FAQ About Refund
What is a refund and when can I issue one?
A refund is a reversal of a previously processed transaction, where the funds are returned to the customer. You can issue a refund when a customer requests to cancelled, or if there was an error in the original transaction.
Q3: How do I process a refund using the payment terminal?
To process a refund, follow these general steps:
Access the refund function on the payment terminal.
Click the history tab on the app, select the transaction verify the transaction details such as the original transaction amount, transaction ID, or reference number.
Click refund and specify the refund amount option
Follow the prompts on the terminal to complete the refund transaction.
Provide the customer with a refund receipt as proof of the refund.
Can I issue a partial refund using the payment terminal?
Yes, smart pay payment terminals support partial refunds, allowing you to refund a specific amount of the original transaction. When processing a partial refund, enter the refund amount that corresponds to the portion being refunded, rather than the full original transaction amount.
How do I process a partial refund using the payment terminal?
To process a partial refund, follow a similar process as for a regular refund. However, when prompted for the refund amount, enter the specific amount you are refunding, ensuring it reflects the partial portion of the original transaction.
How is a refund reflected on the customer's statement or account?
When a refund is processed, it typically appears as a credit or adjustment on the customer's statement or account associated with the original payment method. The refunded amount should be deducted from the customer's balance or reflected as a separate transaction.
How long does it take for a refund to be processed?
The processing time for a refund can vary depending on several factors, including the payment method, the card issuer's policies, and bank processing times. In general, refunds are processed within a 5 to 10 business days, but it may take longer for the refund to be reflected in the customer's account.
What should I do if a refund transaction encounters an error or issue?
If you encounter any errors or issues while processing a refund transaction, contact our customer support for assistance. They can provide guidance, troubleshoot the issue, and help ensure the refund is properly processed.