Starting today, in shops that accept payment by bank card, it is technically possible for customers to have refunds on returned purchases deposited into their checking accounts using their bank cards. The money is in the customer’s checking account the following business day. The shop issues a signed electronic refund receipt to the customer as a guarantee that the money has been transferred.
Safe and easy
Shops wishing to offer their customers the option of electronic refunds need to contract this service from their bank. Any consumer who paid for a purchase using his or her bank card or credit card has the option of an electronic refund.
Karin Kersten, who is in charge of commercial payment services at ABN AMRO, comments, "Electronic refunds offer further ease of payment, for both shops and consumers. It also means that shops need to carry less cash, which in turn helps improve the safety and efficiency of payments."
Ongoing digitisation of payment services
Payment services have undergone a series of rapid developments in recent years. Consumers and businesses prefer to handle their affairs online with a minimum of hassle and complication. However, it is also important to optimise the shopping experience of customers in brick-and-mortar shops. Karin Kersten explains, "Our response is to continue to develop the possibilities for banking via the Internet and mobile platforms, but also to offer solutions for paying by bank card; the electronic refund option is a perfect of example of this."