Information on Customer Due Diligence

In accordance with the Act on Reporting and Using Specified Financial Transaction Information, Google Payment Korea (“GPK”) is obligated to conduct Customer Due Diligence (“CDD”) on certain of its customers, including Google Play developers (“Developers”).

CDD involves making reasonable efforts to, for example, confirm and verify the customer’s or Developer’s identification information, to confirm the purpose of certain transactions and/or to determine an ultimate beneficial owner(“UBO”), in order to prevent the misuse of GPK’s payment services for illegal activities, including money laundering.

For the purpose of CDD, individual customers may be asked to provide certain identifying information, such as their name and Resident Registration Number, as well as a copy of the Real Name ID (e.g. Resident Registration Card, etc.), and corporate customers may be asked to provide certain identifying information, such as corporate name and Business Registration Number,  a copy of the Real Name ID (e.g. Business Registration Certificate), a Corporate Registration Certificate.  Also, information about any UBO (together with supporting UBO-related documents/materials, such as  shareholder registry) may be requested as well. In addition, if necessary, GPK may request that its customers and Developers provide additional information, such as the purpose of transaction or source of funds, etc.  

Note that the above-described information and documents are not exhaustive and may differ depending on the type of customer, transaction, etc.

In accordance with the Act on Reporting and Using Specified Financial Transaction Information, any information that the Company collects during CDD will only be collected, used and processed for the purpose of Anti-Money Laundering, and if it is impossible to fulfill the CDD requirements due to the customer’s or Developer’s refusal to provide relevant information, etc., GPK is obligated to terminate the transaction with the customer or Developer.  Therefore, to prevent any disadvantage to our customers and Developer, we would like to ask for your understanding and cooperation.

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