It is important to select the appropriate method and process for small payment monetization depending on which carrier you use among SKT, KT, and LGU, Korea’s leading telecommunications companies.
Let’s find out what we need to prepare and what are the ways in which each carrier is going to cash in on small payments.
Check the micro-payment limit
Before proceeding with the small payment monetization (소액결제 현금화), you need to understand how much cash you need right now and how much my small payment limit is set. The reason is that the money you need right now is 2,000,000 won, but if the small payment limit is 300,000 won, it will be difficult to meet all the amounts you need even if you proceed with the small payment monetization.
How to check the micropayment limit for all carriers: You can check and set the micropayment limit through customer center consultation by calling 114 using your mobile phone.
How to check the micropayment limit for SKT Telecom: You can check and adjust the micropayment limit on the menu -> My Page -> Check the micropayment limit tab by accessing the Tworld app.
How to check the micropayment limit for KT Telecom: You can check and set the micropayment limit on the menu -> micropayment tab -> micropayment limit by accessing the MyKT app.
How to check LG Telecom’s micropayment limit: You can check the regular payment limit by accessing your U+ application.
Method of monetization of micropayments
Small payment monetization refers to the purchase of content such as gift certificates using the limit of use of each carrier or the purchase and resale of goods using small payments at online shopping malls. In this process, a 10% to 15% fee is incurred for gift certificates, and a similar fee rate is applied when reselling goods. To use a small payment, there must be a small payment limit and it can be used within the limit of use.
Legal Issues and Precautions for Small Settlements Cash-in
Legal problems can arise if you use illegal micropayments. In addition, if you exploit this and use it to steal your name, you can be punished by accessing the Information and Communication Act, so you should use it only under your own name before using it and only through a normal route.
