Refund & Chargeback Policy

1. Overview

This Refund and Chargeback Policy outlines the procedures and responsibilities for refunds processed through Squid Pay's payment platform. As a payment processor, Squid Pay facilitates transactions between merchants and their customers but does not control individual merchant refund policies.

2. Merchant Refund Obligations

All merchants using Squid Pay must:

• Maintain a clear, written refund policy available to customers
• Display refund terms prominently before purchase completion
• Process legitimate refund requests in a timely manner
• Comply with applicable consumer protection laws
• Keep accurate records of all refund transactions

3. Processing Refunds

Full Refunds: Merchants may issue full refunds through the Squid Pay dashboard. The refund will be credited to the customer's original payment method within 5-10 business days.

Partial Refunds: Merchants may issue partial refunds for returned items, service adjustments, or as goodwill gestures.

Refund Timeframe: Refunds must be initiated within 180 days of the original transaction. Refunds requested after this period may not be possible through the card networks.

4. Refund Fees

When a refund is processed, the original transaction fee (0.33%) is not refunded to the merchant. This is standard practice in the payments industry as the costs of processing the original transaction have already been incurred.

5. Chargebacks

A chargeback occurs when a customer disputes a transaction directly with their card issuer. Chargebacks may occur for various reasons including:

• Unauthorized or fraudulent transactions
• Goods or services not received
• Goods not as described
• Duplicate charges
• Customer doesn't recognize the charge

6. Chargeback Process

Notification: When a chargeback is filed, we will notify the merchant immediately via email and through the dashboard.

Response Period: Merchants have 7-14 days (depending on the card network) to submit documentation to dispute the chargeback.

Required Documentation: To contest a chargeback, merchants should provide proof of delivery, customer communications, signed contracts, and any other relevant evidence.

Outcome: The card issuer makes the final decision on the chargeback. This process typically takes 60-90 days.

7. Chargeback Fees

A chargeback fee may be applied to cover the administrative costs of processing the dispute. This fee is non-refundable regardless of the chargeback outcome. Excessive chargebacks may result in account review or termination.

8. Reserve and Holds

Squid Pay reserves the right to hold funds or require a reserve balance for merchants with elevated chargeback rates or increased risk profiles. This protects against potential losses from future chargebacks and is in accordance with our Terms of Service.

9. Best Practices to Avoid Chargebacks

• Provide clear product descriptions and terms
• Use a recognizable business name on statements
• Respond promptly to customer inquiries
• Ship goods with tracking and delivery confirmation
• Process refunds proactively when appropriate
• Maintain excellent customer service

10. Contact Us

For questions about refunds or chargebacks: