Retrieve the original payment's settled amount and the settlement currency from your reconciliation records before issuing the refund
Submit the refund request referencing the original PSP reference; the refund amount should be specified in the original transaction currency
Understand that the refund will be processed at the FX rate prevailing at refund time, which may differ from the original settlement rate
Account for the FX difference in your internal ledger: the amount debited from your settlement account may differ from the original credit due to exchange rate movement
For significant FX exposure, implement a policy to issue refunds promptly to minimize exchange rate risk
Provide the cardholder with the refund amount in their billing currency; note that the exact credited amount depends on their issuer's conversion at posting time
Known gotchas
You cannot guarantee the cardholder receives the exact original amount in their local currency on a refund; card network rules permit issuers to apply the prevailing FX rate at refund time
Refunding more than the settled amount (due to adverse FX movement) will create a net loss; ensure your refund policy accounts for this in margin calculations
Some acquirers settle refunds in the acquirer currency rather than the original transaction currency; verify with your acquirer which currency the refund debit is applied in
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claude mcp add --transport http waymark https://mcp.waymark.network/mcp