Currency notes issued before to 2005 to be withdrawn

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.

Mangaluru, Jan 31: Mahesh Vikram Hegde, the co-founder of website 'Postcard News', known for spreading fake news on behalf of Sangh Parivar, was taken aback when he was asked to sing 'Vande Mataram' to prove his patriotism by a group of women activists at Mangaluru International Airport.

The video of the incident which occurred on Friday, days after editor-in-chief and co-founder of Republic TV Arnab Goswami was heckled by comedian Kunal Kamra on a flight, went viral on social media within hours.

Hegde was spotted by social activist Kavitha Reddy, and other young orators – Najma Nazeer and Amulya Leona – at the airport where he was waiting to board a plane to Bengaluru.

In a video, the three women are seen coercing Hegde to sing 'Vande Mataram' and prove his patriotism. In another video being circulated, the women are heard telling the journalist that he is getting an opportunity to become a 'hero' from 'zero' if he sings 'Vande Mataram.' However, he refused to open his mouth.

Reddy is seen asking Hegde whether he knew the time when Nathuram Godse assassinated Mahatma Gandhi.

Hegde was arrested in 2018 for posting a fake news aimed at creating communal conflict.

When saffron journalist Vikram Hegde refuses to sing 'Vande Mataram' pic.twitter.com/4TZHbpkvtd

— coastaldigest.com (@coastaldigest) February 1, 2020

Bengaluru, Mar 24: The state government on Tuesday published names and addresses of 14,000 people who have been placed under home quarantine, on its website.  

A district wise break up of the home quarantine patients was also provided.  

Notably, the number of coronavirus cases has risen to 41 in the state.