This paragraph refers to merchants who bear the cost of fraud according to the contract terms.
Fraud is identified when a customer disputes a purchase due to fraudulent use of card information. This declaration of fraud can be made up to 15 months after the first installment. In this case, the amount of the purchase financed to the merchant is totally de-financed on the following funding. This is also known as merchant reversal.
The processing of de-financing (or reversal) is carried out in the same processing as the funding: every evening at 7 p.m. from Monday to Friday.
This means that a fraud detected today will be de-financed (bank remittance and deposit of justification file) the next day at 7 pm.
The accounting justification will be in the file already sent for funding and therefore available on the SFTP every day except Saturdays and Sundays.
It will contain 4 records of type "FRD-Fraude" for a payment in 4 installments (4x) detected as fraudulent. These are 4 "FRD-Fraude" records that represent the amount of the credit installments cancellation.
Example of a de-financing due to a credit card fraud
Mr. Fraudster wishes to pay for his purchase of 300,00€.
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On 02/01/2021 at 5 pm, Mr. Fraudster, eligible for 4x, validates his 4X payment facility by paying the first installment worth €75.84. The reference of his order is n° 28.
In this case, we consider that the Merchant has an agio rate of 0,75%. The commission will be 300,00€ x 0,75% or 2,25€. -
On 02/02/2021 at 7 pm:
The bank remittance will be 297,75€ (funding amount of 300,00€ to which we deduct the commissions of 2,25€).
The accounting justification file will be :
NUM_FACTURE ;IDENTIFICATION ;DT_COMPT ;MT_BRUT ;S
0000000000000000028 ;DEB - Déblocage ;20210202 ;0000000030000 ;C
0000000000000000028 ;COM - Commissions ;20210202 ;0000000000225 ;D
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On 02/25/2021 at 10:00 am, Mr. Smith disputes the 75.84€ direct debit to his bank. The client's bank reimburses the client, and we reimburse the client's bank.
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On 02/25/2021 at 2 pm, Mr. Durand wishes to pay his purchase amounting to 400,00€. Mr. Durand, eligible for 4x, validates his 4X payment facility by paying the first installment of 103.12€.
The reference of his order is n° 33. In this case, we consider that the Merchant has an agio rate of 0.75%. The commission will be 400€ x 0,75% or 3,00€.
- On 02/26/2021 at 7 pm:
The bank remittance will be €297.75 (funding amount of €400.00 to which we deduct the commissions of €3.00 and the reversal of €300.00).
The accounting justification file will be:
NUM_FACTURE ;IDENTIFICATION ;DT_COMPT ;MT_BRUT ;S
0000000000000000033 ;DEB - Déblocage ;20210226 ;0000000040000 ;C
0000000000000000033 ;COM - Commissions ;20210226 ;0000000000300 ;D
0000000000000000028 ;FRD - Fraude ;20210226 ;0000000007500 ;D
0000000000000000028 ;FRD - Fraude ;20210226 ;0000000007500 ;D
0000000000000000028 ;FRD - Fraude ;20210226 ;0000000007500 ;D
0000000000000000028 ;FRD - Fraude ;20210226 ;0000000007500 ;D