Processing Voids and Refunds
Overview
Processing voids and refunds is crucial for managing transactions effectively, allowing businesses to cancel pending transactions and reimburse customers for completed ones, ensuring financial integrity and customer satisfaction.
Process a void
Processing a void can only take place before the transaction has been settled, (i.e. it has not been processed through the acquiring bank's batch process). This action can only be taken by the merchant on the same day that the payment request was processed (depending on when the merchant's transactions get settled).
If the transaction cannot be voided because the funds have already been captured from the payment card, you can refund the payment.
How-to process a void
- Go to the List tab.
- Locate the required transaction using the relevant filters .
- You can void the transaction by either clicking on the ellipsis in the Action column and selecting Void. Or by clicking into the transaction detail and selecting the Void button.
- The transaction status will be updated to either
success
,declined
orblocked
and a subsequenttransaction_id
will be generated for the voided record.
Process a refund
You can partially or fully refund a card transaction (including digital wallets) with a success
status. For Open Banking payments, the transaction must be in a settled
status.
User's with access can initiate a refund from the day after the initial payment request (when the funds have settled through the merchant's account).
How-to process a refund
- Go to the List tab.
- Locate the required transaction using the relevant filters .
- You can refund the transaction by either clicking on the ellipsis in the Action column and selecting Refund. Or by clicking into the transaction detail and selecting the Refund button.
- Enter the amount that you want to refund in the field. By default, the full transaction amount will be pre-populated.
- The status will update to either
success
,declined
orblocked
and a subsequenttransaction_id
will be returned.
Updated about 2 months ago