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Refund Policy

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Refund Policy

What is a ‘refund’?

When something goes wrong with a transaction (i.e. funds are sent to a wrong network), we can either forward the funds to a merchant or send them back to a customer on a request. This is called a refund.

I am a merchant and I want to receive a refund. What should I do?

First, you should contact our support team at [email protected]. In case of non-convertible transactions (when the funds are sent to a wrong network) we are enabled to send the funds to verified addresses provided by a Merchant in a Partnership Agreement.

When the transaction fails due to other reasons, we are enabled to refund you using an address from a Partnership Agreement. If you haven’t signed it yet, you can provide us with an intended address and validate yourself by a dust transaction.

What is a dust transaction?

It’s a process of sending a very little amount of crypto (lower than a minimal amount for transaction) to an address provided by NOWPayments support team. It’s needed to validate you as a person who has really taken part in the initial transaction. This is one of the measures of anti-money laundering (AML) and anti-fraud policy we conduct.

Why do I need to sign a Partnership Agreement?

A Partnership Agreement is a convenient way of whitelisting Merchant’s addresses. You can add all addresses you want to be used for refunds to Exhibit B ‘Whitelist of Addresses’. You won’t need to send dust transactions to verify them when a refund case occurs. After the Agreement is signed, the funds will be forwarded to one of the addresses with your approval.

Please note that when adding addresses to Exhibit B you confirm that you take all possible fraud and legal risks.

I am a merchant and I want to refund my customer. What are the steps?

You should contact our support team at [email protected]. If your customer agrees to receive the funds to the initial address, they will need to send a small amount of crypto to our address to cover a network fee for a refund. After that, we will refund them in 24 hours.

If your customer wants to change an address, s/he will need to send dust from the initial address or to pass a KYC procedure with a link provided, and cover a network fee.

When a refund is impossible?

Every case is handled individually. Sometimes an initial transaction fails because the amount sent was less than the minimal amount, and the only option we have is to send the funds back to the initial address. In cases of non-convertible transactions, a possibility of a refund depends on whether our support team can extract the funds. However, you should always contact us at [email protected], and we will do our best to help you.

I received the money, but I want to refund a customer. How can I do it?

Sometimes, customers ask for refunds because they change their mind on the purchase, the item doesn’t fit them, etc. In the traditional economy, you can simply reverse the payment, and this will complete the refund. In crypto, it’s a bit different. Since NOWPayments is a non-custodial service, we do not store your funds and have no control over them. If you want to make a refund, we can’t initiate it since all the money you received from a customer is in your crypto wallet. We don’t have access to it, but the refund has to go from your crypto wallet. Therefore, to make a refund, simply send your customer the required amount of money from your crypto wallet. You can check the exact sum in your Account, you can use Payment ID to find it.

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