Bengaluru, Jan 16: Amping up the online payment experience for consumers, Razorpay, the leading full-stack financial services company, today launched a new product, Instant Refunds for businesses.
This new feature activates refunds and credits the customer's source account across payment methods such as credit card, net banking, and UPI within a minute of initiation.
India is one of the fastest-growing online retail markets today. About 71 per cent of internet users in the country purchase products online. Today, the refund process has two major pain points for both the end customer and the business.
First, a delay of five-seven business days for the customer in receiving the money because of multiple intermediaries like the acquiring bank, issuing bank and the networks (VISA/MasterCard/Rupay).
Second, the lack of transparency during the entire refund process for both the customer and the business. This long cycle of processing refunds is a significant problem with every popular payment method in the industry.
By issuing refunds instantly, Razorpay will help businesses retain their customers, build trust through an improved hassle-free payment experience and provide complete transparency on refunds to both the business and the end-user.
This new feature will also reduce the dependence on manpower as every refund issue on an average leads to ten service emails or calls from customer support teams.
"Instant Refunds are the new normal and central to great customer experience. A lot of consumers fail to use online payment methods as they feel getting refunds through an online platform is a very time-consuming task; hence they prefer CoD as the best alternative. Given the technological advancements being made in the fin-tech ecosystem, its fair for customers to expect refunds as fast as possible. A solution like Instant Refunds will not only help build consumer confidence in digital payments but also reduce losses for e-commerce companies where CoD has become an expensive option with more than 50 per cent online transactions made through cash", said Shashank Kumar, CTO & Co-founder of Razorpay.
"Our Instant Refunds feature ensures that the refund is processed at a 3600x faster pace than the normal expected time of five-seven business days. The team is focused on creating new technologies designed to make the entire payment lifecycle hassle-free. We believe this new feature will make customers experience a notch higher, help brands create a competitive advantage, and even make them more profitable", he added.
Razorpay's growth has been uphill, particularly in the last two years. With a 500 per cent growth in 2019, the company has been witnessing a healthy growth rate of 35 per cent month-on-month.
The company also recently launched its corporate credit cards for its partner businesses, RazorpayX current accounts, support for freelancers and homepreneurs, and acquired Opfin, a payroll and HR management software company.
Currently powering payments for over 800,000 businesses including the likes of Indigo, BSE, Thomas Cook, Reliance, SpiceJet, Aditya Birla, Sony, and Oyo, the team plans to increase this count to 1,400,000 by this year. The full-stack financial solutions company expects a 4x growth in its revenue by the end of the next fiscal year.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.
Mr Kodichal's in a press meet last week had strongly supported Muslim Personal Law and stated that polygamy is far better than prostitution.
Comments
whoever want to oppose muslim talaq system or polygamy matter in please learn about it then come to talk about it.........
@ #13 Naren Kotian Singapore.
Naren please join our Sister Jashodaben Fans Group,We will make you the President of our Fans Club.If possible we will expand our fans club in Singapore also.
Xavier Mamu,
Cool down, Don't be frustrated. Chaddi brothers will never come to your support when you are in trouble. Relax. Dont forget the Church Attack.
Mr Ibrahim is right, Allah's command is final, no one can change
if you do also it will be fail....
ISLAM is peace religion, never said do not feed non muslims and anti social activities... Always says respect them and their priest
Islam says see the neighbor's hunger and feed them.
DO GOOD WORK FOR SOCIETY and MAKE FAIL TO ALL HATE MONGERS.
Who the hell all these muslim hate mongers tom dicky harry to shed crocodile tears when muslim women muslim community have no objection with the issue. I doubt the husbands of those sharing dias have single relationship. They might have one by legal. But God knows howmany have made back door exit entry . We all knew how the aids spread and who are responsible for it. Haati ke daant khaane ke aur dikhane ke aur. This is bitter truth. Let them look into the referendum in their own community instead tarnish the image of islam and muslim community. They have raise the issues like casteism, untouchability , abortion, devadasi system, alcohol, prostituion, dance bars, fast track hearings for murders and rapists.
Alhamdulillah muslims are proud to be muslim. Islam is the way of life evidencing people embaracing it across the world after practicing different religion majority among are women. Subahanallah. This shows how the hate mongers are hatching the conspiracy against the peace religion. Inspite the efforts Islam will stan firm . More they try malign larger will benefit islam. Tareeq gawah hai.
Dear Ms. Bhat,
In Islam polygamy only allowed to those person who has the capacity to look after with justice. Of course, women are not a use & throw item. Do not under estimate polygamy. It can solve lot of social problems. If you think that marry more than one is just for satisfaction purpose, then do you have any answer about Lord Krishna, who has married 16,000 women?
Look at the frustration ..muah...chummah gang completely in disarray ...hahaha...jashoda Ben fans Anthe .. This community took women as property and they were raping women under the strict rules...this is the main reason 60% prostitutes in kamati puram are from -----community. Ree faizhal Bhai elree idira ....burqa togondra. . I mean for protest rally ge.....rikacha nu seriskondu bidi ....swalpa straight and balukuva made irli ...yaake Andre burqa haaki kondirodu gandu antha gottagbaardu ...haha ...chennagi practice maadri ...
uncultured cong leader
Xavier Uncle. (Im sure he is not a Christian).
Jaun Zale. Dont comment just for the sake of Commenting.Rather Shut your Mouth.
Dear Aunties,
First tell Our Honerable Modi ji,To take care of his Own Wife our beloved sister Jashodaben. please tell him to give her the identity.So that she can spend rest of her life peacefully.
Abu Muhammad #6 CALM DOWN...
People are Ignorant of the REALiTY without making their research they come out and make bow bow by BLINDLY following their Evil Stupid thinking Leaders who also trap the IGNORANTS who want to live a life of UnAware of the consequences with the CREATOR...
Ms. Bhat, I advise you to marry first, change your status from single to marital, try to become a mother to someone and enhance your family tree. with regards to your queries or objection whatsoever, I strongly recommend you to read Chapter Talaq in holy Quran just once in your life time, do a qualitative study, then come to the public (I'm sure then you don't need to come) give your statement.
Sulochana Bhat, first look into your house - in your Brahmin community when husband dies, the widow is shaven, locked in the house and called MUNDE BIRANDI. Women in her period is kept out of the house like dirty dogs, you like your sister to be prostitutes than being a second wife enjoying all rights, freedom, respect and legal status. Your Lord Rama's father practiced polygamy, Pandavas practiced it, Your Lord Krishna had 16,108 wives officially wholesale polygamy ever recorded, Look into your various scriptures for further details and who practiced polygamy. Hindu kings had scores of official and un-official wives. For Polygamy and Divorce is the blessing from God Almighty. See the condition of your leader's wife - she has been suffering like hell in this world, neither divorced nor recognised as wife - Treated like worse than animal. This is the honour you and your Jumla party giving to the woman as your scripture says - NA STREE SWATANTRYA MARHATI.
Why public interested in personal or religious matter? Is anyone getting harm with these?
Dear sisters, very rarely you will find polygamy system followers in Islam. If they do it is their personal matter and better than prostitution. If any poor lady or someone getting respectful life what is wrong with it. Also remember, they should treat them equally so there is no questions about cheating or insulting.
The women in Pictures... and also those who want to increase their intellect...
Please watch this below video in YT
\Ahmed Deedats Amazing answers to 2 questions\""
Yes, polygamy is better than prostitution. Those who do not know the meaning of verses from Quran try to learn the meaning in your mother tongue then only you will be convinced what is and why polygamy.
dear hindu sisters the moment you know about the rights islam has given to women you will no longer remain to be non muslim, A true muslim, and most majority of muslim men dont treat women as objects it is the non islam religions which are treating women as sex objects, i think for these above ladies prostitution is justified if their husbands do , what a shame and they forget that prostitution with whom they are doing is a daughter, or wife or mother of someone., is it ok for them if someone do the same with their daughter or wife or mother.
ISLAM IS THE RELIGION WHICH IS THE TRUE AND THE ONLY WAY OF LIFE. AND ACCEPTED BY THE CREATOR, SUSTAINER AND THE CHERISHER OF THE UNIVERSE ALLAH THE ALMIGHTY.
BJP is concerned about woman....why they are not concerned about Modi's wife....she has been longing for joining him....why women's right group helping her....and not talking about it.......scared....hypocrites...
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