Refunds & Returns
PayStand does not provide refunds. By accepting this Agreement, you agree to submit any and all refunds and adjustments for returns of your Merchandise through the Service to the Purchaser’s payment card in accordance with the terms of this Agreement and Network Rules. The Network Regulations require that you will (a) maintain a fair return, cancellation or adjustment policy; (b) disclose your return or cancellation policy to Purchasers at the time of purchase, (c) not give cash refunds to a Purchaser in connection with a payment card sale, unless required by law, and (d) not accept cash or any other item of value for preparing a payment card sale refund. Your refund policies must be the same for all payment methods.
If a Purchaser is dissatisfied with your refund policy, the Purchaser may attempt to Chargeback the payment. You may not bill or collect from any Purchaser for any purchase or payment by means of a payment card unless the Purchaser has exercised a Chargeback, you have fully paid for the charge, and you otherwise have the right to do so.
Full refunds must be for the exact dollar amount of the original transaction including tax, handling charges, and other. The refund amount may not exceed the original sale amount except by an amount equal to any reimbursements to the Purchaser for postage costs incurred for product returns. You will use best efforts to process all refunds within sixty (60) days after the original transaction date, and you acknowledge that refunds processed after that time may not be capable of being processed.
For processed refunds, PayStand will deduct the refund amount (including any applicable Fees) from (i) settlement funds owed to you from processing of other card transactions, or (ii) funds in any Reserve Account. If these funds are not sufficient, you authorize PayStand to initiate an ACH debit entry to your Bank Account in the amount necessary to complete the refund transaction to the Purchaser’s payment card. In the event the PayStand cannot access your Bank Account by means of ACH debit or otherwise offset the applicable amount in accordance with the terms of this Agreement, you agree to pay all funds owed to PayStand upon demand. You are solely responsible for accepting and processing returns of your Merchandise; PayStand has no responsibility or obligation for processing such returns.