Instant Money Back is the result of innovation and the strong PayU- eMAG – Alpha Bank partnership, which uses the Mastercard MoneySend and VISA Direct platforms.
Instant Money Back Service is a project developed and launched for the first time in Europe in 2019, in Romania, Alpha Bank certifying this new type of transaction, while PayU Romania has developed the entire operational flow that facilitates the transaction in less than 30 minutes. eMAG customers. To benefit from Instant Money Back, eMAG customers can use cards already saved in their account or save the card upon completion of the order.
“By introducing the Instant Money Back solution, PayU, together with its partners, offered a unique product in Europe, which, after launching on the local market, it implements for the first time in an external market. Amid the accelerating pandemic of card payments, this service has helped build trust and improve the shopping experience of e-commerce platforms, providing a secure, easy and fast way to shop online. By launching Instant Money Back, we not only offer a good shopping experience, but also a similar one when returning the money “, said Elena Gheorghe, PayU Romania Country Manager.
For her part, Mircea Balica, eMAG Payments Platform Manager, said: “We are constantly looking to provide our customers with value-added services that help them save time and money. Through Instant Money Back, more than half a million of Romania’s eMAG customers received their money back within minutes of validating a return. In addition, when they return to easybox, Genius customers receive their money back on the card as soon as they close the locker door. We are glad that we can now offer this highly appreciated service at home and to our customers in Hungary ”.
“It was an important step for us to develop this service for the first time in Europe with a major retailer in the local market. More than two years later, we mark another important moment: the launch of this functionality in a nearby market, also in partnership with PayU and eMAG, following which we provide a unique service, meant to significantly improve the customer payment experience “, said Viorel Vasile, Director of the Cards Unit at Alpha Bank Romania.