The refund process for online purchases now takes only minutes thanks to the Fast Refund technology from Mastercard and VISA, implemented by Ukrainian Processing Center (UPC) for its clients. 

Previously, refunds for canceled purchases, returned goods, or when ordering multiple items but buying only one, took 3-14 days to be credited back to the account. Now, this service is carried out much faster online.

Additionally, this refund option is safer for both merchants and buyers. The service is available through the merchant’s personal account or API integration. It significantly enhances the customer experience for e-commerce businesses, thereby increasing customer loyalty to their online marketplaces.

“Online shopping is becoming increasingly popular worldwide. Average order values are rising in online stores and marketplaces. Certain segments, such as the fashion industry, often involve large purchases. Accordingly, the speed of refunds directly impacts the customer’s shopping experience. The ability to receive money instantly is no longer just a convenience but a service standard expected by modern customers. Thanks to our service, online retailers can meet this expectation,” commented Oleksandr Spirin, Director of the E-commerce Department at UPC.