Sunday sees no let up in rush; long queues outside banks, ATMs

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.

Bengaluru, Jul 1: Karnataka Pradesh Congress Committee (KPCC) chief DK Shivakumar on Wednesday said that the state Chief Minister BS Yediyurappa should apologise to the nation for the Ballari incident.

"It is shocking to see the Ballari incident. The way the dead bodies of the corona victims have been treated is very unfortunate. The entire country witnessed it. I request the Chief Minister BS Yediyurappa to apologise to the nation. India is known for its values and traditions," Shivakumar told reporters here.

Earlier, Shivakumar had posted a video which allegedly showed officials 'inhumanly' dumping bodies of those patients who die of COVID into a pit in Ballari, the district administration confirmed it and said that the entire field team involved in the incident has been disbanded.

"It's disturbing to see bodies of COVID patients who have died being dumped inhumanly into a pit in Ballari. Is this civility? This is a reflection of how the government has handled this Corona crisis. I urge the govt to take immediate action and ensure that this doesn't happen again," Shivakumar's tweet, which also had a video of the incident embedded, read.

The Deputy Commissioner, Ballari issued a press note which stated that it had conducted an enquiry after the video surfaced and it was found that the video belonged to the district and "comprises of burial of eight people who passed away after succumbing to COVID-19."

Although, according to the DC, all protocols and SOPs were followed by the team during the burial process, however, the "disrespectful handling of the bodies while being lowered on to the ground by the field staff" led to the entire field team involved being disbanded and will be replaced by a new team trained by the HOD, Forensic, VIMS.

The district administration also issued an unconditional apology to the families of the deceased and to others who were hurt by the incident.

Meanwhile, Chief Minister BS Yediyurappa also termed the behaviour of the staff "very inhuman and very painful" and urged the staff to tread cautiously with humanity in handling the funeral of those affected by the disease, and added, "Let's walk with humanity, and realize that there is no greater religion than humanity." 

Bengaluru, Apr 27: As many as 345 Bengaluru-based journalists tested negative for coronavirus on Monday after undergoing a medical check-up got up for them at a hospital here, a top official said.

They had undergone the tests at the Sir C V Raman General Hospital here on April 25 and the results came out negative on Monday. They were among a total of 1,170 journalists who took the tests at the four-day medical check-up camp at the Hospital here from April 23.

"The medical check-up was done in four slots at the Hospital here from Thursday and concluded on Monday. A total of 1,170 journalists undertook the tests, 480 of them on Monday alone, the joint director of the Department of Information and Public Relation D P Muralidhar said.

The test reports of the 480 journalists may come out on Wednesday, he said. Only one journalist tested positive so far and has been admitted to the designated COVID-19 hospital, he said, adding 36 of his primary and secondary contacts have been quarantined.