Clik2pay extends capabilities with new refund feature

Canada-based fintech Clik2pay has launched a new capability, which enables retailers to send refunds to consumers through Clik2pay.

This new Clik2pay feature adds piece to the overall payment capabilities of retailers, giving them an option to provide refunds to customers when items are out of stock or if there is an issue with an order. The refund is deposited directly into the customer’s account and processed in near real time.

Debit card transactions cost retailers pennies to accept payments in-store, making it extremely affordable for them. As the pandemic has shifted volume online, retailers have absorbed greater costs, said Click2pay. The company added that as common as it is for customers to use debit to pay for in-store purchases, they often use credit cards online which can cost 100-times more than in-store debit.

Clik2pay is an online payments service that facilitates bill, invoice and online payments directly from customer bank accounts. Payments are requested by text message, e-mail, a checkout button or QR code, and are processed at a low cost. Clik2pay features for businesses include APIs, end-to-end payment tracking, real-time notifications, status updates and a complete settlement file.