While you focus on resolving such situations, PayU can help you streamline refunds and provide a hassle-free experience to your customers. Refunds need to be quick and flow back into their source accounts. PayU processes over 4 lakh refund requests daily with a success rate of over 99%. Over 90% of these refunds are successfully processed within 30 seconds of initiation.

Here is how PayU can help businesses ramp up their refund cycle during peak sale season and improve stickiness by offering customers quick money back.

Channels offered by PayU for refund initiation

• Refund initiation via merchant dashboard: Refunds can be initiated for any transaction by clicking on the ‘send refund’ button next to the transaction on the merchant dashboard.
• Refund initiation in bulk through files: Businesses can issue refunds in bulk using a .xlsx, .xls or .csvfile. Once the file is uploaded, the details are picked up within 60 minutes for refund processing.
• Refund initiation via APIs: Businesses can integrate with PayU’s refund APIs to initiate refunds for any transaction processed via PayU.
• Payment methods supported: Refunds are supported on all payment methods powered by PayU. Refunds are issued back to the source, which means the money is credited to the customer’s source account used for making the payment. For instance, if a transaction is performed using a credit card, the refund will be pushed to the same credit card.

Refunds can be full or partial

• Full refund: 100% of the amount paid is returned to the customer.
• Partial refund: Depending on the customer’s request, refunds can also be initiated for amounts less than the total transaction amounts. Multiple partial refunds can be made until the full amount has been refunded.

Refund processing

Once a refund is initiated, it is queued in PayU’s system for processing. After passing internal validations, the refund request is raised to the banking partners for processing. Each bank has its own process for making refunds.

Once the refund is processed successfully, money is credited to the customer’s account, and the refund status is communicated to the business via APIs, the dashboard, or webhooks.

A typical flow for card refunds looks like this:

If a refund fails at a banking partner’s end, PayU can internally retry processing it with the banking partner. This is to ensure high success rates for refunds. This retry functionality is configurable at a merchant level and is enabled for all merchants by default.

How long does it take to process a refund?

When a business initiates a refund request with PayU, it is instantly moved forward to the banking partner for processing. Depending on the bank’s processing time, it can take up to five to seven business days for the refund to reflect in the customer’s source account.

How to track refunds

Once a refund is initiated, it can be in either of these stages:

SUCCESS: This indicates that the refund has been processed successfully.

FAILURE: This indicates that the refund processing failed. No funds are deducted from the merchant’s settlement for such refunds.

IN PROGRESS: This indicates that the refund has been raised to the bank for processing.

REQUESTED: This indicates that the refund is sent to the bank for offline processing. In such cases, it takes up to five to seven business days for the credit to reflect in the customer’s account.

Businesses can track the refund status and details via the dashboard and APIs.

Here’s how refunds appear to businesses

·         Through the PayU dashboard

Businesses can see the refund requests created, their status, and other details under the ‘Refunds’ tab on the dashboard. Refunds can be filtered based on their date of initiation and refund status. You can also search for refunds with transaction IDs and download refund reports.

When you click on the transaction ID, you can see the ‘transaction details’ page, which contains payment, refund, and settlement details for that transaction.

You can find the refund details under the ‘Refund Activity’ section. You can view the refund history by clicking on the ‘view history’ button. This shows a timeline view for each refund, highlighting various stages in the refund processing lifecycle.

·         Through APIs

Merchants can also enquire about any refund status and details by integrating with refund enquiry APIs.

·        Refund communication

PayU supports webhooks or callbacks for the following events:

1. Refund status updates: Callbacks for refund status updates can be sent on a URL configured by the business. These callbacks can be configured for refund successes, failures, and all status updates.
2. ARN generation: An Acquirer Reference Number (ARN) is a unique number generated by banks for online transactions. This ARN is generated within 24-72 business hours of a successful refund. A callback for successfully uploading ARN can be made to the URL configured by the business.

How to fund your refunds

PayU does not charge any processing fees for refunds. However, transaction fees PayU charges on successful transactions are not reversed into the business’s account.

Refunds can be sourced from:

1. Daily settlements: The refund amount can be deducted from the business’s daily sales till the amount is exhausted. By default, all refunds are deducted from the business’s daily sales.
2. Overdraft account: If a business does not wish refunds to be deducted from its daily sales, PayU supports an overdraft functionality that allows the business to park additional funds for refunds with PayU. In such cases, the business needs to pre-fund its overdraft account for refund processing.
3. Combination of business’s daily settlements and an overdraft account: In cases where the business’s daily sale is insufficient, additional funds parked by the merchant in the overdraft account can be used to process refunds.

How do chargebacks differ from refunds?

A chargeback is raised by the customer to the issuing bank for many reasons, like a fraudulent transaction or unsatisfactory product or service delivery. On the other hand, refunds are initiated by the business at its customer’s request.

Initiating and processing refunds is extremely easy and fast with PayU. To learn more, read this dev guide.

The post Earn Your Customers’ Trust with PayU’s Hassle-free and Fast Refunds appeared first on PayU Blog.

Now, we have created PayU Assist– a help center where you can “chat with PayU Buddy” and find answers to all your queries. It is an interactive yet simple place where you can find answers, raise tickets for queries and also track them.

This is how our new PayU Assist Page looks like:

To access PayU Assist, follow these simple steps:

1. Go to help.payu.in
2. Log in with your account for personalized answers or click on “I don’t have a business account on PayU” for general queries.
3. Don’t find satisfying answers, “Raise a ticket”

See how it works!

Once you reach the new PayU Assist page, you will have to select if you have a business account with PayU or not. This we ask you so that we are able to process your grievance faster and provide you with a suitable solution.

Let’s say that you click on “I don’t have a business account with PayU”. You will see a chat message appearing on the same window from “PayU Buddy” asking you to choose from options of queries that you might have:

If you choose any one of the queries listed by us, you will see PayU Buddy providing you with a step by step solution for the same. Also, it will ask you, “Did we resolve your issue?”

Click “Yes” if your issue has been resolved. On clicking “No”, you will find the PayU Buddy asking you to “Raise a ticket” or going for a solution to a new query.

Raise a Ticket

Once you click on “Raise a Ticket”, a new window will pop up on your screen asking you to fill in more details about your query.

You have to fill relevant details such as your name, email ID and contact number. Select the category of your issue. You must select the most accurate one. After doing so, you must select your “issue sub category” as well.

Explain you problem in the window. You can also attach relevant documents or screenshots of the issue that you are facing. Just click on “UPLOAD FILE” and attach documents/excels explaining your issue here. This will help us understand your problem better.

Click on the recaptcha and then “Submit”.

After you submit your query, you will receive a message on your chat window with your Ticket ID.

What next? Track Your Query.

You can track the status of your query by clicking on the link in the chat window or by clicking on the link sent to you by SMS or email.

After you click on your “track query” link, you will land on a page like this:

Enter your contact number and click on “Check Status”. You will be asked to enter an OTP, sent on your mobile number for security reasons. Enter the OTP and click on “Verify”.

Next, you will land on to a page like this:

On this page, you can check the date on which the query was raised and also the expected resolution date.

Note: The expected resolution date will be 3 working days.

You can view the status of all your old and new tickets by clicking on “View History”. This will help you track the status of all your opened and closed tickets as well as know that we are working on it.

You can also add further information about your query or upload files by clicking on “Add Comment”.

In cases, when you have a business account with PayU just click on “I have a business account with PayU”. And click on “Login” to get instant answers to your most important questions.

After you do so, you will see a list of suggested issues that we feel you might be facing. Click on one of the issues for instant answers from PayU Buddy or you can just go ahead and “Raise a Ticket”. The entire process will be the same as mentioned above.

After your query has been resolved, you will get a notification from PayU to provide feedback on the same. Make sure, it’s honest!

One Year after PayU Assist Launch: PayU Witnesses 70% Reduction in Merchant Queries

We are proud to share that PayU has achieved a remarkable 70% reduction in weekly merchant queries and a 95% reduction in retail buyer queries, since PayU Assist’s launch last year. Read the entire story here.

See what our customers have to say!

The PayU Assist bot is available 24*7, which is good for a round-the-clock business. It’s very convenient as my staff can solve problems on their own, without needing too much help from seniors. Time spent on query resolution has really come down. We don’t face too many issues with PayU gateway, but most of the problems we face are solved quickly and effectively by the Assist App, said Ankur Sharma, Business Head, Feepal. Feepal provides online fee payment solution to educational institutes. 

Conclusion

We will continue to think of more ideas and plans in order to cater to the evolving online payment needs. We understood the need of having one communication platform to resolve all your queries and therefore created “PayU Assist” for all of you. We hope this new feature will help both, us and you! For more details,

The post PayU Assist: One Place to Resolve All Your Queries appeared first on PayU Blog.