Expectations high in Dakshina Kannada as SSLC exams begin

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 17: A total of 3,693 new COVID-19 positive cases and 115 deaths were reported in Karnataka on Friday, said the state health department.

The total number of COVID-19 cases in the state is presently at 55,115, including 33,205 active cases. While there are 20,757 recoveries, the death toll stands at 1,147.

With the highest single-day spike of 34,956 cases and 687 deaths, India's COVID-19 positive cases crossed the 10 lakh mark on Friday, according to the Union Ministry of Health and Family Welfare.

The total positive cases stand at 10,03,832 including 3,42,473 active cases, 6,35,757 cured/discharged/migrated and 25,602 deaths, according to the ministry.

Mangaluru, Jan 12: Sudarshan Moodbidri and Robin Devaiah were today unanimous elected presidents of Dakshina Kannada and Kodagu district units of Bharatiya Janata Party.

Karnataka BJP vice-president Nirmal Kumar Surana oversaw the election process of the two district units at the BJP’s party office here.

While Sanjeeva Matandoor, Puttur MLA and incumbent president of DK unit of the party welcomed his successor Sudarshan, it was the turn of BB Bharatheesh, president of Kodagu unit to welcome Robin.

K Uday Kumar Shetty, DK district election officer and Ravi Kalappa, Kodagu district assistant election officer conducted the election under the supervision of Surana in the presence of MLAs of the party from respective districts.

Sudarshan started out his career as taluk and then district convener of Bajrang Dal before taking up responsibility as seva pramukh of Vishwa Hindu Parishad.

He formally joined the BJP as general secretary of Mulki-Moodbidri assembly unit of the party, moved on as convener of training cell of the party and was the general secretary of the district unit of the party before his elevation. A B.Com student of Dhavala College, Moodbidri, he is 44.

Robin, 50, who started out as a RSS volunteer as a student, too is incumbent general secretary of the Kodagu unit. Having been a member of ABVP for 8-years, he joined BJP formally in 1996 through Yuva Morcha and was its district treasurer, national executive member and state general secretary.

A product of Field Marshal K M Cariappa College, Kodagu, he served two terms as general secretary of the district unit prior to his elevation.