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Resolving Payment Issues

Updated

Payment issues can occasionally arise, whether during retailer transactions or brand payouts. This guide provides common troubleshooting steps to address payment failures and inquiries effectively.

Troubleshooting Payment Failures

1. Verify Payment Information

  • Ensure that all payment details entered during checkout are accurate.
  • Check for expired credit or debit cards, and update them if necessary.

2. Sufficient Funds

  • Confirm that there are sufficient funds or credit available in the selected payment method.

3. Retry the Transaction

  • If the payment fails, wait a few minutes and try again. Temporary issues may resolve automatically.

4. Use an Alternative Payment Method

  • If retrying the same method fails, use a different credit card, debit card, or payment option.

5. Contact Support

  • If the issue persists, retailers should contact brands@thefolklore.com for assistance. Provide details such as:
    • Order number
    • Payment method used
    • Error message (if applicable)

Payout Inquiries for Brands

1. Confirm Bank Details

  • Log in to The Folklore Dashboard and ensure your bank account information is correct under the Payment Settings section.
  • Update bank details at least 48 hours before an anticipated payout to avoid delays.

2. Payment Timeline

  • Payments typically take 2-7 business days to process, depending on the banking institution and country.
  • If you’ve not received payment within the expected timeframe, confirm the following:
    • The payment status in your dashboard.
    • Notifications about delays from The Folklore.

3. Currency Conversion

  • Payouts are processed in USD and converted to local currency if applicable. Verify the conversion rate applied by your bank or payment processor.

4. Fees and Deductions

  • Confirm any transaction or currency conversion fees deducted by your bank.
  • Ensure no incorrect charges are impacting the payout amount.

Resolving Disputes

If an issue arises that cannot be resolved through troubleshooting, follow these steps:

  1. Retailer Payment Disputes

    • Retailers with failed payments or incorrect charges should contact The Folklore immediately.
    • Brands should pause order fulfillment until payment is confirmed.

  2. Brand Payout Disputes

    • Brands should email brands@thefolklore.com with details of the issue, including the payout reference number and order details.

  3. Escalation Timeline

    • The Folklore aims to resolve payment disputes within 5-7 business days.

Preventing Payment Issues

  1. Maintain Accurate Records

    • Regularly update and review payment settings in the dashboard.

  2. Set Clear Payment Terms

    • Ensure retailers are aware of your payment terms and obligations before order acceptance.

  3. Monitor Notifications

    • Check for emails or dashboard alerts regarding payment updates or errors.

By following these steps, you can efficiently address payment challenges and ensure smooth transactions for both retailers and brands on The Folklore platform.

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