Shop Collections: Payments from Returnly

  • Updated

Contents

  1. When Returnly Assumes Risk
  2. When Merchant Assumes Risk

 

With Shop Collections, Returnly additionally serves as the payments facilitator for any transacted uplift -- where a shopper exchanges for product with a higher cost than that being returned. Any such payments from Returnly will be made through a merchant's connected Stripe account.

 

Returnly Assumes Risk

 

For merchants who offer exchanges powered by Returnly Credit, Returnly will transfer up to 2 payments for a Shop Collections exchange. As an example of this transaction flow, with a 10% commission fee:

  1. Shopper buys a shirt for $100
  2. Shopper returns shirt, exchanges across Collections, and selects a $120 jacket
  3. Shopper pays $20 in uplift, using a credit card payment method, on the summary page
  4. Returnly places new order for $120 jacket in your Shopify instance
  5. Returnly initiates payment for $20 in uplift to merchant's connected Stripe account
  6. In assuming risk, Returnly initiates second payment, for $88, to merchant's connected Stripe account to assume risk [Credit Issued ($100) - 10% commission on Order Total ($12) = $88 Payment]
  7. Shopper returns original purchase of shirt valued at $100
  8. Returnly invoices merchant for $100

 

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Merchant Assumes Risk

 

For merchants who are configured to offer Automated Exchanges (upon "In Transit" event scan), the only payment transferred by Returnly will be for any uplift amount for a Shop Collections exchange. As an example of this transaction flow:

  1. Shopper buys a shirt for $100
  2. Shopper returns shirt, exchanges across Collections, and selects a $120 jacket
  3. Shopper pays $20 in uplift, using a credit card payment method, on the summary page
  4. Returnly places new order for $120 jacket in your Shopify instance
  5. Returnly initiates payment for $20 in uplift to merchant's connected Stripe account
  6. Shopper returns original purchase of shirt valued at $100

 

If there is no uplift on an Automated Shop Collections exchange, there will be no payment made by Returnly.

 

Where there is uplift, a shopper's credit card statement will reflect the payment with a description of Returnly* {MERCHANT NAME}:

Shop_Collections_Uplift_payment.png

Payments from Returnly will be recorded within the "Accounts Receivable" report, grouped by batches represented with unique Stripe IDs.

 

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