Refunding & Canceling Payments

Learn how to refund or cancel a payment.

Unlike any other cryptocurrency payment gateway, we offer our users a refund service. Our refund terms are very simple. It is designed to satisfy both the customer and the seller.

Our refund service is of 2 different types.

1. Payments received by sellers who use our “Point of Sale” application designed for local businesses that sell services or products are instantly sent to their cryptocurrency wallets. If the customer requests a refund, they should ask the seller, after settling the problem with him, the seller pays the customer back the fee paid by the customer through our app, and at the same time we pay the 1% processing fee.

Example:

The customer buys a kilo of tomatoes from an “X” grocery store and pays 1 bitcoin through Payenium. At this time, 0.99 bitcoins are sent to the seller’s wallet. The customer comes back an hour later and wants to return the tomatoes for some reason and get their money. After agreeing with the grocery store, the grocery store sends the recipient’s money back by pressing the “refund” button. In this case, we will refund the 1% fee we charge from the seller. In other words, the customer gets 1 bitcoin back.

2. We offer a completely different refund service for those who use our WordPress (WooCommerce), Magento, Opencart, Shopify, Prestashop, Drupal, Joomla, Tor, etc. plugins or API keys designed for businesses that receive online payments. In order to eliminate customer trust, money laundering and other disputes, we freeze the payments received from customers by new online businesses for 30 days. If no refund requests are received from customers within 30 days, we send the payments in the seller’s cryptocurrency wallet.

If a refund request is received from the customers and the customer proves this, the money will be returned to the customer during the agreement of the customer and the seller. If a refund request is received from the customer after 30 days, this is not included in our responsibility. In this case, the customer may request the seller to pay it back in accordance with the repayment terms offered to him.

In the refund transactions realized within 30 days, we add 1% processing fee from the seller to the amount to be refunded and send it back to the customer’s wallet. In other words, the customer gets his payment back exactly as in the “Point of Sale” application. 1% fee will not be refunded for refunds after 30 days.

Chargebacks

Payenium has not chageback fees. Since the Payenium payment gateway transacts with cryptocurrencies, we do not charge merchants any chargeback fees.

Additional info:

The blockchain system charges very small amounts of transfer fees over the time of cryptocurrency transfers. Learn more

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