Merge Point, Partial Refund for Some Online Applicants... Resumption Notice on the 17th

Refund confirmation posted on the Merge Point victims' group cafe.

[Asia Economy Reporter Lim Chun-han] Merge Plus announced that the second round of refunds was processed on the 14th at around 9:20 PM for online refund applicants, and that refunds will resume on the 17th.

According to the Merge Point victims' group cafe on the 15th, some users posted that they have received refunds. Mr. A shared that he had a Merge Money balance of about 2.26 million won, and approximately 1.69 million won was deposited. He said, "I applied for a refund at midnight on the 12th. I wasn't expecting anything, but the deposit was made," adding, "It seems to be proceeding sequentially, so if you wait, there should be good news."

However, there were also many posts from users who applied for refunds but have not yet received deposits. Mr. B stated, "I applied online at 10 PM on the 11th, the first day, but 960,000 won has not been deposited yet." Some users continue to demand refunds at the Merge Point headquarters even after the refund announcement.

Merge Point explained, "We processed refunds promptly for waiting customers, but future refunds will be made after verifying recipients, excluding weekends and holidays, and prior notice will be given before payment," adding, "Currently, unrelated information and discrepancies are delaying recipient verification. Please double-check that the information is accurate before submitting a refund request, as mismatches in account and bank information may delay the refund process."

On the afternoon of the 13th, subscribers demanding refunds gathered at the Merzi Point headquarters located in Yeongdeungpo-gu, Seoul.
[Image source=Yonhap News]

Earlier, Merge Point gained great popularity by offering unlimited 20% discounts at large supermarkets, convenience stores, and coffee shops, but suddenly stopped selling points and drastically reduced places where points could be used. Merge Plus stated, "We accepted the relevant authorities' guidance that the Merge Plus service can be considered a prepaid electronic payment method, so for the time being, we will unify and reduce operations to only the restaurant business category, which is a lawful service form," adding, "We will expedite the electronic financial business registration process to completely resolve administrative procedure issues and provide a more scalable service within the fourth quarter." As a result, hundreds of users demanding refunds gathered at Merge Plus headquarters, fiercely protesting and causing confusion, with police even dispatched to the scene.