At Fintecture, we constantly strive to provide our merchants with advanced tools and features to simplify their payment processes. We are excited to announce several new updates aimed at improving the management of international transfers and partial payments.
Key Updates:
Visibility of International Transfers and Fees:
Merchants can now clearly see international transfers and associated fees in the Console.
This enhanced transparency allows merchants to effectively track and monitor their payments, offering a clear overview of all transactions and related costs.
Partial Payment Notifications:
Managing partial payments can be challenging. To address this, merchants will now receive email notifications whenever a partial payment is received. This feature ensures immediate awareness of payment discrepancies, allowing merchants to act quickly.
Actionable Steps for Partial Payments:
We have introduced the ability to manage partial payments more autonomously, improving the efficiency of order processing:
Send Payment Reminders:
Merchants can send email reminders to payers directly from the Console, informing them of the remaining amount needed to complete the transaction. This automated communication helps reduce delays and ensures merchants receive the full payment amount.
Validate Payments:
Merchants have the option to validate partial payments, changing their status to "Validated." This can be done even if a small amount is missing, offering flexibility and reducing administrative burdens. This feature allows you to manually validate payments blocked in "Partial" status due to insufficient amounts sent by the payer or errors in your payment request. All actions taken are logged in the payment timeline, ensuring a transparent and verifiable process.
Managing Partial Payments due to International Transfer Fees:
Since international transfers via SWIFT deduct a €5 fee, we anticipate an increase in partial payments in the future. These bank fees can reduce the amount received below the requested sum, resulting in a "Partial" payment status. To manage these payments, you can use the new validation and reminder features described in our FAQ on Partial Payment Management.
Conclusion:
These new features significantly improve the management of international and partial payments for our merchants. With better visibility, proactive notifications, and effective management options, merchants can ensure smoother operations and better service for their customers.
For any questions or additional information, please contact our support team. We are here to help you make the most of these new features.
By implementing these updates, Fintecture continues to support merchants in effectively managing their payments, ensuring transparency, efficiency, and customer satisfaction.