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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 refund transactions were authorized in batch mode and sent to the processor at the end of the day, delaying when merchants can see refund status.

This workflow not only creates an inconvenience but also poses compliance challenges, requiring real-time authorization for refund transactions. Real-Time Return Refund 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.

With Real-Time Return Refund Authorization you can:

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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 refund.

• Receive Authorization Codes related to each refund transaction.

Real-Time Authorization for Refund Transactions Lifecycle

Using Vantiv (VAP)

As part of the Real-Time Return Refund Authorization functional update, the transaction lifecycle for refunds will change to no longer reflect a pending status, but rather be Approved and Captured (or Declined) instantly before reaching the Settled status.

Using VAP, a Cancel button will no longer be displayed. As a result, you cannot cancel or void the refund.

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Using Vantiv Core (VCore)

After a response is received, the refund transaction status will show “Approved” and is then batched for capture.

If the refund transaction is declined, the status will show as “Failed”. Transactions can be canceled until the refund transaction status is updated to “Captured”.

Refund Transaction Details

The Transaction Details page for refund transactions will no longer display a Cancel button, allowing cancelling the initiated refund to be canceledrefunds for transaction processed on VAP. This is due to the instantaneous nature of Real-Time Return Refund Authorization , approving or declining and capturing an initiated refund immediatelyimmediately.

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