What is Uvodo Payments?
Uvodo Payments is a native payment gateway built into Uvodo admin panel. It's activated by default for the checkout upon creating an account on Uvodo.
Uvodo Payments make it easy for small businesses to accept card payments in more than 135 currencies globally. ACH will be enabled soon.
With Uvodo Payments, small businesses can start accepting payments, without having to set up a merchant account or any third party payment gateways.
How payments are processing?
When you receive the payment with the Uvodo Payments, the transactions immediately appear on the 'Upcoming' balance before they are moved to the 'Available' balance.
You can create a virtual Uvodo Card to spend your collected payments from the 'Available' balance. Or, you can pay out the money to your bank account.
If you've already created the Uvodo Card, you can spend your available balance in your Uvodo Wallet with the card right away.
Uvodo Payments supported currencies
With Uvodo Payments, you can collect payments in more than 135 currencies.
Here are the list of currencies that customers can make payments through Uvodo Payments.
Countries Uvodo Payments is not enabled
Here is the countries that Uvodo Payments is not enabled to make payments:
Central African Republic
Democratic Republic of Congo
North Korea (Democratic People's Republic of Korea, DPRK)
Uvodo allows you to sell your products and services in the currency of your choice.
You can select the currency you want to show in the storefront from:
Settings → General → Standards and formats
Uvodo Payments conducts all transactions in United States dollars (USD).
Even though we showcase your products in various currencies from our selection, the final charge to your customers is in USD. We achieve this by utilizing up-to-the-minute, mid-market exchange rates to translate purchases into USD for processing.
Uvodo Payments fee is 2.9% of a purchase, plus a flat 30¢ (cents) transaction fee per successful card charge.
In addition, a 1% fee is applied in cases where currency conversion is required.
Note that Uvodo keeps funds in USD. Payments in currencies other than USD are automatically converted into USD at the daily exchange rate.
In many instances, Uvodo will facilitate a full refund on your account and subsequently deduct the refunded amount (minus our platform fee) alongside a $15 dispute fee from your forthcoming payment.
Please note that in many instances, Uvodo will facilitate a full refund on your account. The refunded amount (minus our platform fee) along with a $15 dispute fee will be deducted from your available balance (in Uvodo Wallet). If you don't have a sufficient balance, your account will go into the negative, and the amount will be deducted from future payments.
Refunds and Chargebacks
Uvodo encourages sellers to independently establish refund policies that align with their unique business requirements. Should you opt to provide refunds, these can be processed through the Uvodo dashboard whenever necessary. Refunded amounts, after deducting our platform fee, will be subtracted from your upcoming payment.
Uvodo encourages sellers to make their own decision about refund policies based on their own business needs and requirements. If you do choose to offer refunds, they can be issued at any time via the Uvodo dashboard.
The refunded amount (minus our platform fee) will be deducted from your next payout. That being said, Uvodo reserves the right to issue refunds within 60 days of purchase, at its own discretion, in order to prevent chargebacks. So if you choose to have a "no refunds" policy, be aware that customers can issue chargebacks at any time against their purchases.
A chargeback, also known as a charge reversal or dispute, occurs when a customer requests their credit card provider to cancel a charge listed on their credit card statement. Chargebacks are commonly initiated due to suspected fraud.
For the most part, Uvodo handles chargebacks on your behalf stemming from your sales. In many instances, we will facilitate a full refund on your account and subsequently deduct the refunded amount (minus our platform fee) alongside a $15 dispute fee from your forthcoming payment.
Chargebacks can materialize for various reasons:
Unauthorized card use, prompting the credit card provider to nullify the charge.
A customer failing to recognize the charge and subsequently seeking a reversal.
A customer asserting non-receipt of a paid product, leading them to involve their credit card provider in charge cancellation instead of directly requesting a refund from you.
When a chargeback is encountered, we will provide comprehensive details to the payment provider in an effort to advocate on your behalf. However, within the confines of legal regulations, our involvement is limited to building the case. The final decision resides with the payment provider after we present our case.