Terms of Service


1. Purpose

These Terms of Use are created and maintained by The X Engineering Company (referred to below as “X Engineering,” “we,” and “us”) in order to prescribe that your use of our site(http://www.spendwallet.com), Spendwallet mobile application as well as Spendwallet, which is a physical electronic wallet that combines all types of cards, is subject to these Terms of Use and all applicable laws, rules and regulations.

2. Definition

  1. The definition of terminology used in this term is following:
    1. We operate the following sites
      • www.xengineering.co

        • www.spendwallet.com

        • any other sites we provide in the future after notification
    2. We sell the following products
      • Spendwallet (offline electronic payment device)
      • any other products we provide in the future after notification
    3. A product status of Pre-Order means that the product is currently in production, or the process of being created. It can be reserved or pre-ordered but will not ship out to you until it arrives into our warehouse.
    4. Member means a person who signs up as a Member by creating an account at Spendwallet website or mobile application and accepting these Terms of Use and Privacy Policy.
    5. Buyer means a Member who buys Spendwallet made available for sale on the Sites and retail shops.
    6. Email means electronic mail address that member enrolled and we approved for the purpose of identifying the member and using the service and product.
    7. Spendwallet, which is developed by X Engineering, is the offline electronic payment device through which buyers can store the magnetic striped cards, make a payment, and accumulate points.
    8. Card reader, one of products that is delivered along with Spendwallet, is a device used for storing the magnetic cards on Spendwallet.
    9. A payment terminal, also known as a point of sale terminal, is a device which interfaces with payment cards to make electronic funds transfers.
    10. A mobile communication device is wireless computing device that can install Spendwallet mobile application.
    11. Bluetooth is a wireless technology for exchanging data over short distances.
    12. Card registration is a process to store the magnetic striped cards on Spendwallet through card reader.
    13. Payment is a service to make a payment with the cards registered on Spendwallet.
    14. Accumulation is a service to earn points or mileage for rewards.
    15. Barcode Service is a mobile card service for payment and accumulation not through Spendwallet but through Spendwallet mobile application.
    16. Charging is to recharge battery for the use of Spendwallet.
    17. Malfunctioning product means Spendwallet that is not in working order. It can be divided in two parts.
      • Inferior product means Spendwallet that is not in working order due to its functional problem.
      • Damaged product means Spendwallet that is broken, cracked, or scratched due to buyer’s intention or negligence.
    18. Location information means information, which is collected according to Framework Act on Telecommunication, about the location where objects with mobility or individual stayed for a certain period of time
  2. The terminology that is not defined here will follow related statute.

3. Term efficiency

  1. Your access to and use of the Service is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who access or use the Service.
  2. We reserve the right, at our sole discretion, to modify or replace these Terms at any time. If a revision is material we will try to provide at least 30 days notice prior to any new terms taking effect. What constitutes a material change will be determined at our sole discretion.
  3. Our failure to enforce any right or provision of these Terms will not be considered a waiver of those rights. If any provision of these Terms is held to be invalid or unenforceable by a court, the remaining provisions of these Terms will remain in effect. These Terms constitute the entire agreement between us regarding our Service, and supersede and replace any prior agreements we might have between us regarding the Service.
  4. By accessing or using the Service you agree to be bound by these Terms. If you disagree with any part of the terms then you may not access the Service.
  5. By continuing to access or use our Service after those revisions become effective, you agree to be bound by the revised terms. If you do not agree to the new terms, please stop using the Service.

4. Service

We provide following services:

  1. Payment Service: Buyer can store the magnetic striped cards, make a payment and accumulate points with Spendwallet - an offline electronic device - that is purchased at Spendwallet website or approved stores.
  2. Mobile Card Service: Through Spendwallet mobile application, buyer can use the mobile card service with which buyer can make a barcode card payment and accumulation.


5. Service Use Contract

  1. Buyer can buy Spendwallet either at our website or at approved stores. In case the use of Spendwallet is restricted due to technical issue, we notify customer of the issue via our website or email.
  2. Spendwallet purchased at affiliated company follows the terms established by the affiliated company. Thus, you are entitled to the service provided not only by us but also by the affiliated company.

6. Registration

  1. By registering here and creating your account, you can access different services that are offered by us without having to register for each service separately. If a service you wish to subscribe to has additional terms and conditions, you will be asked to accept these separately.
  2. You agree that:
    1. you will keep your username and password safe, and won’t share them with anyone.
    2. you will not pass yourself off as someone else or create multiple, false accounts.
  3. If you breach these or any of our other terms and conditions we reserve the right to close your account, if we do so, we may close all accounts you have open in your name.
  4. You can update your personal details by accessing your account and making any necessary changes; this will update your details across all services that you have subscribed to. You are responsible for any disadvantages occurred by personal details that are not accurately updated.

7. Purchase

  1. When you purchase a Product, an item sold by Spendwallet, Inc. or any other Spendwallet entity that sells products, clicking the “Complete Order” button constitutes an offer to buy the Products. Your purchase is not complete until we email you to confirm the transaction. We reserve the right to reject your offer and not conclude a contract with you.
  2. You are responsible for any disadvantages occurred by personal details you entered in regard to payment.
  3. If you wish to cancel your order before delivery or change the quantity of the Products purchased or the delivery address, please contact us as soon as possible. Once that window closes, we cannot make changes to your order, although you may be eligible to make returns as outlined in these Terms.

8. Returns

  1. Most Products may be returned to us, but certain Products are final sale and may not be returned unless defective, as set forth in the Return Policy and the offer’s deal terms.
    Spendwallet takes legal title to returned Products only after the Products arrive and are processed at the designated returns destination. Spendwallet reserves the right, but has no obligation, to issue a refund without requiring a return. In this situation, Spendwallet does not take title to the returned Products.
  2. For purchases that qualify for a refund, Spendwallet will issue a refund within 14 days after processing of a properly returned shipment. If stated, applicable shipping charges and restocking fees may be deducted from your refund.
  3. We reserve the right to refuse to issue a refund and to recover the cost of the return delivery from you in the event that any Products you return: (i) are not eligible for return, in accordance with the Spendwallet Return Policy or the offer’s deal terms, or (ii) are found to have suffered damage after delivery to you or have been misused or used other than in accordance with the Product directions or instructions

9. Card Registration

  1. You can store following cards on Spendwallet
    1. Credit card
    2. Debit card
    3. Point card
    4. Membership card
    5. Barcode type of card
    6. Any magnetic striped card
  2. You can store cards by following steps below
    1. Install Spendwallet mobile application on smartphone
    2. Connect Smartphone and Spendwallet via Bluetooth
    3. Connect Spendwallet reader to smartphone’s headphone jack
    4. Swipe magnetic striped cards through Spendwallet reader
  3. You cannot enroll a card that is not magnetic striped type.

10. Usage Restriction

In addition to other restrictions set forth in these Terms of Use, You agree that:

  1. We reserve the right at all times (but will not have an obligation) to remove or refuse to suspend or terminate users. We also reserve the right to access, read, preserve, and disclose any information as we reasonably believe is necessary to (i) satisfy any applicable law, regulation, legal process or governmental request, (ii) enforce the Terms, including investigation of potential violations hereof, (iii) detect, prevent, or otherwise address fraud, security or technical issues, (iv) respond to user support requests, or (v) protect the rights, property or safety of Spendwallet, its users and the public.
  2. You may not do any of the following while accessing or using the Products and the Services: (i) fraudulent use of your Spendwallet after intentionally enrolling other’s credit or debit card; (ii) improper use of other’s Spendwallet (iii) interfere with, or disrupt, (or attempt to do so), the access of any user, host or network, including, without limitation, sending a virus, overloading, flooding, spamming, mail-bombing the Services, or by scripting the creation of Content in such a manner as to interfere with or create an undue burden on the Services.

11. Spendwallet Payment/Accumulation

  1. As you bring your Spendwallet near to the POS and push SPEND logo button, you can make a payment or accumulate points.
  2. With the help of the LED display as well as the left and right button, you may select your preferred card on Spendwallet and make a payment or accumulate points.

12. Recharge

  1. When Spendwallet’s battery goes below 10%, the LED display on Spendwallet will inform you of the need for recharging.
  2. When sign for recharging is displayed, start recharging by connecting micro 5-pin USB cable to Spendwallet.
  3. During recharge, the status is shown on LED display.
  4. When recharge is completed, LED display is turned off and Spendwallet is ready to be used.


13. Limitation of Liability



14. Controlling Law and Jurisdiction

  1. These Terms and any action related thereto will be governed by the laws of the Republic of Korea without regard to or application of its conflict of law provisions or your state or country of residence.
  2. All claims, legal proceedings or litigation arising in connection with the Services will be brought solely in the courts located in the Republic of Korea and you consent to the jurisdiction of and venue in such courts and waive any objection as to inconvenient forum.

15. Contact Information

If you have any questions about these Terms, or about the content, information, or services on this website, you may contact us at contact@xengineering.co

Privacy Policy

This Privacy Policy (the “Policy”) explains the way of treatment of the information which is provided or collected in the websites on which this Policy is posted. In addition the Policy also explains the information which is provided or collected in the course of using the applications of the Company which exist in the websites or platforms of other company.
Through this Policy, the Company regards personal information of the users as important and inform them of the purpose and method of Company’s using the personal information provided by the users and the measures taken by the Company for protection of those personal information.

This Policy will be effective on the 16th day of December, 2015 and, in case of modification thereof, the Company will make public notice of it through posting it on the bulletin board of Company’s website or individual notice through sending mails, fax or e-mails).

1. Information to be collected and method of collection

  1. Personal information items to be collected
Personal information items to be collected by the Company are as follows:
    1. Information provided by the users:
      • Name, address, telephone number, and email address
- Payment information including account number and card number
      • Delivery information including delivery address, name and contact information of recipient
      • Information of purchase
    2. Information collected while the users use services:
      • Information of device location including specific geographical location detected through GPS, Bluetooth or Wi-Fi (limited to the region permissible under the laws)
      • Log data, use time, search word input by users, internet protocol address, cookie and web beacon
      • Preference, advertisement environment, visited pages regarding service use of users
    3. Method of collection. The Company collects the information of users in a way of the followings:
      • webpage, mobile application, written form, fax, telephone calling, e-mailing, tools for collection of created information

2. Use of collected information

The Company uses the collected information of users for the following purposes:

  1. Member management and identification
1. To detect and deter unauthorized or fraudulent use of or abuse of the Service
  2. Performance of contract and service fee settlement regarding provision of services demanded by the users
  3. Improvement of existing services and development of new services
1. Making notice of function of company sites or applications or matters on policy change
  4. To make statistics on member’s service usage, to provide services and place advertisements based on statistical characteristics
  5. To provide information on promotional events as well as opportunity to participate
  6. To comply with applicable laws or legal obligation
  7. Use of information with prior consent of the users (for example, utilization of marketing advertisement)
    The Company agrees that it will obtain consent from the users, if the Company desires to use the information other than those expressly stated in this Policy.

3. Period for retention and use of personal information

In principle, the Company destructs personal information of users without delay when: the purpose of its collection and use has been achieved; the legal or management needs are satisfied; or users request: Provided that, if it is required to retain the information by relevant laws and regulations, the Company will retain member information for certain period as designated by relevant laws and regulations. The information to be retained as required by relevant laws and regulations are as follows:

  1. Record regarding contract or withdrawal of subscription: 5 years (The Act on Consumer Protection in Electronic Commerce)
  2. Record on payment and supply of goods: 5 years (The Act on Consumer Protection in Electronic Commerce)
  3. Record on consumer complaint or dispute treatment: 3 years (The Act on Consumer Protection in Electronic Commerce)
  4. Record on collection/process, and use of credit information: 3 years (The Act on Use and Protection of Credit Information)
  5. Record on sign/advertisement: 6 months (The Act on Consumer Protection in Electronic Commerce)
  6. Log record of users such as internet/data detecting the place of user connection: 3 months (The Protection of Communications Secrets Act)
  7. Other data for checking communication facts: 12 months (The Protection of Communications Secrets Act)

4. Procedure and method of destruction of personal information

In principle, the Company destructs the information immediately after the purposes of its collection and use have been achieved without delay: Provided that, if any information is to be retained as required by relevant laws and regulations, the Company retain it for the period as required by those laws and regulations before destruction and, in such event, the personal information which is stored and managed separately will never be used for other purposes. The Company destructs: hard copies of personal information by shredding with a pulverizer or incinerating it; and delete personal information stored in the form of electric file by using technological method making that information not restored.

5. Users right to access and option

The users or their legal representatives, as main agents of the information, may exercise the following options regarding the collection, use and sharing of personal information by the Company:

  1. exercise right to access to personal information;

  2. make corrections or deletion;

  3. make temporary suspension of treatment of personal information; or
  4. request the withdrawal of their consent provided before

If, in order to exercise the above options, you, as an user, use the menu of ‘amendment of member information of webpage or contact the Company by using representative telephone or sending a document or e-mails, or using telephone to the responsible department (or person in charge of management of personal information), the Company will take measures without delay: Provided that the Company may reject the request of you only to the extent that there exists either proper cause as prescribed in the laws or equivalent cause.

6. Security

The Company regards the security of personal information of uses as very important. The company constructs the following security measures to protect the users’ personal information from any unauthorized access, release, use or modification:

  1. Technical measures
    1. Utilize security servers for transmitting encryption of personal information
    2. Take measures of encryption for confidential information
1. Install and operate access control devices and equipments
    3. Establish and execute internal management plan
  2. Managerial measures
    1. Appoint a staff responsible for protecting personal information
    2. Provide education and training for staffs treating personal information
    3. Establish and execute internal management plan
    4. Establish rules for writing passwords which is hard to be estimated
    5. Ensure safe storage of record of access to personal information processing system
    6. Classify the level of authority to access to personal information processing system

7. Cookies, Beacons and Similar Technologies

The Company may collect collective and impersonal information through ‘cookies’ or ‘web beacons’. Cookies are very small text files to be sent to the browser of the users by the server used for operation of the websites of the Company and will be stored in hard-disks of the users’ computer. Web beacon is a small quantity of code which exists on the websites and e-mails. By using web beacons, we may know whether a user has interacted with certain webs or the contents of email.
These functions are used for evaluating, improving services and setting-up users’ experiences so that much improved services can be provided by the Company to the users. The items of cookies to be collected by the Company and the purpose of such collection are as follows:

  1. strictly necessary cookies
  2. performance cookies
  3. functionality cookies
  4. targeting cookies or advertising cookies
    The users have an option for cookie installation. So, they may either allow all cookies by setting option in web browser, make each cookie checked whenever it is saved, or refuses all cookies to be saved: Provided that, if the user rejects the installation of cookies, it may be difficult for that user to use the parts of services provided by the Company.

8. Modification of Privacy Protection Policy

The Company has the right to amend or modify this Policy from time to time and, in such case, the Company will make a public notice of it through bulletin board of its website (or through individual notice such as written document, fax or e-mail) and obtain consent from the users if required by relevant laws.

9. Responsible department of Company

The Company designates the following department and person in charge of personal information in order to protect personal information of customers and deal with complaints from customers:
Department responsible for privacy protection and customer service:
Name: Sam Jeon
E-mail: hey@spendwallet.com
Phone: 070-8252-4295
The latest update date: 16th December 2015