Close refund cases only on evidence of credit

Trace each refund or failed-payment reversal from the merchant's instruction through the aggregator ledger, escrow account and acquirer reversal to the issuer's credit. Customer Support can tell customers who holds the money, push that party and confirm compensation before deadlines lapse.

Starts when

A customer complains, through any channel or the online dispute resolution channel, that a refund the merchant promised or confirmed has not reached their account
A customer was debited but the merchant did not receive confirmation (a failed transaction)
A merchant reports that a refund it initiated has not been credited within the committed timeline
Reconciliation shows a refund debited from the escrow account without a matching issuer acknowledgement

People in the process

CCustomer SupportProcess Owner
SSettlement OperationsParticipating Team

The process is a starting point. The standards are yours.

Configure for the entity’s actual role. Payment-aggregator, gateway and lending-partner obligations are distinct; the workflow must use the relevant permissions, partner contracts and reviewed requirements.

Keep the work connected.

Merchant Risk

Activate merchants only on a complete KYC file

For payment aggregators, bring the merchant's CKYCR record or due diligence, beneficial owners, settlement account, website and sanctions screening into one onboarding file. Merchant Risk can approve, condition or decline activation and keep unverified merchants off the escrow settlement list.

Merchant Risk

Verify merchant bank account changes before switching settlement

Tie each merchant change in ownership, business category, website or settlement account to the signed agreement, risk profile and fresh KYC and sanctions checks. Merchant Risk can re-rate the merchant and notify the acquiring bank before settlement moves, blocking account-change fraud.

Merchant Risk

Contain suspicious merchants and report them to FIU-IND

Compare a merchant's volumes, ticket sizes, refund and chargeback rates, payer patterns and linked merchants with the business it was approved for. Merchant Risk can decide holds, limits, suspension or termination on preserved evidence while Compliance files suspicious transaction reports on time.

FMC

Explore all Fintech & payments processes.

Order for the work. Room for the people.