The payment process is one of the most important stages of your order placement. Yet many things can go wrong with the payment, which not only costs you a loss of money but also devastate your credibility. To help merchants get rid of these bad scenarios, we’ve updated 2 brand new features for Atom8, allowing for capturing or voiding payments when necessary.
In short, capture payment allows merchants to authorize the transaction without actually withdrawing it from the customer’s account. A captured fund means that the amount of money is reserved for transactions and cannot be spent anywhere else. This process can last from 7 to 30 days depending on the payment gateway you’re using.
Capture payment can help avoid fraud and increase customer satisfaction. For example, if your customer wants to order a product that is currently out of stock, you can let them backorder the item and capture the money from their account. This way, your customer doesn’t have to pay until they receive the product. At the same time, you have the money secured and might get rid of delivery fraud.
Void payment refers to the act of canceling the order and returning any funds that may have been authorized. This is often implemented in case of potential fraud or product mischarge. Normally, it takes 2 to 3 days to complete a void transaction request. Until that, the payment status would be set as pending.
For example, you notice a fraudulent transaction from a customer whose email address includes “.name” before. In order to prevent future risk, set up a workflow to void their payment as soon as a new order is placed. Then, there’s no need to worry about potential fraud from them.
Manage your payment for a healthy business
All in all, the ultimate goal of two new Atom8 features, capturing and voiding payment, is to prevent your store from potential financial risks. With these functions, you can manage your payment while running on Atom8 without installing another app.
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