WayForPay: Online Payment Returns or Hold
Refunds are what internet businesses face when dealing with customers. Modern technologies make it easy to realize the return of payment to the client, but the greater the flow of returns in the business, the more difficult it is to work with them.
When working with a good service for receiving online payments, the return function must be implemented in your account. If it is necessary to return the buyer to the online store, you will need to find a payment and send a request for a refund to the customer with one click.
If work with returns is not frequent, then this procedure is quite acceptable. And if a business has a lot of sales, and many demanding customers, then in this case it is more convenient to consider holding the funds on the client’s card for the business.
Hold (from the English word hold - hold) is the “freezing” of funds for the amount of the order on the customer card, which is not charged to the seller at the time of purchase and is not available to the buyer for a certain period.
The process of ordinary buying and buying with a “hold” can be displayed as follows:
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During a standard purchase, funds are immediately withdrawn from the client’s card. When buying with a “hold”, the amount is frozen for the required period, after confirmation from the seller the amount is deducted from the card.
During the “hold” period, the online store can clarify the availability of goods in stock, form a shipment to the customer and carry out a number of other procedures for placing an order. After sending or receiving goods by the buyer (after all, at the delivery stage, the goods may be lost by the delivery service) the online store may write off the order amount from the customer’s account. In addition, if the desired product is not available, the online store can offer an alternative at a price equal to or less to the hold, and the difference will automatically be unlocked on the customer’s card.
What problems holding can solve:
Undoubtedly, these issues also resolve standard returns, but it is easier to work with a “hold”. “Hold” is psychologically more pleasant for a client than write-off, which increases the credibility of online card payments.
In WayForPay, holding on the client card can be organized for up to 30 calendar days. Hold period is set by the online store. If necessary, the holding period can be implemented for a period of more than 30 days.
Returns or “Holds” - every business chooses an acceptable solution. The possibilities of both procedures we tried to display in this material.
Team WayForPay .
When working with a good service for receiving online payments, the return function must be implemented in your account. If it is necessary to return the buyer to the online store, you will need to find a payment and send a request for a refund to the customer with one click.
If work with returns is not frequent, then this procedure is quite acceptable. And if a business has a lot of sales, and many demanding customers, then in this case it is more convenient to consider holding the funds on the client’s card for the business.
Hold (from the English word hold - hold) is the “freezing” of funds for the amount of the order on the customer card, which is not charged to the seller at the time of purchase and is not available to the buyer for a certain period.
The process of ordinary buying and buying with a “hold” can be displayed as follows:
')
During a standard purchase, funds are immediately withdrawn from the client’s card. When buying with a “hold”, the amount is frozen for the required period, after confirmation from the seller the amount is deducted from the card.
During the “hold” period, the online store can clarify the availability of goods in stock, form a shipment to the customer and carry out a number of other procedures for placing an order. After sending or receiving goods by the buyer (after all, at the delivery stage, the goods may be lost by the delivery service) the online store may write off the order amount from the customer’s account. In addition, if the desired product is not available, the online store can offer an alternative at a price equal to or less to the hold, and the difference will automatically be unlocked on the customer’s card.
What problems holding can solve:
- It takes time to clarify the availability of goods, if the goods are not in stock, the seller can immediately decode the order amount.
- The customer wants to return the goods
- The client bought 3 goods, 1 wants to return - the implementation of the partial debriefing amount.
- Item lost during delivery.
Undoubtedly, these issues also resolve standard returns, but it is easier to work with a “hold”. “Hold” is psychologically more pleasant for a client than write-off, which increases the credibility of online card payments.
In WayForPay, holding on the client card can be organized for up to 30 calendar days. Hold period is set by the online store. If necessary, the holding period can be implemented for a period of more than 30 days.
Returns or “Holds” - every business chooses an acceptable solution. The possibilities of both procedures we tried to display in this material.
Team WayForPay .
Source: https://habr.com/ru/post/290522/
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