Wallet & Virtual Currency Terms

1.1 1.1 Scope of Application

The Quibit Wallet is a unified digital balance system that operates across all four (4) Quibit applications:

Quibit — Social networking, premium features, AI-powered services, job posting, and blog creation

Kha — Dating platform with premium matching, profile boosts, and enhanced discovery features

QuiTalk — Real-time chat with AI conversation credits, app-to-phone calling, and channel subscriptions

QuizCoin — Gamified quiz platform with in-game purchases, power-ups, and reward redemption

1.2 1.2 Unified Balance

Your Quibit Wallet balance is shared across all four applications. A single top-up replenishes your balance for use in any app. Spending in one app reduces your overall available balance.

1.3 1.3 Relationship to Other Agreements

These Wallet Terms supplement and are incorporated into the Quibit Terms of Service. In the event of a conflict between these Wallet Terms and the Terms of Service, these Wallet Terms shall prevail with respect to wallet and virtual currency matters. Please also review our Privacy Policy for information on how transaction data is collected and processed.

2.1 2.1 Wallet Activation

Your wallet becomes active upon successful account creation and email or phone verification. Initial balance is zero (0) Quibit Credits.

One wallet per Quibit account — multiple wallets are not permitted

Wallet is tied to your unique user ID and cannot be transferred to another account

Wallet access requires active authentication (valid session or JWT token)

Suspended or terminated accounts will have wallet access revoked

2.2 2.2 Identity Verification

For certain transaction thresholds or regulatory requirements, additional identity verification may be required before top-up or withdrawal:

Basic verification: Email and phone number confirmation (required for all users)

Standard verification: Government-issued ID upload (required for cumulative top-ups exceeding ₩500,000)

Enhanced verification: Additional documentation as required by South Korean financial regulations for high-value transactions

2.3 2.3 Linking Payment Methods

To fund your wallet, you must link at least one supported payment method. Currently supported methods include:

Korean bank transfer (primary method) — direct deposit via supported domestic banks

International wire transfer — available for users outside South Korea with additional processing time

Future payment methods (credit/debit cards, mobile payment) will be announced as they become available

3.1 3.1 Bank Transfer (Primary Method)

Bank transfer is the primary and currently sole method for topping up your Quibit Wallet. The process follows a manual verification flow:

Step 1: Select the desired top-up amount within any Quibit app

Step 2: Transfer funds to the designated Quibit, Inc. bank account using the reference code provided

Step 3: Upload proof of transfer (screenshot or receipt) through the app

Step 4: Quibit admin verifies the transfer — status moves from PENDING to ACTIVE

Step 5: Quibit Credits are deposited into your wallet upon verification

3.2 3.2 Supported Banks

The following Korean banks are supported for domestic transfers:

KB Kookmin Bank (국민은행)

Shinhan Bank (신한은행)

Woori Bank (우리은행)

Hana Bank (하나은행)

NH NongHyup Bank (농협은행)

IBK Industrial Bank (기업은행)

Kakao Bank (카카오뱅크)

Toss Bank (토스뱅크)

Other domestic banks — transfers accepted but may require 1-2 additional business days

3.3 3.3 Processing Times

Top-up processing times vary by method and verification status:

3.4 3.4 Minimum & Maximum Amounts

Top-up transactions are subject to the following limits:

3.5 3.5 Failed Top-Ups

If a top-up cannot be verified (incorrect reference code, amount mismatch, or unidentifiable transfer), Quibit will attempt to contact you. Unresolved top-ups after 30 days will be returned to the originating bank account, minus any applicable bank fees.

4.1 4.1 Nature of Quibit Credits

Quibit Credits are a limited-license digital token for use exclusively within Quibit services

Credits have no cash value and cannot be exchanged for real-world currency outside of the refund process described in Section 8

Credits do not accrue interest, dividends, or any financial return

Credits are not securities, commodities, or any form of investment instrument

Quibit Credits are not cryptocurrency and do not operate on any blockchain

4.2 4.2 Exchange Rate

The standard exchange rate for Quibit Credits is:

4.3 4.3 Non-Transferability

Quibit Credits are strictly non-transferable. You may not:

Transfer, sell, gift, trade, or exchange credits with other users

Purchase credits from any source other than official Quibit top-up channels

Use credits as a form of payment between users (peer-to-peer)

Attempt to convert credits to real currency through unauthorized means

4.4 4.4 Promotional & Bonus Credits

Quibit may periodically offer bonus credits through promotions, referrals, or bulk top-up incentives. Promotional credits:

Are clearly labeled as 'Bonus' in your transaction history

Are consumed before purchased credits (FIFO — bonus first)

Are non-refundable under any circumstances

May have an expiration date shorter than standard credits

May be subject to additional terms specific to the promotion

5.1 5.1 Quibit (Social Platform)

Credits can be used for the following features within the main Quibit app:

AI Chat Credits — Extended conversations with AI assistants beyond free-tier limits

AI Job Post Creation — AI-assisted job listing generation and optimization

AI Blog Creation — AI-powered blog content drafting and publishing

Smart Profile Mentions — Enhanced mention suggestions and profile analytics

Premium Profile Analytics — Detailed insights on profile views and engagement

Auto-Reply — Automated intelligent responses when you are offline

Agent Mode — Full AI agent capabilities for advanced task automation

5.2 5.2 Kha (Dating Platform)

Credits can be used for the following features within the Kha dating app:

Profile Boosts — Increase your visibility in discovery feeds for a set duration

Super Likes — Send highlighted interest signals to other users

Premium Matching — Access advanced matching algorithms and expanded match pools

Read Receipts — See when your messages have been read

Undo Actions — Reverse accidental swipes or dismissals

Profile Spotlight — Feature your profile at the top of search results

Incognito Mode — Browse profiles without appearing in others' visitor lists

5.3 5.3 QuiTalk (Chat Platform)

Credits can be used for the following features within QuiTalk:

AI Conversation Credits — Extended AI chat sessions and advanced AI model access

Phone Call Credits — App-to-phone calling (domestic and international); see Section 7 for detailed rates

Channel Subscriptions — Subscribe to premium channels for exclusive content and community access

Message Translation — Real-time message translation across supported languages

Voice Message Transcription — Convert voice messages to text using AI

Custom Stickers & Themes — Purchase personalized chat themes and sticker packs

5.4 5.4 QuizCoin (Game Platform)

Credits can be used for the following features within QuizCoin:

Extra Lives — Continue playing after an incorrect answer

Power-Ups — Eliminate wrong answers, extend time, or reveal hints

Tournament Entry — Join premium quiz tournaments with enhanced prize pools

Custom Avatars — Unlock exclusive avatar customizations and accessories

XP Boosters — Accelerate experience point earning for a limited duration

Premium Quiz Packs — Access exclusive themed quiz content

5.5 5.5 Spending Confirmation

All credit-spending transactions require explicit user confirmation before processing. A confirmation dialog will display the exact credit cost, remaining balance after purchase, and a description of what you are buying. No credits will be deducted without your active consent.

6.1 6.1 Available Plans

Four subscription tiers are available:

6.2 6.2 Premium Features Included

Subscription plans unlock the following seven (7) premium features, with availability varying by plan tier:

ai_chat — Unlimited AI chat conversations with advanced models and extended context windows

ai_create_job — AI-assisted job listing creation with smart optimization and category suggestions

ai_create_blog — AI-powered blog post drafting, editing, and publishing tools

smart_profile_mention — Intelligent @mention suggestions based on context and relationship strength

ai_profile_analytics — Comprehensive analytics on profile engagement, visitor demographics, and trends

auto_reply — AI-generated automatic replies to messages when you are unavailable or offline

agent_mode — Full AI agent capabilities including multi-step task automation and workflow creation

6.3 6.3 Subscription Purchase Flow

Step 1: Select a subscription plan within any Quibit app

Step 2: Choose payment method — Quibit Credits (instant) or bank transfer (manual verification)

Step 3: For bank transfer: transfer the exact plan amount to the designated account with your reference code

Step 4: Upload proof of payment and submit

Step 5: Admin reviews and verifies — subscription status changes from PENDING to ACTIVE

Step 6: Premium features become immediately available upon activation

6.4 6.4 Subscription Renewal & Cancellation

Subscriptions do not auto-renew. You must manually purchase a new subscription period before your current plan expires. If your subscription lapses:

Premium features will be disabled at the end of the billing period

No data or content will be lost — it remains accessible when you resubscribe

Any unused subscription time is non-refundable (see Section 8 for refund policy)

You may upgrade to a higher tier at any time; the remaining value of your current plan will be pro-rated as credit toward the upgrade

7.1 7.1 Domestic Calling Rates (South Korea)

Calls to South Korean phone numbers:

7.2 7.2 International Calling Rates

International rates vary by destination country. The following are representative rates for popular destinations:

7.3 7.3 Credit Deduction & Billing

Phone call credits are deducted as follows:

Credits are deducted per-minute, rounded up to the nearest whole minute (e.g., a 2:15 call is billed as 3 minutes)

A connection fee of 1 Credit is charged when the call connects (not charged for unanswered calls)

Credits are deducted in real time during the call — if your balance reaches zero, the call will end with a 30-second warning tone

Voicemail connections are billed at the same rate as answered calls

7.4 7.4 Minimum Balance Requirement

To initiate a phone call, you must have a minimum balance sufficient for at least 3 minutes of calling at the applicable rate. For example, a domestic mobile call requires at least 3 Credits (3 minutes x 1 Credit/minute) plus the 1-Credit connection fee, totaling 4 Credits minimum.

7.5 7.5 Call Quality & Limitations

Call quality depends on your internet connection — Wi-Fi or 4G/5G recommended

Emergency calls (112, 119) are NOT supported through QuiTalk — use your native phone dialer

Maximum call duration: 120 minutes per session (you may redial immediately after)

Quibit is not a replacement for traditional phone service and should not be relied upon for emergency communications

8.1 8.1 Eligible Refunds

Refunds may be issued in the following circumstances:

Duplicate or erroneous top-up — you accidentally topped up twice or transferred the wrong amount

Service unavailability — a paid feature or service was materially unavailable for an extended period after purchase

Unauthorized transaction — a top-up or purchase was made without your authorization (subject to investigation)

Unused credit balance — you may request a refund of your remaining purchased credits (bonus credits excluded) if you wish to close your account

Within 7 days of purchase — any unused credits from a top-up made within the last 7 days, provided no credits from that top-up have been spent

8.2 8.2 Non-Refundable Items

The following are strictly non-refundable:

Bonus or promotional credits — these are granted free of charge and carry no refund value

Partially consumed top-ups — if any credits from a top-up have been spent, only the unspent purchased portion may be refundable

Phone call credits already used — completed calls cannot be reversed

Subscription time already elapsed — only the unused pro-rated portion may be considered

In-game purchases in QuizCoin — virtual items, power-ups, and tournament entries once consumed

Credits spent on AI services — AI chat, AI job creation, and AI blog generation once the AI output has been delivered

8.3 8.3 Refund Processing

Refund processing details:

8.4 8.4 How to Request a Refund

In-App: Navigate to Settings > Wallet > Transaction History > select the transaction > Request Refund

Email: Send a refund request to [email protected] with your account ID, transaction reference, and reason

Response time: Refund requests are reviewed within 3 business days

9.1 9.1 Viewing Transaction History

Your transaction history displays all wallet activity including top-ups, purchases, subscription payments, phone call charges, and refunds. Each entry includes:

Transaction ID — unique identifier for each transaction

Date and time (in your local timezone)

Transaction type (top-up, purchase, subscription, call, refund)

Amount in Quibit Credits and equivalent KRW value

Status (PENDING, COMPLETED, REFUNDED, FAILED)

Description — details of the specific feature or service purchased

App context — which of the four apps the transaction originated from

9.2 9.2 Downloading Receipts

Digital receipts are available for all completed transactions. Receipts can be downloaded as PDF documents and include all legally required information for tax and record-keeping purposes.

Individual receipts: Tap any transaction to view details, then select 'Download Receipt'

Monthly statements: Available under Settings > Wallet > Statements > select month

Annual summary: Generated automatically each January for the previous calendar year

Receipts include: Quibit, Inc. business registration number, transaction details, and applicable tax information

9.3 9.3 Data Retention

Transaction records are retained for a minimum of five (5) years in accordance with the Korean Electronic Commerce Act and applicable tax regulations. After this period, records may be archived but remain retrievable upon request.

10.1 10.1 Account Protection

All wallet transactions require active authentication via your Quibit session

Session tokens are stored securely in Redis with device-specific binding (session key: sess:{userId}:{deviceId})

Wallet operations are protected by rate limiting to prevent automated abuse

Large transactions may trigger additional verification steps

All API communications are encrypted via TLS 1.3

10.2 10.2 Fraud Detection & Prevention

Quibit monitors wallet activity for suspicious patterns. The following may trigger a security review:

Unusually rapid or large top-up requests

Multiple failed top-up attempts in a short period

Spending patterns inconsistent with normal usage

Access from unusual geographic locations or devices

Attempts to circumvent transaction limits or verification requirements

10.3 10.3 Unauthorized Transactions

If you believe an unauthorized transaction has occurred on your wallet:

Immediately change your account password and sign out of all devices

Report the unauthorized transaction via Settings > Wallet > Report Issue or email [email protected]

Quibit will investigate within 3 business days and may temporarily freeze your wallet during investigation

If the transaction is confirmed unauthorized, a full refund will be issued

You are responsible for transactions made before reporting unauthorized access

10.4 10.4 User Responsibilities

Keep your login credentials secure and do not share them with anyone

Enable two-factor authentication (2FA) when available

Regularly review your transaction history for any discrepancies

Report suspicious activity immediately

Do not use your Quibit account on untrusted or shared devices without signing out

11.1 11.1 Electronic Financial Transaction Act (전자금융거래법)

Quibit Credits constitute prepaid electronic payment means (선불전자지급수단) under the Electronic Financial Transaction Act. Quibit, Inc. complies with all applicable registration, reporting, and operational requirements under this act, including:

Segregation of customer funds from corporate operating funds

Maintenance of adequate reserves to cover outstanding credit balances

Regular reporting to the Financial Supervisory Service (FSS) as required

Compliance with transaction limits and customer verification requirements

11.2 11.2 Personal Information Protection Act (PIPA / 개인정보보호법)

All transaction data and wallet-related personal information is processed in compliance with PIPA:

Transaction data is collected and processed solely for service provision, fraud prevention, and regulatory compliance

Financial data is encrypted at rest and in transit

Data access is restricted to authorized personnel on a need-to-know basis

Users may request access to, correction of, or deletion of their transaction data (subject to legal retention requirements)

Cross-border data transfers comply with PIPA requirements for international transfers

11.3 11.3 Consumer Protection in Electronic Commerce Act (전자상거래법)

In accordance with the Act on Consumer Protection in Electronic Commerce:

Clear pricing and terms are displayed before any purchase

A cooling-off period of 7 days applies to unused credit purchases

Dispute resolution mechanisms are available through the app and via the Korea Consumer Agency

All electronic contracts (purchases, subscriptions) are confirmed via email or in-app receipt

11.4 11.4 Anti-Money Laundering (AML)

Quibit complies with applicable anti-money laundering regulations. High-value transactions and suspicious activity patterns are reported to relevant authorities as required by law. Customer due diligence and enhanced verification requirements (Section 2.2) support these obligations.

11.5 11.5 International Users

Users accessing Quibit services from outside South Korea should be aware that additional local laws and regulations may apply to virtual currency purchases and digital wallet services. It is the user's responsibility to ensure compliance with local laws in their jurisdiction.

12.1 12.1 No Real Currency

Quibit Credits are not real currency, legal tender, or any form of regulated financial instrument. Credits exist solely as a convenience mechanism for accessing Quibit services and have no value outside the Quibit platform ecosystem.

12.2 12.2 No Interest or Returns

Quibit Credits do not earn interest, dividends, yields, or any form of financial return. Your wallet balance will not increase except through top-ups, promotions, or refunds. Quibit, Inc. is not a bank, financial institution, or investment service.

12.3 12.3 Credit Expiration Policy

Quibit Credits are subject to the following expiration rules:

Purchased Credits: Valid for 24 months from the date of top-up. Unused credits expire after this period.

Bonus/Promotional Credits: Valid for 6 months from the date of issuance, unless otherwise specified in the promotion terms.

Subscription Credits: Valid for the duration of the subscription period only.

Expiration Notices: You will receive notifications at 90 days, 30 days, and 7 days before credit expiration.

Expired credits cannot be restored, refunded, or reinstated.

12.4 12.4 Service Modification & Termination

Quibit reserves the right to modify, suspend, or discontinue the wallet service or virtual currency system at any time with reasonable notice:

Feature changes: 30 days' advance notice via email and in-app notification

Pricing changes: 30 days' advance notice; existing credits retain their value at the time of purchase

Service discontinuation: 90 days' advance notice with a process for remaining balance refunds

In the event of service termination, all remaining purchased credit balances will be refunded to users' original payment methods

12.5 12.5 Liability Limitations

To the maximum extent permitted by applicable law:

Quibit, Inc. is not liable for any indirect, incidental, or consequential damages arising from wallet usage

Total liability for any wallet-related claim shall not exceed the amount of credits purchased in the preceding 12 months

Quibit is not responsible for delays caused by banking institutions or payment processors

Service interruptions due to maintenance, force majeure, or circumstances beyond Quibit's reasonable control do not give rise to refund claims for subscription time

12.6 12.6 Account Termination & Remaining Balance

If your Quibit account is terminated (voluntarily or due to policy violation):

Voluntary closure: You may request a refund of remaining purchased credits (minus bonus credits) before account closure. Allow 10 business days for processing.

Policy violation: Quibit reserves the right to forfeit remaining credits if the account is terminated due to fraud, abuse, or material violation of Terms of Service.

Inactivity: Accounts inactive for 12 consecutive months will receive a reactivation notice. If no action is taken within 30 days, the account may be deactivated and credits may expire per Section 12.3.

13.1 13.1 General Support

In-App Support: Settings > Help & Support > Wallet Issues

Email: [email protected]

Response Time: Within 1 business day for wallet-related inquiries

13.2 13.2 Security & Fraud Reports

Email: [email protected]

Priority Response: Within 4 hours for security-related reports

Include: Your account ID, transaction reference (if applicable), and detailed description of the issue

13.3 13.3 Refund Requests

In-App: Settings > Wallet > Transaction History > select transaction > Request Refund

Email: [email protected] with subject line 'Refund Request — [Your Account ID]'

Processing: Reviewed within 3 business days

13.4 13.4 Regulatory & Legal Inquiries

Email: [email protected]

Postal Address: Quibit, Inc., Seoul, Republic of Korea

Business Registration: Available upon request

13.5 13.5 Dispute Resolution

If you are unsatisfied with our response to a complaint or dispute, you may escalate through the following channels:

Korea Consumer Agency (한국소비자원): www.kca.go.kr / 1372

Financial Supervisory Service (금융감독원): www.fss.or.kr / 1332

Korea Internet & Security Agency (KISA): www.kisa.or.kr (for data protection concerns)