Cancellation
A Merchant may terminate this Agreement at any time. Any fees based on monthly usage will be applied for the month in which the Merchant indicates their termination to us.
Peach Payments will process the cancellation provided that the Merchant’s invoices are paid up to date and there are no pending refunds, reversals, or chargebacks.
Any pending refunds, reversals, or chargebacks will be billed to the Merchant after the cancellation
Merchants can send a cancellation request to Finance@Peachpayments.com with the Subject: Account cancellation
Refunds
When a Merchant processes a refund, or reversal or receives a chargeback, Peach Payments will deduct the refund, reversal, or chargeback amount from the Merchant's settlement in the week the refund, reversal, or chargeback was processed or received.
If the refund, reversal, or chargeback amount is greater than the transaction value processed, then Peach Payments will process a negative settlement. This means that we will debit the Merchant's account if the Merchant has signed a Debit order, otherwise, we will send the Merchant an invoice for the outstanding balance.
Partner refund process
The partner will receive a refund after the funds have been paid to Peach. The Partner will recover the refund from the merchant's future settlement.
If the merchant has no other future settlements in that month, then the refunds list will be shared with Peach. If Peach has successfully recovered the refund from the merchant, then we will settle the funds to the partner.
This is a month-on-month process.
All refunds processed in that month need to be recovered by the end of that month.
If the partner has recovered the funds from Peach, Then they do not need to recover from the merchant's future settlement.