Payment Overview

Overview

To accept a payment from a customer, you must first create a charge. Create direct charges when customers transact directly with a connected account, often unaware of your platform’s existence. With direct charges:

The payment appears as a charge on the connected account, not your platform’s account.
The connected account’s balance increases with every charge.
Your account balance increases with application fees from every charge.

This charge type is best suited for platforms providing software as a service. For example, Shopify provides tools for building online storefronts, and Thinkific enables educators to sell online courses.

Card Payment

Create a charge directly on a connected account. Customers are often unaware of your platform’s existence. You can add an application fee to the charge which is transferred to your platform’s account balance.

With this charge type:

You create a charge on your user’s account so the payment appears as a charge on the connected account, not in your account balance.
The connected account’s balance increases with every charge.
Funds always settle in the country of the connected account.
Your account balance increases with application fees from every charge.
The connected account’s balance is debited for refunds and chargebacks.
You can choose whether to have Metaprise debit fees directly from connected accounts or from your platform account.

Refunds

Manage and issue refunds for payments made to merchants for a previously processed payment.

The following apply for refunds:

You cannot refund more than what was originally collected
The refund will be returned to it’s original payment account. There’s a remark of refund in iMerchant Merchant Management System
Real-time refund
Support a full or partial refund

Note: Although the refund can be processed immediately, it takes time for the bank to process the fund. Therefore, the refund will not appear in buyer’s bank account in real-time. The standard is 5-10 working days.

Disputes

A dispute (also known as a chargeback) occurs when a cardholder questions your payment with their card issuer.

To process a chargeback, the issuer creates a formal dispute on the card network, which immediately reverses the payment, pulling the money for the payment.