Stripe, our third party payment processor, will no longer return the credit card processing fees from the original transaction when you refund a customer.
Refunded processor fees are not offered by most payment processing solutions (such as Shopify and PayPal). This offering was one of the many reasons we originally selected Stripe as our vendor. In September 2017, Stripe removed their refunded fees policy for new accounts created after September 14th. At that time, we were able to keep this change from going into effect for you because of our longstanding relationship with Stripe.
We have delayed this change to refunded fees as long as possible given the current global pandemic, however, Stripe has notified us and their other legacy businesses that they are no longer able to honor this feature beyond September 1st, 2020. While we are disappointed to no longer offer refunded fees as part of our agreement with Stripe, we are confident that Stripe is still the best payment processing solution for your business. (Stripe has been audited by a PCI-certified auditor and is certified to PCI Service Provider Level 1. This is the most stringent level of certification available in the payments industry. Read more about Security at Stripe here.) Stripe’s current credit card processing rate (2.9% + $0.30 per transaction) will not be impacted with this change.
We understand how these changes impact you and we will continue to advocate and research the best possible solutions for our business partners.
If you have any questions, please reach out to email@example.com.