That is not a feature that exists in any system I've used. Sounds nice though.
Yeah, if I remember correctly the initial business model of paybyphone was precisely that they were pocketing the overlap between parking sessions and using that to deploy at no cost for the city and invisible cost for the drivers
I've seen a city that uses Passport Parking refund the unused time. They also use PayByPhone with the same location code, and using that method did not refund the unused time.