The option to refund a transaction from Fattpay will not be available until the transaction has settled. Your settlement time will be 12AM unless previously changed. Interchange will still pass through to you for refunds.
Prior to a payment settling, you will need to void the transaction which cancels out 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. You will not be charged interchange on voided transactions, only the per transaction amount (authorization fee).
To start a void or refund from Fattpay:
- Click the Payments tab on the left.
- Use the search function to find the transaction.
- Select the transaction.
- Select Void or Refund.
- Void: Select Okay to confirm.
- Refund: You will be given the option to refund either the full or a partial amount of the original transaction.
- Enter amount to refund
- Select Refund
- Refund will automatically process
- 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.