Objective
To facilitate the refund process with the purpose of improving both the Payer and Vendor customer experience when dealing with refunds due to incorrect payments through the PayCargo platform, by:
- reducing the number of days for the refund to take place, and
- simplifying the steps for the Vendor to return the funds.
Rights and obligations
PayCargo as facilitator:
- PayCargo is committed to inform the Vendor on a refund request on the same day that the request is submitted.
- PayCargo is committed to inform the Vendor on a refund request with detailed payment information and the refund reason to facilitate the Vendor’s approval/denial of the reimbursement.
- PayCargo is committed to maintain the Payer informed in all communications with the Vendor.
- PayCargo is committed to issue the approved refund to the Payer customer within 48 hours.
- PayCargo is committed to invoice the Vendor every 15 days for all refunds previously approved by the Vendor.
Payer Responsibility:
- The Payer’s responsibility is to provide detailed payment information and the refund
Vendor Responsibility:
- The Vendor’s responsibility is to approve/deny the refund request within 2-3 business days with the appropriate feedback to relay to the Payer.
- The Vendor’s responsibility is to pay the invoice upon
- PayCargo reserves the right to close a refund request case due to lack of response from Vendor exceeding 15 business days, informing both involved parties to resolve refund request directly between them.
