In Norway and the wider Nordic region, there is an established culture of giving and receiving gift cards issued by shopping centers and retail groups for holidays and special occasions, and a good many of these are processed through Nets infrastructure. However, it is inherent to these gift cards that the merchant network where they can be used is limited by the issuance terms, so whether a Korean online merchant outside that issuance network can accept them requires a separate viability check.

The cases where reviewing this makes sense narrow down to businesses that have a partnership with a Nordic local retail network, or that are pursuing the Norwegian market by participating in a gift card issuance program. For general cross-border online sales, it is more sensible to first consider general-purpose methods such as Vipps and card wallets.

This is a prepaid deduction structure in which, when a consumer uses their gift card number (or card) for payment, balance verification and deduction approval take place through Nets infrastructure. Which merchants are allowed to accept the payment is determined by the card's issuance terms, so before integration it must be confirmed whether this flow is actually open in a Korean merchant's environment—in other words, whether acceptance is viable at all.

Whether this gift card can be accepted depends on the issuer and merchant network conditions, so in consultation with Hecto Financial you should first confirm the form of integration that is possible. If viable, the settlement cycle, fees, and currency options are also finalized at the same stage.

• Business registration country

  Confirm whether a contract is possible on the basis of a Korea-registered business

• Sales channels

  The integration method and priority vary depending on your online sales channel mix, such as your own storefront, open marketplaces, or mobile apps

• Product categories handled

  Advance confirmation is needed on whether your business falls under a category restricted by Nordic gift card via NETS's operator merchant policy

• Scope of EEA regulation

  Norway is not an EU member, but under the EEA agreement it adopts EU payment directives such as PSD2 into domestic law, and it also participates in the SEPA area. Compliance with these rules needs to be confirmed (see official sources below)

Assuming acceptance is viable, NOK proceeds generated from gift card deductions are received and converted by Hecto Financial, then settled to the Korean merchant in whichever single currency—USD, KRW, or JPY—was selected in the contract. Because this is based on a prepaid balance, operating rules such as partial use and combining with other balances, as well as the refund method (whether the balance can be restored), depend on the issuance terms, and if selling to consumers in Norway, the approach to the 14-day right of withdrawal applied under the EEA must also be worked out at the contract stage.

• Norges Bank (Central Bank of Norway)The official source for operation and oversight of Norway's payment system and payment trend reports.
• Financial Supervisory Authority of Norway (Finanstilsynet)The supervisory authority for payment service and e-money providers. Where this page differs from actual regulations, the official source takes precedence.