Refund delays can frustrate customers and damage brand loyalty. PYMNTS Intelligence highlights that 79% of consumers prefer instant refunds, with many willing to pay for the service. Percentage-based fees are particularly attractive for smaller refunds, offering a cost-effective solution.
However, only 42% of overpayment refund receivers are offered instant options. This limited availability is surprising, given the growing demand for speed across all payment types.
For businesses, offering instant refunds can transform refund experiences into moments of customer delight. Quick payouts show that a company values its customers’ time and convenience.
As consumer preferences evolve, instant refunds are becoming a key differentiator. Businesses that prioritize speed will retain loyal customers and stand out in competitive markets.
Yours truly,
The Instant Refund Expert®
The Refunds Blog 