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Efficient Refund Systems

Returnly Sends Instant Refunds and Increases the Chances of Repurchasing

— October 17, 2016 — Business
'Returnly' is a tech start-up based out of San Francisco that is hoping to increase the amount of sales done online through a counter-intuitive means: by making the refunds process better.

In e-commerce, refunds are essential. Consumers are less likely to risk buying a product they haven't physically seen if they aren't confident that they can get a full refund on it. Rather than bristling at the idea of a lost sale, smart e-commerce companies have realized that a simple, quick refund system will increase the likelihood of consumers returning to make more purchases in the future.

Returnly makes the process quicker for companies by eliminating that anxious waiting period between when a consumer sends back an item and when a company receives the item and refunds the money. Returnly offers 'Instant Refunds,' a system in which they front the consumer money in an online wallet that can be spent at the e-commerce site immediately, then return the consumer that money (if unspent) when the retailer receives the product.
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