Why instant refunds build trust with your customers

We all want fair processes, especially when it comes to buying or returning online. That's why we want to have access to all the necessary information and facilities. And this is precisely what an instant refund offers.

We all like to be honest with each other. We like things to be fair and we don't want any "surprises"... And although it is true that this can be applied to any facet and subject of our daily lives, when we talk about ecommerce this is multiplied.

In an environment where we cannot deal with a person physically to solve certain issues if they arise, where we have to make the purchase through a screen, it is important that the client has all the information to be able to make decisions before finalising the purchase.

And yes, we know that this transparency is necessary during the purchasing process, but... what about after-sales? The great often neglected part of ecommerce.

Quite simply it’s just as important to build trust at this point as it is during the purchase. It is crucial to captivate your customer and build customer loyalty. And to do this, it is essential to have fair and clear processes.

To achieve this, it is important to include all the information related to the purchase and post-sale process, something we talked about in our Post-sale Report 2023, which includes aspects such as:

  1. Descriptions and images that reflect and detail what the product is like.
  2. Which payment methods the customer can choose from.
  3. Information on the delivery of the product: delivery times, costs, etc.
  4. Details about discounts and promotions. 
  5. What your return and exchange policy is.

We could dedicate a whole post to each of the above points, but at Reveni we want to focus on the last one. 

Offering a flexible returns policy has become a priority for ecommerce. Listening to the needs of customers to facilitate different return options as well as promoting changes to streamline certain processes is essential. But it is equally important to communicate these options appropriately and to show full transparency to facilitate customer decision making.

The instant refund is precisely one of the options that most boosts this trust between ecommerce and customer, and vice versa. Why?

Read the question below and think about the answer... If when you shop online the first thing you put down is your money, even before you receive any product, why is it that in the case of a return the money is the last thing you receive? 

Making it easy for the customer to receive a refund in just 6 seconds is an act of trust. We don't know if that customer will send the product they want to return or if they will send anything else. But what we can do is evaluate the behaviour and the information provided by the customer. By developing our own risk model we are able to identify potentially fraudulent transactions and cancel them. With this, we give the ecommerce all the peace of mind it needs.

In addition, it is equally important to include in the Returns Policy section all the information related to this process: deadlines, how the request is made, how to send the return, etc. Everything must be detailed so that the customer has all the necessary information before making any decision.

On the other hand, the customer also trusts the ecommerce because he knows that he is satisfying a need. It has listened to them and is committed to improving its returns and exchanges process so that they enjoy a better experience. 

In the end, there is a two-way relationship between the two parties that benefits both. 

  • The customer enjoys a much simpler and more flexible process, getting their money back in just 6 seconds.
  • The ecommerce knows that they are not taking any risk because they have a solution like Reveni to cover them against any fraud.

Instant refunds may seem like something that only a few online shops can benefit from. But that's not the case. At Reveni, we are committed to democratising this option for all online shops to improve the operation of their teams while their customers enjoy a better post-sales experience.

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