Refunds – iStore Pay

Processing a Refund

💡 Note: Before processing a refund, please ensure that the customer has the same card that was used to make the purchase.

In the event a different card is used, the acquiring bank is likely to withhold or decline the refund request.

To initiate a refund on iStore Pay, merchants can go onto the iStore Pay App.
Go to your transaction history.
You can either scroll or search for the transaction by date.
Select the transaction that you wish to refund.
You will have the option to send a receipt or refund the transaction, select refund.
You will be prompted to enter your password or verify your account using facial / biometrics authentication, this is to ensure refund is not processed in error or by someone not authorised to do so.
The full transaction amount will appear on your screen to be refunded.
- You can only refund the original transaction amount
- Once a transaction is refunded, it cannot be refunded again.
Ask the customer to tap their card or go onto their wallet App and select the card used for the purchase. Please ensure that the customer uses the same card as they used for their original purchase.
The refund will be processed, and you can send confirmation to your customer.
Refund timing:
Refunds can take up to between 7-14 business days to reflect in your customers account. These delays are dependent on the customer’s bank and is not within our control. Please contact us via any of our Support Channels if a refund has not reflected after 14 business days and we will investigate it further.
Refunds can be processed up to 120 days from the date of transaction.
If you want to refund a transaction outside of this window, we recommend using EFT instead.

When a refund is processed, it is deducted from the merchant's next payout.
If the refund amount exceeds the pending settlement payout balance, the remaining amount is carried over and deducted from subsequent payouts until it’s fully recuperated.

Refunds appear as separate line items on the transaction statement, showing the original transaction reference, refund amount, and date processed.

Reversal
- A reversal is when a transaction that was done on a day is reversed before ever being settled into a merchants account. It would be as though the transaction never took place and the funds are reversed and reflect in your customers account on the same day
Refund
- A refund is when the transaction has been settled in the merchant's account and is required to be paid out of the merchant account and back into the customer's account. Refunds take between 7-14 business days to reflect in your customer’s account.

There are no additional fees charged to the merchant or their customer when a refund is issued. The customer is refunded the full amount ie: R100 charged, R100 refunded.
The original transaction fee charged on that payment is not returned to the merchant. The merchant bears the cost of the original processing fee.