ConnectID partners with Refundid to enhance refund process

ConnectID, a digital identity solution from Australian Payments Plus (AP+), has announced the integration of Refundid into its network.

Refundid, a fintech solution known for providing instant refunds, collaborates with notable Australian retailers such as Country Road Group, Seafolly, Adore Beauty, DISSH, Culture Kings, and PE Nation.

This collaboration aims to bolster the security and streamline the efficiency of the refund process for these retailers. By joining the ConnectID network, retailers can reduce the necessity to store sensitive customer data, thereby enhancing the security of identity verification. Research from AusPost indicates that 76% of customers review a website's return policy before making a purchase, highlighting the importance of a secure and efficient refund process.

ConnectID simplifies the returns process through seamless identity verification via customers' banks. This approach eradicates the need for manual data entry and repetitive proof of identity submissions, which in turn, accelerates the refund process and minimises the risks of errors and potential fraud. Consequently, customers experience a more streamlined and trustworthy transaction.

Refundid's Chief Technology Officer, Ilan Kessler, commented on this integration, stating: "Refundid helps retailers meet customer expectations by turning what is typically a negative experience into a positive one, so we're always looking for clever ways to streamline and improve the refund process, and integrating with ConnectID was the perfect choice."

Kessler further elaborated, "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 retailers' service offering, joining the ConnectID ecosystem helps us further enhance customer confidence and trust."

Statistics from the Australian Retailers Association suggest that the slowdown in consumer spending may continue through 2024. This underscores the need for retailers to make a favourable impression on consumers, which includes ensuring the secure handling of identity information. By leveraging digital identity solutions like ConnectID, retailers can enhance security and streamline the return processes.

Andrew Black, Managing Director for ConnectID at AP+, highlighted the importance of digital identity in creating safer online environments.

"We're excited to welcome Refundid into the ConnectID network. The growth and preservation of customer trust is a cornerstone of success in the retail world, and they can mean the difference between a single interaction and a long-term customer relationship."

"By joining ConnectID, retailers can enhance consumer trust in the handling of their sensitive information, streamlining and securing identity verification while reducing the need for sharing ID documents."

The integration of Refundid into ConnectID illustrates the potential of digital identity solutions to reduce the need for businesses to manually collect, store, or validate sensitive documents.

The secure and convenient verification process brought by this integration is set to benefit a wide range of Australian retailers and their customers.