Mangaluru: Three youngsters held for demanding hafta

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 2: Senior Congress leader Mallikarjun Kharge said that the "RSS needs to be defeated to save the country" and Prime Minister Narendra Modi and Union Home Minister Amit Shah are "destroying the nation".

Kharge was speaking at a KPCC program where DK Shivakumar took charge as state Congress president.

He said that the Prime Minister and the Home Minister are not ready to take accountability for any issues including China, and are instead blaming Rajiv Gandhi Foundation of getting funds from China.

"Rajiv Gandhi foundation utilized funds for the development of the nation and for the betterment of the downtrodden people," Kharge said.

"Prime Minister Modi and Shah both are destroying the economy of the nation, and their policies and plans are the reason for increasing COVID-19 situation in India," he said.

"Prime Minister and Amit Shah never listen to Opposition parties, instead they plan something and their policies are the reason for MSME losses and job losses in the country," he added.

Bengaluru, May 15: The novel coronavirus infection tally in Karnataka state on Friday crossed the 1,000-mark with 45 new positive cases.

The tally has risen to 1032 with 35 deaths.

At present, there are 520 active cases, while 476 have been discharged following recovery

A maximum of 16 new cases are from Dakshina Kannada, followed by 13 in Bengaluru Urban.

Five cases are from Udupi, three each from Hassan and Bidar, two from Chitradurga and one each from Bagalakote, Shivamoga and Kolara, respectively.

A three-year-old is among the six minor infected by the virus.

Among the new cases, nearly 20 have a travel history to Dubai, four to Mumbai, and three to Chennai.

The rest of the patients are contacts in the Containment zone and those who tested positive earlier.

Medical Education Minister Dr K Sudhakar said that there is no community transmission as yet.

New cases reported: 45

Total active cases: 520

Total discharges: 476

Total covid deaths: 35

Death of covid +ve patient due to Non-Covid cause: 1

Total positive cases: 1032