ConnectID, the Australian Payments Plus (AP+) owned digital identity solution, has welcomed Refundid to the network. Refundid is a leading fintech solution that provides instant refunds on purchases with some of Australia’s biggest retailers, including Country Road Group, Seafolly, Adore Beauty, DISSH, Culture Kings and PE Nation.
Through ConnectID, Refundid customers can securely and seamlessly verify their identity using an existing trusted source, like their bank. Aside from an elevated customer experience by reducing the need for manual data entry, the process bolsters protection against refund fraud and other risks associated with sharing sensitive information directly.
Refundid CTO Ilan Kessler says Refundid helps retailers meet customer expectations by turning what is typically a negative experience into a positive one.
“We’re always looking for clever ways to streamline and improve the refund process, and integrating with ConnectID was the perfect choice,” he said.
“First time customers who are creating an account to receive their Refundid instant refund can now use ConnectID to verify their identity. What’s more, with Refundid being an extension of our retailer’s service offering, joining the ConnectID ecosystem helps us further enhance customer confidence and trust,” Mr Kessler added.
According to research from AusPost, nearly 76% of customers read a website’s return policy before placing an order, suggesting a seamless return policy is an important factor in their in purchasing decision. This, paired with the Australian Retailers Association’s prediction that the slowdown in consumer spending will linger through much of 2024, underscores the importance for retailers to make a positive impression on consumers, and part of this includes enhancing the security of identity information.
Ensuring sensitive information is handled securely is paramount in the purchasing journey, and ConnectID’s integration with Refundid represents a significant step forward in digital identity solutions within the retail space.
“As more payment solutions enter the market, a streamlined refund process will continue to become increasingly important,” Mr Kessler said. “Improving this user experience and making sign-up and identity verification a more straightforward process will become the standard across the industry and the expectation from all customers.”