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 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 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 Authorization you can:
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.
Warning: Real-Time Refunds will be enabled for Merchants on May 13, 2024. Please take this time to update your API and manual processes accordingly.
Real-Time Return Authorization Transaction Lifecycle
As part of the Real-Time Refund 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.
Refund Transaction Details
The Transaction Details page for refund transactions will no longer display a Cancel button, allowing the initiated refund to be canceled. This is due to the instantaneous nature of real-time refunds, approving or declining an initiated refund immediately.
