Klasha Business

    August 26, 2024

    Refunds are now available on Klasha

    You asked for it, and now it’s here!

    We’re excited to announce that you can now initiate refunds directly from your Klasha dashboard.

    This new feature is designed to improve our merchants' efficiency and streamline business processes. We understand the need to reverse or refund payments for various reasons, so we’ve introduced refunds via API and dashboard.

    With this feature, you can initiate partial or full refunds quickly and easily.

    How does a refund work?

    A refund occurs when a customer pays for a product or service, but the service or product cannot be fulfilled. There are two types of refunds: full and partial.

    • Full refund: This is when the merchant returns the entire amount paid by the customer.

    • Partial refund: Here, the merchant refunds only a portion of the payment.

    Please note that the refund amount cannot exceed the original transaction amount. 

    Merchants can process refunds for two types of transactions: Collections and virtual account transactions.

    How to process a refund

    • Log into your Klasha dashboard

    • Click on the Refund Menu

    • Click Create New Refund

    • Enter the transaction reference of the transaction that needs to be refunded

    • Fill out the refund form and select the type of refund 

    • Confirm the transaction

    (For full refunds, the system sets the fee; for a half refund, the merchant sets the fee.)

    • Once you’ve confirmed, the refund transaction is initiated

    • The refund amount will be debited from your Klasha wallet

    • The customer’s card or account will be credited.

    Refunds are also available on the API, and merchants can initiate refunds programmatically without logging in to the dashboard.

    FAQs

    • Is there a fee for refunds?

    Ans: Yes, there is a fee for refunds. For full refunds, the system sets the fee; for a half refund, the merchant sets the fee.

    • Is there a timeline for refunds? 

    Ans: Typically, refunds are fully processed between 1-5 working days 

    • How do customers receive refunds from merchants?

    Ans: Refunds are reversed to the same channel the payment was received. 

    • How do merchants track their refunds?

    Ans: The refund tab on the dashboard can be used to track all funds.

    Questions? WhatsApp us at +14159933858 or send us an email.