This API will creates a refund for a specific payin.
A Payin can only be refunded once it is in the COMPLETED status. Whether a Payin method is eligible for a refund depends on the is_refundable field returned in Get Required Fields by Payin method response.
If a refund is made on a Payin that was already settled, you may have to ensure that there is sufficient balance in your Payin wallet.
You have two options in this case:
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Wait for more funds to come in from consumers so you can initiate a Refund.
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Fund your Payin wallet by creating a checkout or load funds in your Organization payin wallet using a virtual account (if supported by the payin method). Note that top-ups via a virtual account won't incur a fee. But using a checkout page and funding your payin wallet would incur a nominal fee as the system can't differentiate if its a top-up transaction or done by an end consumer.
The refund will check your Available Balance of the payin wallet and once successful will DEBIT your payin wallet. Finmo will debit this fee plus taxes from your next settlment if the settlement-option is NET else it will be billed in your monthly invoice.
The Refund process will also hold the funds in your Payin wallet and debit it once refund is successful.
How to know if partial-refund or over-refund is supported?
Few payin methods support 'partial-refund' or 'over-refund' options. 'Over-refund' means refunding more than the original transaction. These are binary flags is_partially_refundable and is_over_refundable that are returned in Get Required Fields by Payin method response.
Currently, the Finmo platform does not support over-refund option.