Payment
Credit Card
Credit Card Transaction Settlement
7 min
settlement 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}} {{cc}} {{paymethod}} 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 void 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 {{cc}} {{payment}} methods bearing {{the}} visa, mastercard, jcb, and amex logos can be made using {{the}} {{nicepay}} {{api}} or {{the}} {{bo}} provided for merchants refund 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 full refund 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 refund 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 the refund {{process}} for {{the}} {{cc}} {{paymethod}} from {{the}} {{merchant}} to {{the}} {{customer}} executes through {{api}} cancel (version 1 v1 cancel transaction docid\ dwr rkibl1bffo3gwzts | version 2 cancel api checkout docid\ nosop1r8knfg81vmkxsc , cancel api credit card docid 7iv2i0vhdqt0o1jwrrtgv ) or merchant back office docid\ s2zo71iysoasepjtevvn7 merchants aren't allowed to transfer funds directly to {{the}} {{customer}} this needs to be done to fulfill compliance with {{bank}} {{indonesia}} 's policies refund process the {{customer}} requests a refund application to {{the}} {{merchant}} the {{merchant}} requests a refund application to {{the}} {{nicepay}} {{nicepay}} requests a refund to {{the}} acquiring party the acquiring party requests a refund to {{the}} issuing party the issuing party returns {{the}} funds to {{the}} {{customer}} the issuing party changes {{the}} amount to be paid on {{merchant}} {{settlement}} see also {{visit}} {{the}} dispute & chargeback docid\ ejqvz0ayrvmvv7fx3vclx {{page}} to find out about dispute {{process}} and action to get chargeback {{visit}} {{the}} credit card faq docid 1jamanpr0 tuq4itp618p {{page}} if you want to find out about frequently asked questions related to {{cc}}