Reject national parties: Owaisi tells Dalits, Muslims, Adivasis

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, Feb 28: Historian S. Shettar, 85, breathed his last early on February 28 in Bengaluru. He was suffering from respiratory problems and was hospitalised for over a week.

Shettar was known for his multi-disciplinary work, encompassing linguistics, epigraphy, anthropology, the study of religions and art history. He had extensively worked on the Jain practice of ritual death in Karnataka and Asoka edicts. He had studied and compiled early edicts in Kannada and worked extensively on the growth of Kannada language down the ages.

Born in 1935 at Hampasagara, Ballari district, he went on to study at Cambridge University and started his career as a Professor of History at Karnatak University, Dharwad, his alma mater. He later headed the National Museum Institute of the History of Art, Conservation and Museology in 1978 and Indian Council for Historical Research in 1996. He was also a visiting professor at the National Institute of Advanced Studies, Bengaluru.

He was a bilingual historian who wrote in English for most of his career, but started writing in Kannada in later years. In the last two decades, he developed a keen interest in linguistics and wrote multiple books on classical Kannada and Prakrit. His 2007 book “Shangam Tamilagam” is considered a seminal work in the study of the early period of Dravidian languages. It won him Bhasha Samman from Central Sahitya Akademi. He later wrote two works on Halegannada, classical Kannada. His most recent work was “Prakrita Jagadvalaya” in 2018.

Bengaluru, May 9: The bar owners in Karnataka, while welcoming the state government's decision to allow takeaway sales of liquor, said that the move is not going to benefit them much.

Venkatesh Babu, a Bengaluru-based bar owner said, "We welcome this move, our bar was closed for two months due to coronavirus crisis. We have been facing losses since then."

"The state government has told us to sell our stocks at maximum retail price (MRP). It is difficult for us to manage as the rent is high and we also have to pay salaries," he added.

The owner of Pingara Bar and Restaurant, Shivamogga said, "The government has said that is for parcel only and that too at MRP. There is no benefit to our business. We are only clearing the existing stock. They have given us time till May 17 and are not even giving us fresh stock. We are only allowed to sell what we have already."

Karnataka government in its Friday order allowed restaurants, pubs and bars to sell liquor at retail prices from May 9 till May 17, the day the third phase of lockdown is slated to end.

Earlier, the government had allowed the opening of liquor shops in order to mobilise revenue.

However, bars, pubs, restaurants were ordered to remain closed amid the COVID-19 lockdown.