A meeting was held to review electronic financial operators' internal control duties, including management of sub-payment gateway operators, financial soundness and reporting of terms and conditions. The Financial Supervisory Service explained revised supervisory rules, including disclosure of merchant fees and obligations to assess sub-PGs, and urged the industry to respond in practice.

The Korea Fintech Industry Association said it held the first electronic finance industry consultative seminar of 2026 with the Financial Supervisory Service on Tuesday at the Korea Financial Investment Association’s education institute in Seoul.

The seminar was arranged to brief the industry on key supervisory matters such as payment risk management, business guidance standards and the drafting and reporting of electronic financial transaction terms and conditions.

Toss Payments and the FSS electronic finance oversight team presented measures to manage payment risks.

Ahn Myung-hyun (안명현), an executive director at Toss Payments, introduced screening for vendors, review procedures between risk management and anti-money laundering (AML) departments, and systems for submitting and updating information on sub-merchants, under the theme of operational cases for managing secondary PG sub-malls. He also shared cases involving checks on sub-malls’ AML compliance, external management of settlement funds, and re-inspections of restricted business categories.

The FSS electronic finance oversight team said the revised electronic finance supervisory rules specify electronic financial operators' obligation to disclose merchant fees and introduce an obligation for prepaid operators and top-tier PG firms to assess sub-PGs.

The FSS sound management team explained compliance requirements under the business guidance standards and procedures for requesting measures against electronic financial operators that fail to meet the standards. It also outlined capital increase obligations and business report submission requirements for small electronic financial operators.

The payments and settlement systems team said firms should check whether the drafting and reporting process for electronic financial transaction terms is subject to prior or post reporting, required items to be included, and whether unfair clauses are included.

Koscom introduced a system for providing pseudonymised data by public institutions, scheduled to take effect in September, and support procedures at the Pseudonymised Data One-Stop Support Center. The center supports application drafting, review of the legal basis for processing, connecting to providing institutions, and data combination and analysis.

Kim Jong-hyun (김종현), chairman of the Korea Fintech Industry Association, said the expansion of the payments market and increasingly complex transaction structures have made risk management and internal controls key tasks that determine trust in the industry. He said the association would support communication between member companies and financial authorities so the industry can respond to institutional changes.