SC grants bail to 4 convicts in 2002 Naroda Patiya massacre

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, Mar 3: Chief minister BS Yediyurappa on Monday introduced the Karnataka Municipalities and Certain Other Law (Amendment) Bill, 2020, in the assembly to give voters the opportunity to reject candidates in civic polls.

The bill, if passed, will enable election officials to offer the NOTA option in the elections to municipal corporations on the lines of assembly and Lok Sabha polls.

An amendment bill which seeks to enable the government to set up a separate university for the districts of Raichur and Yadgir was also tabled. The government said the workload of Gulbarga University necessitated creation of a separate university for the two districts, a move that will also help reduce regional imbalance in Kalyana Karnataka region.

Another amendment bill seeks to allow industrial units, which have failed to start operations on allotted land after seven years, to sell off the parcels to another unit. Bills which empower authorised agencies to regulate turf clubs and horse racing and regulate salary and pension of teachers in higher education institutions were also introduced in the assembly on Monday.

Mangaluru, June 17: As many as 47 buses have been arranged by the district administration to transport 1,043 II PU students from the border areas of Kerala to the respective examination centres in Dakshina Kannada.

The II PU English examination, which was postponed in Karnataka due to covid lockdown, will be held on June 18. A total of 26,942 students are expected to appear for the examination across the district. Among them 6322 students have chosen to write their exam in the centres near to their hometown, following the COVID-19 pandemic. As many as 1,043 students are expected to come from Kerala.

22 KSRTC buses and 11 schools buses have been arranged from Talapady toll gate near Mariyashrama Church, 2 each KSRTC buses from Punyakoti Nagara in Mudipu, Bayar and Anekal in Vittal border, 1 KSRTC bus from Pathur in Kurnadu border, 3 KSRTC buses from Saradka in Vittal border, school buses from Kayar Padav in Puttur border, Panjikallu in Sullia border, Karike in Sullia border and Alatti Baddadka have been arranged.

The students have been asked to be present at a designated place to board the bus at 7 am and have to get their hall ticket and identity card, said DC Sindhu B Rupesh.

All the students should mandatorily wear masks and use sanitisers before entering the examination centres. The principals of colleges, where students from Kerala, are studying have been asked to deploy staff to make arrangements to ensure that students reach the examination centres on time and get back home after the exam.