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Configuring payment settings for exchanges

Configuring payment settings for exchanges

Modified on Thu, 3 Oct, 2024 at 12:19 AM

Introduction

In today’s e-commerce environment, enabling product replacements or exchanges is a crucial factor to build trust & loyalty in customers for brands. Studies and reports show that about 50% of returns in the fashion industry are due to size and fitting issues.

EcoReturn's efficient exchange process allows customers to exchange with same or different product. You can also choose when you want to collect the payment when customers exchange with a product of higher value.

Configuring Exchange Payment

To configure exchange payment settings you need to follow the below-mentioned steps:-

1. Go to Exchange under Settings

2. Scroll down to find the Exchange payment section.

3. Exhange payment settings will be applicable for both exchange with same product and different product.

4. Firstly, while exchanging with a variant of same product you can configure whether you want to collect the payment or refund the price difference in those cases or not.

5. If there are price differences in variants of the same product and you do not wish to collect it if exchanged with a higher value item, select the checkbox "Do not collect price difference if exchanged with same product variant".

6. Similarly, if you do not wish to refund the price difference if exchanged with a higher value item, select the checkbox "Do not issue refund if exchanged with same product variant".

7. While exchanging with a higher value item, you can configure the threshold above which you want to collect payment to improve customer delight This can be configured in 2 ways.

  1. Flat value based - You can configure to collect the payment if the price difference between new item and old item is more than a certain flat value. ($5, $10 etc). You can set it as 0 if you want to collect the full price difference in all cases.
  2. Percentage(%) based - You can configure to collect the payment if the price difference between new item and old item is more than a certain percentage value. (5%, 10% etc) of the original item cost. You can set it as 0 if you want to collect the full price difference in all cases.

8. You can integrate with any of our supported payment gateways for reliable payment collection.