In the fast-paced world of online shopping, the returns experience can feel like a frustrating step backward.
Lengthy processing times and delayed refunds can leave customers feeling perplexed and frustrated, negatively affecting their overall experience.
But what if refunds could be as quick and seamless as the initial purchase?
That’s the vision driving Refundid, a customer- focused fintech revolutionising Australia’s returns landscape by offering shoppers immediate refunds. Embedded in the heart of its offering is Zepto’s elegant API connecting Refundid to the real-time, account-to-account (A2A) payments tech powering Refundid’s service.
For businesses seeking to elevate their customer experience and streamline their operations, understanding how Refundid leverages Zepto’s real-time payment capabilities offers valuable insights.
The Impact of Instant Payouts
Refundid’s offering hinges on providing customers their refund in seconds. This is made possible by the modern rails of the New Payments Platform (NPP). Zepto provides the robust infrastructure that Refundid taps into to facilitate these real-time payouts on the NPP.
"Refundid accesses the NPP infrastructure via Zepto in order to power payouts of our instant refunds. These payouts deliver some of the core functionality of our instant refund product, and help us facilitate the refunds themselves."
Joel Aaron, Chief Product Officer and Director at Refundid
These aren't just slightly faster refunds; they are immediate disbursements that radically enhance the customer experience. By bypassing the delays and shortcomings of payments on Australia’s soon-to-be-retired legacy payments infrastructure, Refundid reimagines refunds, builds trust and loyalty, and can turn a potentially negative return experience into a positive interaction. For online retailers, this translates to happier customers who are more likely to repurchase.
Seamless Integration and Ongoing Support: A Foundation for Growth
Implementing new technologies can often be a complex undertaking, but Refundid found the integration and onboarding process with Zepto to be remarkably smooth.
As Joel recalls, "Integration and onboarding with Zepto was great. I was super impressed with how much content and support there was with such a new company (at the time). We were able to get up and running relatively quickly and had support available the entire time."
This speaks volumes about Zepto’s commitment to its partners, even in its early stages. The availability of comprehensive support and resources ensured a swift and efficient setup for Refundid, allowing them to focus on developing their core product without being bogged down by technical hurdles.
Exceptional Customer Service: A True Partnership
Beyond the initial integration, the ongoing support and service provided by Zepto have been a significant asset to Refundid.
"Zepto has been super supportive and highly responsive. It’s rare to find B2B platforms that are so attentive and supportive. We’re conscious that we’re probably not one of Zepto’s bigger customers, yet we receive swift, direct comms when something isn’t working as it should, and quick responses when we have questions no matter how small."
Joel Aaron
This level of attentiveness underscores Zepto’s dedication to fostering genuine partnerships. The proactive communication and quick resolution of queries ensure that Refundid can operate smoothly and consistently deliver its exceptional service.
Born in Real-Time: Instant Payments as a Core Principle
Unlike some businesses that may have retrofitted their systems to accommodate faster payments, Refundid was built from the ground up with real-time payments at its core. When asked if there was a time before real-time payments at Refundid, Joel’s answer was clear: "Nope, we kicked off our business with real time payments so we’ve been using it since the first day."
This fundamental integration of instant payments from day one highlights its critical role in Refundid’s business model and its ability to provide a truly differentiated customer experience.
Looking to the Future: Powered by a Trusted Foundation
As Refundid sets its sights on expansion, both within Australia and into the US market, the reliability and scalability of its underlying technology infrastructure are paramount. Joel’s insights into their future plans – "Scaling into the US is our big focus this year as well as building out our product in the Australian market. We’re tapping into real-time payment networks in the US with the hope of bringing our instant refunds product to the States" – demonstrate the ambition and growth trajectory of the company, founded on the robust payment capabilities provided by Zepto.
A Powerful Partnership Built on Innovation and Reliability
The partnership between Refundid and Zepto demonstrates the transformative power of modernised payment infrastructure and the real-time payments it enables. Reflecting on the partnership between Refundid and Zepto, Joel notes:
"Zepto is an amazing platform that has seriously revamped the entire payments industry in Australia. We use a bunch of different systems within our platform and Zepto is by far the easiest to manage with little to no issues ever. It’s become a core part of our entire system and allows us to provide an incredible customer experience. Because of Zepto and its direct access to the NPP, from day dot, our customers have been wowed by our unique returns experience."
For businesses exploring ways to enhance their payment processes, improve customer satisfaction, and drive operational efficiencies, the Refundid story offers a compelling example of the impact of embracing real-time account-to-account payments powered by a reliable and supportive partner like Zepto.