Refund is absolutely free regardless any amount required to be refunded. SmoovPay system will auto calculate what is the MDR needed to be refund. All you need to do is just enter the amount you wish to refund back to the customer and the rest of the job SmoovPay system will take care of it.
1. customer credit $25, and ask for $25 refund. (which our company has paid 0.97 smoovpay fee)
Merchant side -> Enter $25 to be refund in SmoovPay Account.
SmoovPay -> We will debit $24.03 from the Merchant Available Balance,top up $0.97 of the MDR charged previously and refund $25 dollars back to the Cardholder.
2. customer credit $25, used up $15, and ask for $10 refund (which we paid 0.97 as well)
Here is the example for illustration,
Transaction value $25 and the MDR is $0.97. In the event of you refunding $10, you need to enter the amount $10 to be refunded to the cardholder. However, SmoovPay system will only deduct $9.70 from your Merchant Account Balance. The remaining $0.30, SmoovPay will top up to make the refund amount back to the cardholder $10.