Refunds can be a make-or-break moment for customer satisfaction. Today’s consumers want their money quickly, with 79% preferring instant refunds if available, according to PYMNTS Intelligence. Many are even willing to pay a fee for this convenience, with percentage-based fees being particularly appealing for smaller disbursements.
Yet, only 42% of overpayment refund receivers are offered instant options. This is surprising given the broader trend toward financial immediacy. For example, 93% of truck drivers and 58% of gig workers report they would pay fees for faster payouts.
Offering instant refunds can turn refunds from a source of frustration into an opportunity to delight customers. Quick payouts demonstrate a commitment to customer convenience and can foster loyalty in competitive markets.
Businesses that fail to offer instant refunds risk falling behind as consumer preferences shift. In a world where immediacy drives satisfaction, instant refunds are no longer optional—they’re essential.
Yours truly,
The Instant Refund Expert®
The Refunds Blog 