TodayPay Inc. announced that it has been named the Most Innovative Alternative Payment Solutions – USA 2024 by PAN Finance. TodayPay is an award-winning technology company pioneering a new category in payments called Refunds as a Service™ – an entire suite of alternative refund solutions for merchants, marketplaces, issuers, and their consumers. Pan Finance delivers key information through time-sensitive financial news covering world markets, industry analysis and c-suite level interviews.
“In a world where time is money, TodayPay is pleased that our innovative refunds solutions – built to address a broken system – continues to be recognized,” said Jeremy Balkin, Founder and CEO, TodayPay Inc. and former Head of Fintech for J.P. Morgan. “There’s over a trillion dollars of value exchanged every year in the form of refunds, yet there’s been almost zero innovation improving the awful refund customer experience. It’s our mission to fix that.”
TodayPay is SOC II and PCI compliant and uses artificial intelligence and machine learning to deliver a safe, secure, and seamless instant refund experience for merchants and their consumers. TodayPay decouples the refund, which is a payment solution, from the return, which is a logistics problem. This helps merchants compete end-to-end on customer experience based on the speed of a payment, instead of the speed of broken supply chains. For consumers, it means the ability to earn cashback on a refund and get paid instantly, instead of status quo, which is simply a reversal back to the original payment method on the next month’s credit card statement.
“I built TodayPay because I’ve seen firsthand how the speed of a payment can change somebody’s life,” said Balkin. “TodayPay is transforming the broken refund process, from where money goes to die, into a rewarding instant gratification experience for merchants and their customers.”
TodayPay is part of the Visa Fintech Fasttrack program and has been widely recognized across the industry. Last month, the Pepperdine Graziadio Business School included TodayPay in its 2024 list of Most Fundable Companies®, honoring the leading emerging U.S. startups poised to make a significant impact in their industries. Additionally, TodayPay was named a Top Emerging Fintech Company at the 2024 Finovate Awards.
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