When will the payments be transferred to my account?
An overview of payment process;
During Wednesday - Tuesday period we collect payments of successful transactions carried out on your website and adding a 22 days delay on the date of Tuesday and we transfer the total amount to your account. In addition, each week on Wednesday you can view the amount that will be credited to your account on the next Wednesday using the "Money Transfer" section on the iyzico Control Panel.
How can I check my payments?
You can check the payments of transactions carried out on your website using the "Transactions and Returns" section on the iyzico Control Panel.
When I integrate iyzico on my website, at what intervals will the payments be transferred to my account?
The guidelines you should pay attention when calculating the transfer intervals are as follows.
At iyzico payments made on a weekly basis.
The period from Wednesday 00:00 to Tuesday 23:59 represents one weekly period for payments made on the website.
Weekly payments will be credited in your account after 3 weeks.
As long as transactions are made, we will make transfers to your account each week. However, these transfers will not include the transactions of the last 3 weeks. For example; Payments in Week 1 will be transferred to your account in Week 4, payments in Week 2 will be transferred in Week 5, and payments in Week 3 will be transferred in Week 6.
What is the reason for the delay in transfers?
The most important reason for the delay is the chargeback risk in e-commerce. In addition, certain criteria applied by the partnering banks are another reason for the delays in transfers. Certain reporting requirements are fulfilled within the 3 weeks delay period and transfers are to be made after that. The delay period can be shortened in the future depending on the volume of your sales and products you are selling.
What is blocked period?
Blocked period is the time period between when the payment is received from your customer successfully and when it is transferred to your account.
What is money transfer period?
Money transfer period designates the frequency at which you receive customer payments.
What is cancellation?
The payment received by iyzico can be cancelled before the end of the day with respect to bank regulations. The differences of the cancellation from refund is that cancellation can be performed in the same day with the payment and does not cause any input- output in your credit card receipt.
How can I cancel and refund?
You can list your all performig from performs menu at iyzico control panel.
After you find out perfom you want to either cancel or refund, in order to cancel payment it is enough to click cancel button at the right hand side of the screen. When you cancel the payment, whole aount will be refunded to costums credit card. Hence, cancellation should be the same day as payment. Otherwise, cancel bottom would be invisiable.
It is enough to go to refraction details and cancel bottom at the right of screen to cancel payment. You can complete your cancellation by specify some amount of payment at the cancel page.
What is cost of refunds for me?
Refunds made after the transaction will be accepted with no deduction on payments.
How long will it take refunds to be credited to the customer's card?
Refund transactions are carried out online. Therefore, when you click the "Refund Payment" button refunding will be made automatically. The actual time the refund is credited on your customer's account may vary from 1 to 3 business days depending on the process employed by the bank.
My customer reported the refund is not credited. What should I do?
By requesting the details of the refund from your bank, you can provide detailed information to your customer about the issue.
How am I going to make refunds to my customers?
When you click the respective transaction on the "Transactions " section on the iyzico Control Panel, "Refund Payment" button will be displayed. Clicking on this button will suffice to perform a refunding.
We would like to remind that the process is not revocable after clicking the "Refund Payment" button, as refunding is performed online.
How does the billing process work?
If you are using the iyzico platform, you will not need to issue invoices to iyzico. Billing process of successful transactions via iyzico performed on your website will be carried out as follows.
You have to issue a closed invoice to name of your customer for the total amount paid by your customer, and ship the invoice together with the product.
During the transfer of the payment to your account, iyzico will issue an invoice for commissions and late interests to your company and deliver the invoices periodically.
Since iyzico is providing the infrastructure for payment transactions carried out on your e-commerce website, you can recognize these commission/service invoices in your accounting system as service costs for respective transactions.