Murugesh Nirani gifts Yeddy Rs 1-crore SUV to tour drought-hit areas

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.

New Delhi, Apr 16: Minority Affairs Minister Mukhtar Abbas Naqvi on Thursday directed state waqf boards to ensure strict implementation of lockdown and social distancing guidelines during the holy month of Ramzan starting next week amid the coronavirus pandemic.

At a meeting via video conferencing, Naqvi asked the state waqf boards' officials to create awareness among people to offer prayers and perform other religious rituals like "iftar (breaking of fast)" during Ramzan, which begins on April 24 or 25, staying inside their homes.

More than seven lakh registered mosques, eidgahs, imambadas, dargahs and other religious and social institutions come under state waqf boards across the country. The Central Waqf Council is the regulatory body of state waqf boards in India.

"We should cooperate with health workers, security forces, administrative officers, sanitation workers. They are working for our safety and well-being even putting their own lives at risk in this coronavirus pandemic," Naqvi said.

"We should also demolish rumours and misinformation being spread about quarantine and isolation centres by creating awareness among people that such centres are only meant to protect people, their families and the society from the pandemic," the minister said.

Naqvi told all the state waqf boards and religious and social organisations that everyone should remain cautious of any type of fake news and conspiracies aimed at creating misinformation. 

"Authorities have been working for safety and well-being of all citizens of the country without any discrimination. Such type of rumours and conspiracies are a nefarious design to weaken the fight against coronavirus," he said.

"We should work united to win this fight against corona by defeating any type of rumour, misinformation and conspiracy," the minister said.

Naqvi asked officials of all the state waqf boards to play an active and effective role in ensuring that people follow the guidelines of the Union Home Ministry, state governments and the Central Waqf Council while fulfilling religious responsibilities during Ramzan.

In view of the challenges of the COVID-19 pandemic, all religious and social activities and mass gatherings in all the temples, gurdwaras, churches and other religious and social places of the country have been stopped, he said. 

Similarly, any mass gatherings in mosques and other Muslim religious places of the country has also been stopped, Naqvi said.

He said that due to the COVID-19 threat, religious leaders as well as religious and social organisations from all regions of the country, have appealed to people to offer prayers and perform all other religious rituals staying inside their homes during Ramzan. 

Most of the Muslim nations of the world have also banned mass gatherings at mosques and other religious places during the holy month, he pointed out.

Prime Minister Narendra Modi, in cooperation with all the state governments, has been working effectively for the safety and well-being of the people, he said.

The cooperation of the people has brought great relief to India in the war against COVID-19 Naqvi said, adding that several challenges are still there before the country. 

"We can defeat these challenges of the coronavirus pandemic by following all the guidelines of the central and state governments strictly," he asserted.

Chairman and senior officials from state waqf boards such as Uttar Pradesh (Shia & Sunni), Andhra Pradesh, Bihar (Shia & Sunni), Dadra & Nagar Haveli, Haryana, Karnataka, Kerala, Madhya Pradesh, Punjab, West Bengal, Andaman & Nicobar, Assam, Manipur, among others participated in the meeting.

State waqf boards from Rajasthan, Telangana, Delhi, Chhattisgarh, Gujarat, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Maharashtra, Odisha, Puducherry, Tamil Nadu, Tripura and Uttarakhand also participated.

Indore, Jul 24: A woman who sells fruits on a cart and who lashed out at municipal officials here has done PhD in Materials Science. Her siblings too are well educated and sell fruits as they did not find jobs.

Dr Raisa Ansari, who lives at Bakery Street in Pardeshipura with her family said she wanted to be a scientist but did not get a job anywhere.

Speaking to media persons, Raisa said, "I have done PhD in Materials Science and wanted to be a scientist but did not get job anywhere. I sell fruit here but the municipal officials are bothering us. We are being forced to move from here to there like cattle. Our religion may be the reason why we are not getting jobs but we are proud to be Indian. I am still looking for a job."

Dr Raisa's mother Ayesha Ansari said she herself is not educated, but has four children of whom three girls and one boy studied a lot but no one got job.

Speaking to media persons Ayesha said, "I have four children and they are well educated. I have not studied but all my children are educated but did not get job so all of them sell fruits."

"When the matter came to marriage, one of the daughters got married. Raisa and Shahjahan Bi wanted an educated boy, but they were not able to find a suitable match because of their complexion and sometimes they rejected the proposal because of dowry, so both are single. Two of my grandchildren are studying biology. They will become doctors," said Ayesha.

Meanwhile, people in the neighbourhood lauded the family's abilities. They said theirs was an educated family had to sell fruits as they did not get jobs.