Refunds are broken.
They can be fixed.
Refunds are one of largest yet least understood components of modern commerce.
Legacy infrastructure hurts merchants and harms consumers.
Why Now?
Refunds need modern infrastructure
Refunds today are a patchwork of fragmented processes, manual operations and duplicative workflows. Refunds need intelligent routing, digital delivery, tender agnostic and enterprise-grade controls.
Refunds are not one size fits all.
Legacy refund infrastructure hurts merchants and harms consumers.
U.S. consumers want refund choice
Data shows that 92% of consumers want refund payment method choice. That means merchants offering an alternative to the original tender.
Returns are not refunds
Returns are a logistics problem that merchants are unable to control. Returns are shipping and postage workflows, not payments. Refunds are a payments solutions which merchants can control.
Refunds are not chargebacks
Chargebacks are an expensive payment reversal initiated by the customer's bank after the customer disputes a transaction. The bank investigates the claim and may reverse the payment if it determines the dispute is valid, with additional fees and charges added to the merchant.
Merchants with modern refund infrastructure see reduced disputes and chargebacks,
Eliminate chargebacks by fixing refunds
A well-designed refund experience can reduce the likelihood that frustrated customers escalate to chargebacks. If customers receive a fast, transparent, and predictable refund, they're less likely to seek a reversal through their bank.
This is one of the reasons modern refund infrastructure is becoming increasingly important: improving the refund experience can benefit both customers and merchants by resolving issues before they become formal payment disputes.
