1. The buyer sends a payment instruction from his credit card to the issuing bank.
The bank advances money to our bank.
3. When the interest-free period expires, the bank informs the cardholder of the repayment date and amount.
After that, although we have completed the transaction, we can only guarantee the payment of 100% when the buyer takes the following actions:
(1) The buyer repaid in advance and the transaction was successfully completed. We paid successfully.
(2) The part paid by the buyer in advance is generally greater than the minimum repayment amount stipulated by the bank, and the rest is used as a bank loan, and the interest is confirmed to be paid, and then the principal and interest are gradually repaid. In the end, the buyer gets financing convenience, the bank gets interest income, and the seller gets payment in time, which is a win-win situation.
If the buyer proves that the payment transaction has been cancelled, the reason may be the return of goods, shortage of goods or quality problems, then the trouble comes: when the buyer notifies the issuing bank to cancel the payment, the issuing bank notifies the credit card clearing company, such as VISA, MASTER or our UnionPay, to ask for a refund. The credit card clearing company will deduct the refund from the payee's bank. Then the payee's bank will debit our card to the credit card clearing company. At this point, the following may occur:
(1) If there is enough money in our card, it will be deducted.
(2) If there is no money in our card, we need to deposit it. Then the problems that will arise at this time are: a, we confirm the refund, deposit it in the card, and refund it smoothly. We refuse to refund. If you don't deposit, you will be overdrawn, enter the overdraft blacklist, and face bank debt collection.