Travel Weekly highlight llness, injury and bereavement account for the vast majority (89%) of cancellation claim costs, with travel disruption accounting for just 8%. Furthermore 60% of travelers canvassed had not purchased travel insurance at the same time as they booked or planned their travel.
Refundplus provides our merchants with a win/win solution that delivers customer satisfaction and a new income stream
Built directly into the Axcess Payment Gateway, Refundplus™ is an answer to this serious risk to merchant profitability and customer satisfaction. If a customer has to cancel their booking and has no simple recourse to a 100% refund of their payment both merchant reputation, recommendation and social media posts take a hit and chargeback risks grow. Refundplus is a simple answer to this exposure, embedded into the merchants online sale process by design, not bolted on as an afterthought. Refundplus enables merchants to offer customers a 100% pre travel or pre event refund in over 20 different circumstances where an unforeseen happening frustrates their ability to travel or use the purchased ticket without the merchant funding the refund themselves.
Key benefits at a glance
- Fully integrated into the Axcess Payment Gateway
- No third-party checkout friction
- No impact on original booking income
- Merchant controlled pricing and experience
What changes for the customer
- Refund protection is offered directly at checkout
- No redirects or external providers
- Clear opt in within the booking journey - the purchase flow stays intact,
- A consistent, secure and branded experience
What changes for the merchant
- Conversion rates improve
- A new income stream opens
- Refunds due to customer circumstance cancellations cease to be a cost1
A commercial win for all travel, events and hospitality merchants
Refundplus™ is designed to deliver value for both sides of the transaction. Customers gain peace of mind while merchants unlock new, low risk ancillary revenue.
- New ancillary revenue at zero risk
- Typical customer opt in rates of 5 to 25 percent
- Merchant controlled consumer pricing with a self administered net margin uplift per transaction
- Reduced disputes and lower chargeback exposure
- Refund handling is fully managed for the Merchant - no additional workload or expense:
- 100 percent of the total paid basket value
- Paid back to the original payment card
- Fully managed claims journey
- Fast and transparent processing
As a fully gateway native service, Refundplus™ provides a real-world chargeback defence that is absent from third-party vendor refund programmes that rely on paying the refund to an un-associated bank account rather than the actual customer card account used in the original purchase transaction - a further protection of customer trust.
Why Refundplus™ matters now
‘Travel and events are under constant pressure from rising chargebacks, tighter margins and increasing customer expectations around flexibility. Refundplus™ addresses these challenges head-on.’
The Axcess Gateway is your platform for innovation -talk to our team to learn how Refundplus can enhance your customer experiance
