Linked Account Dashboard
Using Razorpay Route, you can split payments between multiple third parties, bank accounts or vendors by creating linked accounts for them. Also, you can manage settlements, refunds and reconciliations by interacting with these linked accounts.
Route helps you to process refunds with the same ease as splitting payments. A linked account can process individual and bulk refunds for customers from Razorpay Linked Account Dashboard using the unsettled balance. Also, linked accounts may take advantage of Refund Credits, a pool of funds created specifically to manage refunds. The refund capability needs to be provided from your Route Dashboard.
For example, you are an insurance aggregator. A customer logs onto your website and purchases a health insurance policy of ₹ 10,000 from Insurer A, and an add-on, cancer insurance for ₹ 5,000 from Insurer B. Using Route, you can split the transaction amount and transfer it to the linked accounts of insurers A and B. Suppose, the customer cancels the add-on policy and seeks a refund. Insurer B, that is, the linked account can directly refund ₹ 5,000 using the Refund Credits, right from their Dashboard.
The linked account can use the Dashboard to:
- Initiate Refunds
- View Reversals
- View Settlements
- Manage Account Settings
The linked account users must contact you to obtain access to the Dashboard. You can enable Dashboard access for them from your Dashboard. For more details, refer to the Route Dashboard documentation.
The linked account user receives an email with the login credentials, which they can use to log into the Dashboard.
The Linked Account Dashboard appears as shown below:
With the Linked Account Dashboard, refunds can be initiated at individual transaction levels or as a batch. Also, full and partial refunds can be made to customers.
By default, refunds are processed using the linked account’s unsettled balance. However, Razorpay Route provides the option to use a Refund Credits pool to process these transactions, instead of the existing unsettled balance.
Linked account must send an offline request to you to use Refund Credits. Upon gaining access, funds can be transferred to the Refund Credits pool through a specific account number shared by you.
Once enabled only Refund Credits can be used to process refunds. The Refund Credits can be seen on the Reversals screen as shown below:
To initiate a refund for an individual transaction from the linked account, follow the below steps:
- Navigate to the Transfers tab.
- Select the Refund to Customer option.
- Enter the refund amount and add a description in the Notes field.
To initiate a full refund from the linked account, follow the below steps:
- Enter the full transaction amount.
- Click Create Full Refund.
The screen appears as shown:
For a partial refund, the linked account must:
- Enter an amount lower than the total transaction value.
- Click Create Partial Refund.
The screen appears as shown below:
Using Batch refunds, you can process a large volume of refunds from the linked accounts.
Follow the below steps to initiate batch refunds:
- Download the Batch Refund Format - Click the download button to obtain the .csv format, wherein the transaction details can be entered.
- Enter the necessary information in the file.
- Upload the Batch Refund Format - After entering all the necessary details, upload the file.
Once uploaded, if the funds are sufficient, the batch file is processed.
While performing batch refunds, the linked account user must ensure that the refund amount is entered in paise and not in INR.
Once the batch refund has been processed, you can download the output file to view the reversals. In case some of the batch records were not processed, an error will be shown against those. You may then attempt a repeat refund after handling the errors.
Reversal is the process of moving the transferred funds from the linked account to your account. Reversals are initiated by you and can be viewed in this section.
All the payments that are settled to the linked account can be viewed in this section.
Linked account users can access and operate the following areas of Account Settings:
The details of the linked account appear in this section. Along with business details, bank details are also displayed.
The Profile section appears as shown below:
The following operations can be performed here:
- Change of Password
- Change of Display Name
The admin of the linked account can invite other team members to view the Dashboard by entering the email addresses. These team members are allowed to access all views except access for Bank Details in Profile and the Manage Team feature.