member
An individual aged 14 or older with foreign nationality seeking to sell physical products.
Business Member
An individual or corporate business entity with a foreign business registration certificate seeking to sell physical products.
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Required Documents
Individual Member
G-Pay Membership Agreement, a copy of the passport (citizenship / permanent residency), and a copy of the overseas bank account statement in the subscriber's name (such as a bank statement or any document that can verify the account holder's name).
Business Member
G-Pay Membership Agreement / a copy of Overseas Business Registration Certificate / a copy of the Representative's Passport (citizenship certificate/permanent residence / passport) / a copy of the overseas bank account in the name of the business or representative at the business location (e.g., bank statement or any document proving account ownership under the applicant's name).
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Where to Submit
Address
G-Pay
Global Seller Business Team
B1, Danong Bldg., 24-Gil 5, Songpadaero, Songpa-Gu,
Seoul, South Korea #05831
Inquiry
+82-70-0000-0000 (To be changed)
contact@texantra.com