Consumers are increasingly willing to pay for speed when it comes to refunds. According to PYMNTS Intelligence, 79% of consumers would choose instant refunds if available—a 17% rise since September 2023.
This trend reflects a growing appetite for immediacy across all payment types. Interestingly, consumers are 39% more likely to pay a fee for an instant refund than for an average disbursement, with percentage fees being the preferred choice for smaller refund amounts.
Despite this demand, only 42% of overpayment refund receivers have access to instant refund options. To deliver a superior customer experience, businesses should prioritize instant refunds, meeting consumers’ expectations for faster payouts.
Yours truly,
The Instant Refund Expert®
The Refunds Blog 