"Summer Vacation Ruined by TMON and WeMakePrice" - Widespread Issues Due to Payment Delays

many consumers who planned their summer vacations have had to cancel their purchases

Recently, TMON and WeMakePrice have been embroiled in a significant controversy due to payment delays to sellers, causing substantial inconvenience to both sellers and consumers. As a result, many consumers who planned their summer vacations have had to cancel their purchases. This article will explore the progression of the payment delay crisis, the impact on affected parties, and the current status of the situation.

TMON and WeMakePrice have faced significant backlash due to ongoing payment delays that have persisted for over two weeks. This situation has led to growing anxiety among sellers and consumers. Some sellers have even halted their product sales or advised consumers to cancel their already purchased products.

Major travel agencies such as HanaTour, Modetour, Yellow Balloon Tour, and Kyowon Tour have decided to temporarily suspend the sale of travel products on TMON and WeMakePrice due to payment issues. These agencies' products have been removed from both platforms' apps and websites. A representative from HanaTour stated, "We have removed all products from WeMakePrice and TMON since last week due to unpaid settlements."

Not only travel packages but also individual items like accommodations and airline tickets are being canceled. Consumers, who received cancellation notices just before their departure dates, have expressed frustration, claiming that TMON and WeMakePrice ruined their summer vacation plans.

WeMakePrice attempted to address the issue by announcing compensation plans on July 17, offering an annual interest rate of 10% for delayed payments and an additional 10% of the delayed amount as compensation. They also promised to complete all settlements by the end of the month. However, they have failed to meet their promised deadlines, leading to ongoing seller anxiety.

TMON is also entangled in this payment delay crisis. TMON informed sellers that "(following the WeMakePrice situation) some sellers have suspended sales, impacting our product transactions and temporarily reducing transaction volume," and assured that they would normalize the situation as soon as possible.

Amidst this turmoil, rumors of TMON's temporary closure have circulated on social media. TMON posted a notice at their headquarters in Gangnam, Seoul, stating, "Closed temporarily for internal repairs." The problem was that the notice did not specify an end date for the closure, leading to speculation about an indefinite shutdown. However, it was later confirmed that the notice referred to a café on the first floor undergoing renovations, which was misconstrued in the context of the payment delay crisis.

Qoo10, the Singapore-based parent company, explained that the payment delays were due to a temporary system glitch. Qoo10 announced plans to complete payments to partners sequentially by the end of the month. TMON also stated that the "WeMakePrice payment delay is separate from us" but acknowledged that "negative media coverage led some sellers to suspend sales, temporarily reducing transaction volume and causing delays in our payments."

Qoo10, a global e-commerce platform group based in Singapore, owns TMON, WeMakePrice, and Interpark Commerce. Amid rumors of a possible merger of its subsidiaries due to capital erosion, Qoo10 stated that it could not confirm anything at this time.

The payment delay crisis at TMON and WeMakePrice has caused significant distress to many sellers and consumers, especially those who had planned their summer vacations. It is crucial to address and resolve such issues promptly to prevent further occurrences. Moreover, Qoo10 and its subsidiaries need to improve their systems and regain the trust of consumers and sellers through diligent efforts and transparent communication.