Refunds
When a shopper wishes to return the goods or services you have provided you can use the refund operation to provide the funds back. It is important that you perform this operation in a timely manner to avoid Disputes raised by the Customers with their banks.
Refundable funds
The funds that you have available to refund your shoppers are referred to as refundable funds. The refundable funds are composed of unsettled online payments funds and the available balance in your wallet.
We will use your unsettled funds to refund the shopper by default. In the case that you don’t have enough unsettled funds, your available balance will be reserved for refunds, and once the refunds are settled, the reserve will be released. You can see the reserve and release record in the timeline in the payment detail page for this scenario. In essence, the refunds will be finally deducted in your batch settlement in both cases.
The refundable funds are calculated per settlement currency. To successfully refund your shopper, you must ensure that either your unsettled funds or your available balance individually covers the refund amount. If your unsettled funds are insufficient to cover the refund amount, the refund will be entirely deducted from the available balance in the specific refund currency. Once you have ensured this, you may retry the refund.
Refer to below guidance to add money to your refundable funds
Increase unsettled funds. You need to send more successful traffic into Airwallex Online Payments service and your unsettled funds will increase accordingly.
Increase available balance in your wallet. You can either increase your available balance of a specific currency by using the ‘Add funds’ functionality, or ‘Convert’ from other currencies in your wallet.
Refund processing
These are the steps you need to follow for operating refunds.
Use the Airwallex API or web app to create a refund against a specific Payment Intent (or Payment Attempt if you require so). You can perform a full or partial refund; if you make a partial refund several refunds can occur until the principal is fulfilled. If your refund request fails to be processed, please make sure you have enough unsettled funds or available balance for refund.
You will be immediately informed that the refund request has been received and is being processed.
You will be notified when the refund has succeeded through our asynchronous notifications.