The option to refund a transaction from the Fattmerchant Virtual Terminal will not be available until 18 hours after a transaction has processed - prior to that, you will need to void the transaction, which will cancel the transaction. The authorization will still show as “pending” on the cardholder’s bank statement, and the amount of time it takes to fall off the bank statement is dependent on the cardholder’s issuing bank.
- To start a void or refund from the Fattmerchant Virtual Terminal, click the “payments” tab.
- Use the search function to find the transaction you would like to void or refund.
- Select the transaction - if it is within 18 hours of processing the transaction, you have the option to VOID, which means you will not be charged interchange on that transaction, only the per transaction amount. If you REFUND a card, interchange on that transaction will still pass through to you.
- When selecting refund, you have the option to refund either the full or partial amount of the original transaction.
- Once successful, the transaction will show as “Void” or “Refunded” depending on the action you chose. Please note, a refund typically takes 3-5 business days to post back to the cardholder’s bank statement.