Consumers increasingly demand instant refunds, and businesses should take note. PYMNTS Intelligence found that 79% of consumers would opt for instant refunds if offered. Additionally, 39% are more willing to pay for an instant refund than an average disbursement.
Despite this growing demand, only 42% of overpayment refund receivers are given instant payout options. This lack of availability highlights a missed opportunity for businesses to improve customer satisfaction.
Percentage-based fees are particularly appealing, as they’re often cheaper for smaller refunds. Consumers’ willingness to pay underscores the importance of speed in financial transactions. By offering instant refunds, businesses can align with customer expectations and differentiate themselves in the market.
In a world where immediacy is increasingly valued, instant refunds are not just a convenience—they’re a necessity. Businesses that prioritize speed will thrive, while those that delay may lose customer trust.
Yours truly,
The Instant Refund Expert®
The Refunds Blog 