Apace Instant Refunds

Apace Refunds is an online refund solution that helps e-commerce businesses process instant refund payments in which the customer gets the refund into their account within seconds. Based out of Miami, the company now has its headquarters in New York City. Apace Refunds empowers businesses to process online refund payments and facilitates customers to get their money refunded into their debit card in no time. Apace Refunds for Magento 2 extension allows the Magento 2 store owners to implement a quick and easy refund functionality in their store.

Order returns and cancellations are unavoidable for most eCommerce businesses. For most payment service providers, the average time frame for processing refunds is 5-14 days. If customers in your Magento 2 store are unsatisfied with their purchase and want their money back, delaying the refund can further worsen their shopping experience. Issuing an instant refund can help you win back customers' trust.

The Apace Refunds for Magento 2 extension will allow your customers to receive instant refunds in their account and will improve their shopping experience with your store. The customers process their refunds in three simple steps:

1. Receives an instant refund offer email
2. Enters basic information
3. Gets the payment refunded instantly

Level up your customers' shopping experiences by offering instant refunds using the Apace Refunds for Magento 2 and enjoy improved customer loyalty, increased repeat customers, and more sales.

Accounts & Pricing

To start using Apace Refunds, first create a partner account with Apace Refunds. Integrate Magento 2 store with Apace Refunds using the API key details you will create on the Apace merchant portal. There is no Apace fee for merchants. The minimal fee of 1.9% is covered by the customers who wish to see their money refunded without any delay. Merchants also have the option to enable the revenue share option to get 0.5% back of all refunds processed via Apace. Revenue sharing increases the customer deduction to 2.5%. 

For any questions, please do not hesitate to reach out to our support team.

Security & PCI Compliance:

Using Apace Refunds, whenever customers add products to the cart and proceed to checkout, whichever payment method they use to complete the payment, the refund can be proceeded through Apace Refunds. The Apace refunds hosts the whole process, and customers' payment details are neither entered into nor stored on the Magento 2 server. Thus, ensuring a secure refund process. The integration of the Apace Refunds and Magento 2 store meets the SAQ A level of PCI compliance.

Apace has top-level ongoing security systems to make sure customer information and card details are secured and PCI compliant, all traffic from the client to server, are top-level decrypted, and any sensitive data has an extra level of encryption to meet our security standards.

Features

• The extension facilitates the store admin to create an instant refund offer for the orders.
• The admin can configure the extension from the Stores > Settings > Configuration > Apace section in the backend.
• The admin can enable the sandbox mode for testing purposes.
• The admin can integrate the Apace merchant account with Magento 2 using API generated on the Apace merchant portal by going to Integration > Add New Key then enter the following into the Apace Magento 2 app settings:
  • Secret Key
  • Public ID
• The admin can enter the validity period (in number of days) of the Apace refund request.
• The admin can choose the option to automatically initiate the default Magento refund request after the expiry of the Apace refund request in case the consumer didn’t accept the instant refund offer.
• Once the extension is configured, the admin can easily create instant refund offers by following these easy steps:
  • Go to Sales > Invoices.
  • Click on 'View' under the action columns of the respective invoice that you want to refund.
  • Click on the 'Credit Memo' option at the top right corner of the invoice page.
  • The default expiry date of the refund offer will be generated as per the app settings but can be changed manually
  • The default setting to trigger the regular Magento refund after the expiry of the request will be selected based on the app settings but can be changed manually.
  • Scroll down and click on the 'Refund with Apace' button to initiate the instant refund offer through Apace.
• On a successful initiation of request, the admin panel displays a success message having the customer's email address on which the refund link was sent.
• The customer receives an email regarding the instant refund offer displaying the order information such as items and total price, with a link to get the refund.
• After completing the refund process, the amount is instantly deposited to the customer's account upon submission of the request and the customer is redirected to the Magento 2 store on the refund success page and the order will be updated as refunded.
• An error message is also displayed on the admin panel when the merchant tries to avoid multiple refunds for the same order.

How Does The Extension Work?

Once the extension is installed, the admin can find the option to set the validity date of the refund request. The admin can choose to trigger the default Magento refund after the expiry of the Apace refund offer along with the 'Refund with Apace' button on the credit memo page of the invoices. Once clicking the button, an instant refund offer is initiated from the admin side, and an email with the instant refund link is sent to the customers.

The customers can find all the relevant details about the order in the email, along with the link to get the refunds. When completing the payment refund process, the amount is instantly credited to the customer's debit card, and he/she is redirected to the merchant’s store on the refund success page.

The default Magento refund is triggered (optional) after the expiration of the Apace refund offer if no action is taken by the customer.

Apace Refunds for Magento 2 extension makes it possible for the store owners to generate instant refunds.

For more information about the extension or in case of any doubts or queries, feel free to contact us.