Now, Karnataka citizens will get passport in 10 days

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, May 30: Karnataka Chief Minister BS Yediyurappa has announced that on May 31 (Sunday) there will not be a total lockdown and all activities will be permitted and continue like the rest of the week.

The decision was taken in view of demands from citizens and “keeping their interests in mind,” said a statement from the Chief Minister’s Office (CMO).

This means that public transport services - buses, autos and cabs - shops, commercial establishments and others will be open on May 31.

Under a Lockdown 4.0, Karnataka had decided to throw open public transport, except metro, shops and commercial establishments, except Metro, on all six days between 7 am and 7 pm. However, May 24 and May 31 - Sundays - were exempted from the relaxation and a curfew was to be imposed throughout the day.

The Lockdown 4.0 ends May 31 and the government's decision to keep Sunday free comes ahead of the Lockdown 5.0 that the Centre is expected to announce soon.

Tumakuru, Apr 12: Fearing the spread of COVID-19 in Muddenahalli village, the villagers shifted to living in tents in nearby fields with most of their belongings.

Kariyappa, one of the villagers said, "We were scared of the COVID-19 spread, so we came here."

Around 60 families of the village lived in tents for three days, before they returned to their houses on the advice of the Tehsildar.

So far, 214 COVID-19 cases, including six deaths, have been reported in the state of Karnataka.

With 34 deaths and 909 new positive COVID-19 cases in the last 24 hours, the total number of coronavirus cases in India on Sunday reached 8356, including 716 cured and discharged, according to the Ministry of Health and Family Welfare.