The process of completing a transaction between the Merchant and the Bank that proceeds after the Customer makes an order payment to the Merchant using the Credit Card payment method. This process aims to provide information to the Merchant regarding the income received by bookkeeping, and whether the nominal transaction received is similar to the nominal recorded at the Bank.

Sometimes, Merchants experience a void or refund process that makes the Settlement process unsuccessful.



Transaction cancellation can be submitted if the transaction has made full payment (full amount) which has been successful and hasn't been through the Settlement process by the Acquirer Bank. If a void occurs, there will be no invoice printed on the cardholder's billing sheet.

Transaction cancellations for Credit Card payment methods bearing the Visa, Mastercard, JCB, and Amex logos can be made using the NICEPAY API or the Back Office provided for Merchants.



Refund is a process of repayment funds that occurs within the agreement between Customer and Merchant without any dispute between both parties. Customers can only request a Refund within 3 months from the transaction time. After the Customer requests a Refund from the Merchant, then the Merchant will report the Refund process to NICEPAY. There are 2 types of Refund, as follows:

Refund of all funds allows Customers to request a refund for all purchases from the shopping list at the Merchant and accommodates the Merchant to refund the Customer according to the nominal amount submitted.

Partial Refunds allow Customers to apply for refunds for particular items from the shopping list at Merchants and accommodates Merchants to refund the Customer according to the nominal amount submitted.