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Category Title
General Questions What is cross border payment?
Cross border payment is a payment service which allows merchants to sell across borders, anywhere around the world.
General Questions MDR
Merchant Discount Rate (MDR) is the rate charged to a merchant by service providers for using payment service.
General Questions Transaction Fee
Transaction fee is a processing fee for each successful transaction regardless of its amount.
General Questions Refund Fee
Refund fee is a processing fee for each refund transaction regardless of its amount. “refund” is a transaction which has been cancelled after it has been acquired.
General Questions Chargeback Fee
Chargeback fee is a fee imposed to the merchant when the buyer files a chargeback with his/her credit card issuer.
General Questions Wire Fee
Wire fee is a bank processing fee when sending or receiving settlement fund.
General Questions Rolling Reserve (R/R)
A rolling reserve is a risk management strategy to protect the merchant and CyrexPay from potential loss due to chargebacks. A portion of the volume processed will be secured to cover for the potential business risk relating to chargebacks.
General Questions Billing Descriptor
A billing descriptor is simply the merchant name that appears on the line item contained within a cardholder’s monthly credit card statement. It is used by the credit card customer to identify who a payment was made to on a particular transaction.
General Questions Overseas Acquirer
A financial institution that is authorised by a Payment Scheme to enable the use of a Payment Method by accepting submitted Transactions, routing these to the Payment Scheme or Issuers and collecting and remitting the resulting funds to us or directly to the Merchant.
New Application Is it possible to issue additional Merchant ID?
Yes, You may request for additional merchant ID without any additional fee. Please contact application@cyrexpay.com for further information.
New Application Is it possible to submit application without having our own website?
You may submit application even if the website is not fully ready. But it is required by acquirer to check the merchant category through merchants website.
New Application What if the director is underage?
Under aged Directors are required to provide original copy of a legal representative consent form with the application. Please note that the settlement can only be wired to directors bank account.
New Application What if the Director has a bad credit history.
Unfortunately, we are unable to accept applications for merchants with director who has a bad credit history.
New Application How do I know if my application is approved?
If you have submitted all the required documents, you will receive a call from us within 2 weeks for the result of the application.
New Application What if my application gets rejected?
If the payment service you seek does not comply with overseas acquirer’s regulations, then the application will be rejected.
In this case, we are unable to support our payment service but we will continue to try our best in order to find the best solution for our merchants.
Change payment options What is the procedure if the owner change?
New merchant application is required if the director is changed. Our payment service will be supported under original director until the new merchant application is confirmed.
Change payment options What if our business registration number has changed?
New merchant application is required for re-registered businesses.
Change payment options How to change the bank account to receive settlement.
Please contact us for a amendment to contract.
Change payment options Is it possible for the agreement to be terminated before the termination date?
We may terminate the merchant agreement if the merchant experience excessive chargeback and provide goods/services that is different to what is informed during merchant application.
Change payment options How to discontinue the service
Please contact our customer center application@cyrexpay.com or 0082-2-555-0725, Service will be discontinued after signed copy of termination agreement is received by post.
Merchant admin What is the URL for merchant administration page?
Korean https://kr.cyrexpay.com/
English https://pg.cyrexpay.com/
Merchant admin How can I log-in to administration page?
Please go to merchant administration page or go to CyrexPay website and click “go” Log-in by entering merchant ID and Password provided by CyrexPay.
Merchant admin What if I want to change our URL?
Please contact our customer center application@cyrexpay.com or 02-555-0725, before changing to a new URL.
PayPal How can I apply for PayPal payment service?
Please select PayPal for the payment method in the merchant agreement.
PayPal What are the requirements for using PayPal?
Application procedure and the assessment standards are equivalent to other payment methods. If you need further information, please contact application@cyrexpay.com or 0082-2-555-0725.
PayPal Is the PayPal payment service available to accept payments from any PayPal users?
PayPal payment service provided by CyrexPay is for cross-border transactions. Therefore, as long as the customer is located anywhere other than where the merchant is located, then they are able to use their PayPal account to make payments.
PayPal Is the PayPal payment service available on mobile?
Yes, PayPal payment is also available in mobile.
PayPal How much is PayPal service fee?
Please contact application@cyrexpay.com or 0082-2-555-0725.
PayPal What is the settlement period for PayPal payment service?
Please contact application@cyrexpay.com or 0082-2-555-0725.
PayPal How can I be protected by PayPal’s Seller Protection program?
PayPal Seller Protection covers eligible transactions in case of two types of buyers complaints which are “unauthorized transaction” and “Item not received”. In the case of these dispute, CyrexPay will support merchant and communicate with PayPal to resolve the dispute.​