What is a transaction cancellation?
A payment made via iyzico can be cancelled within the same day (without taking the end of day report) in line with the banking rules. The difference of a cancellation transaction from a refund is that the cancellation can be made within the same day as the payment and it is not reflected as in -and -out payments on the card statements.
How am I going to make cancellations and refunds?
You can list all your transactions by using the transactions menu on the iyzico Control Panel.
It is sufficient to click on the “Cancel” button placed on the far right of the screen after you find the transaction you would like to refund or cancel from the list. When you cancel the payment, the full amount will be refunded to the user’s card. However, any cancellation transaction should be made within the same day of the payment. If not, "Cancel" button will not appear on the screen.
For refunds, it is sufficient to click on the "Refund" button placed on the far right of the screen after clicking on the breakdown of transaction. On the refunds screen, you can complete your refund by stating a certain amount of the relevant transaction.
Do we have to pay an additional fee for refund requests?
All refunds made after completed transactions are regarded as cancellation. There will be no additional fees that will be deducted when the refund is made.
When the refunds will be made to my customer’s card?
Refunds are completed online. Therefore, when you click "Refund the Payment" button, the payment will be automatically refunded. Refunded transactions will be reflected in the card accounts within 1-3 working days for payments made by credit cards and within 7-14 days for payments made by debit cards.
How am I going to refund the amount to my customer?
When you click on the payment’s details under the “Transactions” section on the iyzico Control Panel, you will see a “Refund Payment” button. By clicking this button, you can complete your refund transactions.
Once you confirm refund by clicking this button, please note that this action cannot be undone.
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