Najmul Huda, other five suspects taken to Delhi on different flights

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 21: Chief Minister B S Yediyurappa has claimed that Amulya Leona, who raised pro-Pakistan slogans at a pro-India event in Bengaluru, had links with Naxalites.

The 19-year-old B.A. student was arrested on sedition charge after she raised pro-Pakistan slogans at a peaceful protest against the Citizenship (Amendment) Act in Bengaluru yesterday.

"Bail should not be given to Amulya. Her father has also said he won't protect her. It’s proved now that she had contacts with Naxals. Proper punishment should be given," Yediyurappa said in Mysuru today.

All India Majlis-e-Ittehadul Muslimeen (AIMIM) chief Asaduddin Owaisi, who snatched mike from Amulya’s hand, said that her slogans only helped Bharatiya Janata Party and those who are trying to suppress people’s movement against racism and communalism.

Interestingly, Amulya hails from a family which has close association with Sangh Parivar. Her father Wazi Noronha was a leader of minority of wing of BJP in Koppa taluk of Chikkamagaluru district.

He had worked in support of hardline BJP leader and Udupi-Chickmagaluru MP Shobha Karandlaje, and D N Jeevaraj, who had represented Sringeri constituency last time.

Meanwhile, a group of people attacked the house of Wazi at Gullagadde near Koppa last night. A group of Bajrang Dal activists also compelled him to shout ‘Bharat Mata ki Jai’.

Also Read: Mangaluru: VHP stages protest against ex-BJP leader’s daughter who raised pro-Pak slogans

Bengaluru, Jan 1: Elaborate security arrangements have been made in view of Prime Minister Narendra Modi's two-day visit to Karnataka on January 2 and 3, officials said.

The Special Protection Group officials had a meeting with state government officials, especially the police regarding the security arrangements.

During his stay in Tumakuru, drones will not be allowed and anybody violating the direction will face stringent action, said a notification issued by Deputy Commissioner of the district Dr Rakesh Kumar.

According to the tour itinerary, the Prime Minister will reach Bengaluru on January 2 and fly to Tumakuru by a helicopter to visit Sri Siddaganga Math.

PM Modi will later take part in the Krishi Karman Awards function at the Junior College grounds where he will address a gathering and distribute fishing equipment, a government press release said.

The same evening he will return to Bengaluru to visit the Defence Research and Development Organisation. He will stay at the Raj Bhavan.

The next day, the Prime Minister will inaugurate the 107th Indian Science Congress at the Gandhi Krishi Vignana Kendra Campus at the University of Agricultural Sciences in Bengaluru, before flying to New Delhi in the afternoon.

To oversee the arrangements, Chief Minister BS Yediyurappa visited Tumakuru on Tuesday and held a meeting with officials.

Speaking to reporters later, Mr Yediyurappa said PM Modi will reach Siddaganga Math at 2.15 p.m where he will pay his obeisance to the seer there.

He will be in the town till 5.30 p.m on January 2, he added.

"Later, he will take part in the Krishi Karman and Krishi Samman Awards function which about 1.5 lakh people are likely to attend. He is going to give awards to 28 progressive farmers from 21 states," said the Chief Minister.