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Begin Normal and Instant Refund payments using LetsPe Dashboard and APIs for your customers.
There could be situations when customers request a refund of the payments made for the products or services bought or profited on your website or app.
If you are initiating a refund via using your LetsPe Dashboard. Our team will process your refund request and after verifying all the details, the amount will be credited in your account in 5 to 7 working days.
For the forestallment of chargebacks, LetsPe only does source refunds. It means that money is reimbursed to the payment system that the client used to make the payment. For example, if a debit card was used to make the payment, the refund is pushed to the same debit card. Also, in the case of UPI payments, the refund is pushed to the VPA used while making the payment.
Still, the reused refund will have a UTR (Unique Transfer Reference) in the message, If a chargeback is entered for an instantly reimbursed payment. This UTR appears against the ARN (Application Reference Number) parameter in the Refund reality. The UTR serves as proof of a refund completed between you and LetsPe.
Also, LetsPe passes the LRN (LetsPe Reference Number) of the payment in the Fund Transfer Request transferred for the refund. This ties the instant refund back to the parent payment, thereby serving as evidence of the refund. This data can also be used as a defence against a future chargeback or compromise case.
You can issue limited or full refunds using your Dashboard and APIs.
By default, the entire amount is refunded. If you issue a limited refund, make sure the limited refund option is selected and enter the desired value in INR.
No, we don't charge for the regular refunds. However, payment fees and taxes charged while making a payment are not reversed.