Building on the already successful Clik2pay service, which allows consumers to securely pay directly from their bank accounts, this new capability will enable retailers to send refunds to consumers through Clik2pay.

This new Clik2pay feature adds a critical piece to the overall payments capabilities of retailers, giving them a convenient, safe, and secure option to provide refunds to customers when items are out of stock or if there is an issue with an order. The refund is deposited directly into the customer’s account and processed in near real-time.

“Right now there is a heightened focus on the fees retailers are paying for credit card payments,” said Mike Bradley, Founder and CEO of Clik2pay. “Retailers are excited about an easy, secure, and cost-effective payments solution, and that is where we come in. Clik2pay is the only fast, flexible, and secure solution for seamless payments directly from a bank account - and it comes at a fraction of the cost of credit cards.”

Debit card transactions cost retailers pennies to accept payments in-store, making it extremely affordable for them. As the pandemic has shifted volume online, retailers have absorbed greater costs. As common as it is for customers to use debit to pay for in-store purchases, they often use credit cards online which can cost 100-times more than in-store debit.