Issuing Stripe refunds when using the Payoneer US Payment Service

A lot of people seem to link a payment gateway such as Stripe or Shopify Payments to their Payoneer virtual bank account. The payments they receive are automatically transfered to Payoneer when the payment gateway is linked to the US Payment Service account number.

 

What I'm wondering about is how refunds to customers are handled in this situation. Every now and then you need to issue a refund to a customer, and that is normally done by the payment processor refunding the amount directly from the bank account it's linked to, i.e. not from a credit/debit card. From what I've read, it seems Payoneer allows the US Payment Profile virtual account only to receive money and not paying out. Is this correct, and in that case, how should refunds to a payment processor be handled?

Comments

  • lorerodrilorerodri Member Posts: 21 ✭✭
    > @FreeMark said:
    > A lot of people seem to link a payment gateway such as Stripe or Shopify Payments to their Payoneer virtual bank account. The payments they receive are automatically transfered to Payoneer when the payment gateway is linked to the US Payment Service account number.
    >
    >  
    >
    > What I'm wondering about is how refunds to customers are handled in this situation. Every now and then you need to issue a refund to a customer, and that is normally done by the payment processor refunding the amount directly from the bank account it's linked to, i.e. not from a credit/debit card. From what I've read, it seems Payoneer allows the US Payment Profile virtual account only to receive money and not paying out. Is this correct, and in that case, how should refunds to a payment processor be handled?


    Hi FreeMark, please, can you tell me if you could get the information regarding refunds to customers?
  • NissimNissim Head of Community Administrator Posts: 3,604 ✭✭✭✭✭✭✭
    You are correct in that the US Payment Service cannot be used to send funds - it is a collection only account.

    If the company tries to charge the account, Payoneer will not allow the charge. In the event of chargeback, most account holders use their own credit/debit cards, which are linked to the payment gateway, to fund the request.
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