Eight months after launching the Fast Refund service, Ukrainian Processing Center (UPC) has processed more than 20,000 instant refund transactions for e-commerce customers. 

Powered by Mastercard and Visa technologies, the service became available to UPC partners in February 2026 and continues to see growing demand among online merchants.

Fast Refund enables merchants to return funds to customers within minutes after an order cancellation or product return. Previously, this process could take anywhere from 3 to 14 days, depending on the issuing bank and the specifics of the payment infrastructure.

The service is particularly relevant for e-commerce segments where customers frequently purchase items with the option to select later or return them, including fashion, consumer electronics, and online marketplaces. Instant refunds not only enhance the customer experience but also help merchants increase customer trust and loyalty.

Fast Refund is available through both the merchant portal and API integration. The solution ensures a transparent refund process for both buyers and sellers.

“Surpassing the milestone of 20,000 transactions confirms that the market needs fast and convenient post-purchase customer service tools. Today’s consumers expect not only fast delivery but also rapid refunds when they cancel purchases or return products. We continue to see steady growth in interest in Fast Refund among e-commerce market participants,” said Oleksandr Spirin, Director of the E-commerce Department at UPC.

According to the company, Fast Refund helps online merchants reduce customer support inquiries about refund statuses, improve the overall customer experience, and strengthen their competitive position in the e-commerce market.

UPC continues to expand of payment services portfolio, introducing modern technologies that meet the growing expectations of users of digital financial services.