If you refund an order, the refunded amount will be deducted from your next disbursement.
We’ll resume disbursements as soon as the amount has been covered. Your account will be in arrears until the refund amount has been fully offset against the next order(s) processed.
Say you process a refund of $100, Zip will process this refund to the customer, and your account will be in arrears.
- If your next order is more than $100, the refund amount will be offset against this order and you will receive the net settlement disbursement.
or
- If your next order is less than $100, you will still be in arrears, and won’t receive a disbursement until you have offset the remaining balance with orders.
Please note: Zip is entitled to 50% of the Retailer Fee applied to the relevant value of the Refund, where the Refund is within the first 10 Business Days of the Transaction Date and thereafter, 100% of the Retailer Fee.
Using the Merchant Portal to see your balance
Scenario 1
Merchant expected a payment of $67.54 but received a payment of $18.45
Use the date range in the Balance page of your Merchant Portal to view past transactions
As you can see there was a refund processed prior on the 9th of March for $49.09
The remittance will be as follows:
- $67.54 - $49.09 (refund offset)
- Remittance = $18.45
Scenario 2
Merchant expected a payment of $1763.95 but received a payment of $1688.55
As you can see there was a refund processed prior on the 15th of February for $204.19
The remittance payment will be as follows:
- -$204.19 + $128.79 = -$75.40 (remaining refund offset)
- A future purchase was made on the 21st of March:
- -$75.40 + 1763.95 = $1688.55
Please get in touch with our Merchant Experience team here if you have any queries.