Last Updated: January 1, 2025
Non-Refundable Transaction and Payment Gateway Fees
Please be advised that any transaction fees, payment gateway fees, or processing charges incurred on a successfully paid order are non-refundable by Loongwa, regardless of whether the order is subsequently canceled or refunded.
These fees are charged by third-party payment processors and financial institutions (such as banks, credit card networks, Stripe, PayPal, etc.) for the service of processing your payment at the time the transaction is completed and authorized. This payment processing service is considered rendered instantly upon successful payment confirmation.
Crucially, these original transaction fees are typically not refunded to us by the payment processors when a refund is issued. Furthermore, payment channels often impose separate fees or costs associated with the refund process itself. This means costs are incurred within the payment channel throughout the transaction lifecycle (from initial payment to potential refund), and these specific costs are often non-recoverable by us.
Therefore, as these fees are non-recoverable by us and represent costs incurred for the completed payment processing service and potentially the refund transaction process initiated by the customer (in case of returns/cancellations), they will not be included in the refund amount issued to you. The refunded amount will cover the product cost and, if applicable per our policy, original shipping fees (subject to other policies). Any fees incurred within the payment channel between the customer and their financial institution for the transaction are borne by the customer, and similarly, transaction processing fees incurred by the merchant are borne by the merchant, with our policy being that these specific third-party fees associated with the completed transaction are not refundable by us.
We aim for transparency in our financial processes and appreciate your understanding that these specific third-party processing costs cannot be absorbed by us in the event of a refund.
Online Store Transaction Fee Refund Policy
Once an order is successfully paid, any transaction fees or gateway charges incurred during the payment process are non – refundable. These fees are essential for covering the costs associated with secure payment processing, fraud prevention, and maintaining reliable payment infrastructure. The payment gateways we partner with, such as PayPal, Stripe, and [Other Gateways], employ advanced security measures and technologies to safeguard your transactions. However, they charge us for these services, and unfortunately, these costs cannot be waived or reversed.
It’s important to note that in many cases, payment channels levy fees on both buyers and merchants. For instance, when you complete a purchase using a credit card or digital wallet, the payment gateway deducts a percentage of the transaction amount as a service fee from both parties. This two – way fee structure is a standard practice across the e – commerce industry and is beyond our control. As a result, any losses incurred due to these fees must be borne by each respective party.
We understand that this policy may seem inconvenient, but it is necessary to ensure the stability and security of our payment system. Rest assured that we are constantly exploring ways to optimize our payment processes and potentially reduce these costs in the future. If you have any questions or concerns about this policy, or if you need further clarification, please don’t hesitate to contact our customer service team [email protected]. Our representatives are available [Customer Service Hours] to assist you.
Thank you for your understanding and cooperation. We remain committed to providing you with an excellent shopping experience and look forward to serving you again soon.