Tags: return

What’s the Difference between a Void and a Refund?

Let's set the stage first. Every time a sale processes, there are two unique steps. The first step is the authorization, which happens in real-time. The moment a card is swiped/dipped/keyed-in, the issuing bank of the customer’s card is contacted, and an authorization is generated. The card is either approved, or it’s declined. [...]

Refund Ratio

Your refund ratio is defined by Visa/Mastercard as total count of refunds, divided by your total count of sales, for any given time period. For example – if during the month of January you processed 500 sales, and had 10 refunds, your refund ratio would equal 10/500, or 2.00%. This would be considered an acceptable [...]