After the success on local market, PayU, eMAG and Alpha Bank Romania extend the Instant Money Bank service in Hungary, so that eMAG clients who make payments online with a card on file option and return products receive the equivalent value of the returned products within 30 minutes after the resolution of the return.
Instant Money Back is the result of innovation and solid partnership between PayU, eMAG and Alpha Bank Romania, which uses the Mastercard MoneySend and VISA Direct platforms.
The Instant Money Back service is a project developed and launched for the first time in Europe in 2019, in Romania, and Alpha Bank certified this new transaction type, while PayU Romania has developed the entire operational flow that facilitates the implementation of the transaction in less than 30 minutes for eMAG clients. In order to benefit from Instant Money Back, eMAG clients can use cards that are already saved in the account or can save the card at the end of the order.
“By introducing the Instant Money Back solution, PayU, with its partners, provides a unique product in Europe, which, after the launch on the local market, it implements on an external market for the first time. In the context of accelerated card payments caused by the pandemic, this service has increased trust and improved the experience of those who shop on electronic commerce platforms, by providing a safe, simple and fast context for online purchases. By launching Instant Money Back we provide not only a good purchase experience, but also a similar money-back experience”, Elena Gheorghe, Country Manager at PayU Romania, said.
In turn, Mircea Balica, Payments Platform Manager at eMAG, said: “We are continuously looking for ways in which to provide added-value services to our clients, helping them save time and money. By Instant Money Back, more than half a million eMAG clients from Romania have received their money back in a few minutes after validating a return. Moreover, when they return products at an easybox, Genius clients receive their money back on their cards as soon as they close the door of the locker. We are glad that we can now provide this service, which is extremely popular at home, to our clients from Hungary”.
“Developing this service with an important retailer and for the first time in Europe was a significant step for Alpha Bank Romania. Two years later, we are delighted to be able to support the growth of our customers in the region, also through a collaboration with PayU and eMAG, providing our partners with an innovative service designed to significantly improve the payment experience of consumers in the neighboring market”, says Viorel Vasile, Manager of the Card Unit at Alpha Bank Romania.