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Coinbase adds partial refunds option for merchants

Coinbase has added a new feature with the goal in mind to help merchants who accept bitcoin payments process and manage payments more easily.

As part of an update from the San Francisco based bitcoin exchange and wallet startup, they have added partial refunds and overpayment flags to the merchant system.

Coinbase says that their merchant tools has a user base of 43,000 merchants. In addition, Coinbase reports that they have over 4.1 million users servicing 6.1 million user wallets. Coinbase is also one of the most well funded startups in the bitcoin space, receiving $106 million in venture capital.

In an update from the bitcoin company, Coinbase says that over the last several months they questioned their top merchants and their own customer support teams on how they could improve the Coinbase Merchant experience. The aim was simple: To create a hassle-free, silky-smooth experience for everyone involved.

The results of the latest merchant tools iteration is adding partial refunds for merchants who need to process a refund for a customer order. If a customer purchases several items and wants to refund just one, the new merchant tools allow you to easily refund a partial amount of bitcoin instead of their entire order.

coinbase-partial-refunds

As part of the change, a new flag has been added to customer orders that may have received an over payment. Overpayments occur when the wrong amount is sent for an order. Now for customer orders when the BTC amount exceeds the listed price, the order is automatically completed but flagged as ‘overpaid’. This way, the customer will successfully receive their items without merchant intervention.

In late June, Coinbase added PayPal as a withdrawal option, giving users more payment options. In the future, they hope to add support for other countries, and to support buys through PayPal too.

Tags in this story
Bitcoin adoption, bitcoin exchanges, Coinbase, Merchants, Partial Refunds
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david@bitcoin.com'
David Shares

David is a writer, researcher, and developer who is passionate about bitcoin and blockchain. He writes for Bitcoin.com, Blockchain.com, and is the founder of Bitcoinx.io (which was acquired by Bitcoin.com). David previously used to write and curate for Myspace and has worked in the fintech and payments space for over 15 years.