Minister flags off KSTDC Mangaluru special package tour

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, June 23: Karnataka Congress chief D K Shivakumar has urged his party colleagues to be active on social media to counter the propaganda of Bharatiya Janata Party.

Speaking to media persons, the KPCC president said that no more than 20 out of the 68 Congress MLAs are active on social media.

“All those MLAs who are doing well need to be projected. We want leaders, not mere followers. They all should be the face of Congress in Karnataka. Party should not depend on just my face or Siddaramaiah’s,” he said.

Shivakumar’s diktat has resulted in the party’s social media unit scrambling to get leaders to create their accounts.

“We’re pressuring all the party MLAs and leaders. We’re asking their personal assistants or gunmen to operate their accounts if they are not savvy with social media,” KPCC social media chief A N Nataraj Gowda said.

He pointed out that the 20 MLAs who are active on social media include U T Khader, Dinesh Gundu Rao, Priyank Kharge, Krishna Byre Gowda among others.

“We’re also trying to get the accounts verified of those who are beginning to get active. For example, it was only recently that we got the accounts of S R Patil and Vijay Singh verified,” Gowda said.

Tapping the full potential of social media is crucial for the Congress because the BJP has found much success in reaching out to voters through various online platforms.

In fact, ahead of the 2018 Assembly elections, the Congress found that there were 10 ministers and some 40 MLAs who had turned a blind eye towards social media.

Shivakumar said he was also working on putting in place a system in the party under which all developments related to the state and country will be communicated to all party leaders at 10 am every day.

Kochi, Mar 9: A three-year old child has tested positive for the novel coronavirus, officials said in Kochi on Monday.

The child and its parents who had reached the Cochin International Airport Limited at 6 AM on March 7 from Italy were subjected to thermal screening at the universal surveillance system established, officials said.

Detecting symptoms of coronavirus in the child, they were immediately referred to the isolation ward of the Kalamassery Medical College Hospital, they said. The samples of the child sent for examination at the NiV lab at Alappuzha have tested positive for Coronavirus, they said.

The samples of the parents have also been sent for lab test, the officials added.

Five fresh coronavirus cases, including three who evaded screening on return from Italy, were reported in Kerala, prompting the government on Sunday to sound a renewed alert and warn action against those hiding travel history to affected nations.