Kalladka clash: HJV leader Ratnakar Shetty, Khaleel externed from DK for 6 months

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.

Newsroom, Feb 7: Prime Minister Narendra Modi’s recent statement that there is no detention camp in India is no more a lie. That doesn’t mean that there are no detention camps in the country, but the name of the camps have changed. 

In December, at a mega rally at Ramlila Maidan, meant to launch the BJP's campaign for the assembly elections in Delhi, Mr Modi had stated: “The rumour of detention centres being spread by the Congress and urban Naxals is totally false. This is being done with a bad intention to destroy the country, it’s filled with evil motives; this is a lie, lie, lie.” He had further claimed: “Neither are any of the country’s Muslims being sent to detention centres nor is there any detention centre in India”

In reality there are at least six detention camps in jails in Assam to house foreigners found staying in India illegally. A month prior to PM’s statement, Union minister of the state for home affairs Nityanand Rai had revealed that the six camps in Assam housed 1,043 foreigners — 1,025 Bangladeshis and 18 Myanmarese. Apart from these, at least ten new detention centres are coming up.

Outside Assam too, the Maharashtra government, under the then chief minister Devendra Fadnavis, had identified land for the state’s first detention centre for illegal immigrants.

Besides, in a case relating to illegal immigrants in Karnataka High Court in November this year, the Centre had told the court that it had written to all state governments in 2014 and sent a follow-up letter in 2018 to have detention centres to house foreign nationals illegally staying in India.

Karnataka’s first detention centre, apparently meant to lodge illegal immigrants and migrants overstaying in the country, is already open in Sondekoppa village on the outskirts of Bengaluru. The facility with several rooms, a kitchen and toilets has been kept ready on the directions of the government. 

Meanwhile, Union Minister of state for home Nityanand Rai has told the Lok Sabha that the name "detention centre" has now been changed to "holding centre".

Mangaluru, Apr 20: As Wenlock hospital has been converted into corona hospital, all the heads of private medical college hospitals have been instructed to treat Wenlock Hospital's out patients and in patients at a government hospital fare or at the charges of Wenlock Hospital, said Deputy Commissioner Sindhu B Rupesh on Sunday.

Treatment is also been given at Bijai, Yekkur, Kulur, Jeppu, Surathkal, Kulai, Padil, Shaktinagar, Bengre and Bunder Primary Health Centers. Patients with MLC (Medico Legal Case) or Police Case may seek treatment at a private medical college or city primary center.

Some private hospitals have already agreed to provide free dialysis services, as requested by the government.