The interesting thing about chargeback is… nothing
They are kind of boring, merchants do not like them, aggregators despise them… but chargeback are important as they safeguard cardholders.
Refunds are essential part of online business… we cancel tickets, we return product. I think refunds played great role in growth of e-commerce as they installed confidence in users.
Refunds can be marked only against successful transactions. Merchant can either mark full or partial…
In last two chapters, we covered settlement timelines and settlement amount. Let’s talk about where to settle?
Settlement Account:
An aggregator can do settlement to any account (current, nodal or escrow) that…
In last section, we covered ‘WHEN’ will merchant receive the money and in this section, let’s talk about ‘HOW MUCH’
After ‘reconciliation’, aggregator settles funds to merchants account (current or nodal or escrow)
Settlement amount depends…
Main purpose of online payments is getting ‘money’ from user. So ‘settlement’ is the crucial part of the payment cycle. Let’s assume transaction was successful, when will merchant get the money and how much?