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Previously, the Payrix payment processor would process refunds in batches, similar to sales transactions, leading to delays and uncertainty about the status of a refund transaction. Merchants and customers are left unsure if the refund has been approved, declined, or has failed for another reason. This to be sent to the processor for settlement at the end of the day, delaying the time the Merchant received notification if the refund transaction was approved or declined until the settlement period.

This workflow not only creates an inconvenience but also poses compliance challenges, requiring real-time authorization for refund transactions. Real-Time Return Authorization ensures compliance with major card brands and streamline streamlines the refund process, increasing efficiency for both Merchants and their customers. Merchants are instantly notified about the status of each refund - approved or declined.

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• Instantly know the status of your customer’s refund.

• Avoid retrying failed refunds or manually locating declined transactions.

• Ensure you’re always in the loop with your customer’s refundReceive Authorization Codes related to each refund transaction.

Real-Time Return Authorization Transaction Lifecycle

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