Refund problems

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Barbara Novelli
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Refund problems

Post by Barbara Novelli » Thu Aug 29, 2019 5:58 pm

A customer bought a 600 KC item from me and needed to return it to get a different version. I refunded her through Kitely's refund system, but the system only gave the customer 400 KC. What happened to the other 200 KC, and why is the customer bearing this loss?
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Ilan Tochner
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Re: Refund problems

Post by Ilan Tochner » Thu Aug 29, 2019 7:44 pm

Hi Barbara,

What Kitely Market order number are you referring to?
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Ilan Tochner
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Re: Refund problems

Post by Ilan Tochner » Thu Aug 29, 2019 8:00 pm

Merchants can only refund bought items using KC (unlike Kitely that can refund an entire order using USD). When a merchant does that Kitely also refunds the sales commission it collected so that the buyer gets the full KC value of the item. That value is calculated using the normal (undiscounted) rate of 200 KC per 1 USD.

You'll note that this rate is different from that which is used in the marketplace listings for which the merchant is willing to accept KC. In those cases the prices are calculated using the best USD to KC rate that we provide which is 300 KC to 1 USD (that is the highest discount we provide when buying at least $50 worth of KC) . We do this so that people won't be able to get the item for less than it's listed price by first buying KC in bulk then using those to buy the item. This thus ensures that the merchant will get the maximum number of KC for the sale.

To summarize, had the buyer paid using KC they would have gotten back the exact same number of KC that they paid. However, as they paid in USD they got the KC value refunded to them using the normal USD to KC rate.
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