When requesting a return / refund, the cardholder typically provides a receipt or proof of purchase showing the account used to make the purchase. It is important that merchants are prepared with necessary policies, procedures, and training to be able to handle return decline scenarios, as this is a new function of the POS. Preparedness of merchants to handle decline scenarios is essential to mitigate operational risks. This is typically when the issuing bank decides it is a fraudulent card, or the account is closed or does not exist. In some cases a decline will be issued.In most cases the response from the terminal will be an approval.The cardholder will be able to view the transaction information immediately in their online account. When the merchant processes the return the POS will dial out and the merchant will receive a response on their POS similar to how purchase transactions work today. Cardholder returns product for credit.The cardholder is unable to view the return transaction information until after a merchant settlement is processed, and posted by the card issuing bank. When the merchant processes the return the POS would not dial out and just store the transaction in the system. Incoming cardholder inquiries to understand the status of a transaction isĮxpected which in turn increases transaction processing satisfaction. Will be able to view returns in real time. Merchants on unsupported or third party products need to contact their POS support team to determine what action is necessary to upgrade their system.Ĭhange should reduce the number of cardholder inquiries/claims of credits not.Additional information will be communicated as details and delivery dates become available. Supported applications are in the process of being updated.POS systems may not currently support obtaining an authorization for a return.Employee training may be necessary (See FAQ guide for assistance).
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