Abolition of the business of issuing

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1. "Discontinuance of business of issuance" means the case where both issuance and collection of prepaid means of payment are discontinued.

 

 

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2. Points to note for refund procedures (Article 20, Paragraph 1 of the Funds Settlement Act)

When conducting refunds, the following items must be posted in a public notice in a daily newspaper or electronically on the company's website, as well as in a publicly accessible location at all business offices or offices. If the company issues points through a game application, it is also necessary to post the information on the game application or on the company's website.

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(1) A statement that such refunds will be made
(2) Name, trade name, or title of the issuer of the prepaid means of payment
(3) Type of the prepaid means of payment
(4) Holders of prepaid means of payment who do not make such request should be excluded from the procedure for such refund.
(5) Holders of prepaid means of payment who do not make such request should be disqualified from the procedures for such refunds.
(6) The contact information of the business office or office that will respond to inquiries regarding refunds.
Contact information of the business office or office to which inquiries concerning refunds should be addressed
(7) The method of application and method of refund
(8) Other matters that should be referred to in connection with the procedures for refunds.

 

 

 

3. Flow of refund procedures

(1) Make a prior consultation with your local finance bureau to implement refund procedures.

 

(2) Submit a report on refund procedures. Attached documents include a draft of the prior publicity announcement, a draft of the public notice, a draft of the posting on the company's website, and a draft of the posting on the game application.

 

 

(3)On the day following the date of abolition of prepaid means of payment, a public notice will be posted, and information regarding refund procedures will be posted on the company's website and on the game application. 

 

 

(4)Submit a Notification of Abolition of Issuance Business, etc. and a Notification of Public Notice of Refunds.

 

 

(5)Refunds are made to customers who request refunds during the refund procedure period.

 

 

(6)Submit a refund completion report and change notification after the refund completion date.

 

 

(7)If you wish to recover the issue deposit, submit an application for approval of withdrawal, etc. of the issue deposit to recover the issue guarantor.

 

 

 

4. Publicity of refund procedures

It is recommended that approximately 60 days be allowed from the date of decision to abolish prepaid means of payment to the date of abolition of issuance operations. In addition, it is recommended that a longer period (90 days or more) be secured for refunds, although the statutory period is 60 days or more.

 

 

 

5. Administrative work for refund procedures

With regard to refund procedures, prior consultation with the local finance bureau and diligent communication with the local finance bureau are required to prepare a report on refund procedures, a notification of discontinuation of issuance business, a notification of public notice of refund, and a report of completion of refund, and to post materials in compliance with the Funds Settlement Law. The authorities also closely monitor the refund procedure and frequently warn or point out when the contents of the public notice or the company's website are different from the contents of the report. It is very difficult for a company to implement the procedures on its own, considering the administrative work required to prepare the notification, communicate with the authorities, and post the material in compliance with the Funds Settlement Act. We recommend that you ask an experienced professional to handle the refund procedure. Our firm offers a fee of 1,000 $ (excluding tax) from preliminary consultation to completion of refund procedures, so please do not hesitate to contact us.