There was a biiiiiiiiig announcement at Money20/20 today.
The day has finally come… there’s now a technology company fixing shitty broken refunds.
Enter TodayPay.
Going into Money 20/20 this week, we had very low expectations. Let’s fact it, it’s hard to have a high bar with the usual #fintwit clout chasing with the same trolls talking a big game with little to show for it. Exhibit A: TechCrunch last month.
But something changed today. Something transformational. TodayPay’s launch and their selection by Money20/20 as one of the hand icked startups changing the world. Money20/20 is THE payments industry event. Their platform and their endorsement is priceless. Suffice it to say, the industry is *finally* taking refunds seriously.
It’s time to say goodbye to the old, cumbersome refund process and embrace the future of refunds with TodayPay. TodayPay calls it Refunds as a Service™ for merchants, and a Better Refund™ for consumers. It’s seriously a very interesting way to frame the refunds issue we’ve been talking about forever.
We simply think about TodayPay in two words: Instant. Refunds. Or, as they even call it, the instarefund™. I like instagram and instacart, what’s not to love about getting an instarefund!
Repeat that back to yourself. They’re fulfilling exactly what we’ve been advocating for on this blog since day 1.
They pride themselves on being a “better, happier, faster refund”. Consumers will receive their refund immediately when the carrier scans the customer’s return into the system. And this refund can be in multiple different formats, like a gift card, bank transfer, or even spend directly back with online retailers. TodayPay’s motto is “my money, my choice” for a reason.
Founder Jeremy Balkin left his job at J.P. Morgan to pursue this venture. He had a big job there leading fintech, and you can Google him to learn more about it. Like all of us, he’s been dealing with shitty refunds for as long as he can remember. When we spoke with him, he told us, “The speed of a payment can change someone’s life.” Going further he said, “It’s about time someone tried to turn refunds into a smart channel instead of a place where money goes to die. Nobody was looking at it, so we got to work. That’s why we call it a Better Refund, because the status quo hurts merchants and consumers.”
After all, time is money. Maybe, one day in the future, we’ll no longer need to ask where our refund is. Or, as TodayPay put in their announcement, their brilliant report aptly titled Where Is My Refund?
Their team tells us the TodayPay app will soon be available for download in iOS and Android stores in 2024, but for now go and check out their website at www.todaypay.me to learn more.
And remember how we said we were working on something? It may or may not be an exciting collab!
Yours truly,
The Instant Refund Expert™
The Refunds Blog 