Below we broke down the Reap Card transaction process and listed out the different parties involved in a credit card transaction. We believed it will give you a clear idea of how a credit card transaction happens, and you may refer to the second part of the article for some common exceptions for potential troubleshooting.

When you initiate a purchase with your Reap Card, the merchant will send over transaction details like the transaction amount to Reap via the Visa network for authorisation.

After Reap verifies the transaction, we will put a hold on the funds in your Reap Card account. The transaction is now Pending.

Next, Reap will send an authorisation to the merchant, and the merchant can then submit the transaction for further processing. Once the payment is processed, the funds are released from Reap and ready for the merchant to capture.

After the merchant captures the funds, Reap will mark the transaction as Cleared.

It is worth noting that it may take 0 - 30 days for the transaction status to change from Pending to Cleared. Once the transaction is Cleared, Reap will include it in the monthly statement and the cardholder's entity needs to repay the balance due by the statement due date.

Authorization Reversals

Merchants can reverse an authorization (a pending transaction) before capturing the payment. If this happens, Reap will send an email notification to you. And the pending transaction record will be removed from your Reap Card transaction records.

Please see the list to view common reasons for a transaction reversal:

• The customer cancelled a purchase before the order confirmation

• Incorrect charge amount

• Duplicated transaction

• The hotel you stayed at wants to give you back the deposit held on the card

If you are unsure why you receive emails of authorisation reversals, we encourage you to contact the merchant listed on the notification to ensure the status of your purchases.

Refunds

Merchants can refund a Cleared transaction. If this happens, Reap will send an email notification to the cardholder. You will be able to see the refund reflected on your Reap dashboard Transaction page and Reap Card statement, in the form of credit that should cancel out the original charge made by the merchant.

Please see the list to view common reasons for a refund:

• The merchant arranges a refund after the customer request for return of goods

• The product is found out of stock or sold out after order confirmation

It usually takes 5 to 14 business days for a refund to be processed. You should contact the merchant to follow up if you are left waiting for too long. You may also request the merchant to provide an Acquirer Reference Number (ARN*) for your reference.

If the refund is not showing on Reap Card dashboard for more than 14 business days since the merchant's refund confirmation, please contact us with the Reap Card transaction ID and the ARN. Our team can help track the refund status for you.

* ARN is a unique number assigned to an online transaction and this code will be ready within 24-72 hours of initiating the refund