BC Road: Muslim youth stabbed during RSS activist’s funeral procession

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.

Mangaluru, Jan 1: Karnataka Home Minister Basavaraj Bommai said here on Tuesday that the State government will think about making policy on giving compensation to the families of those who have died in police firing.

Speaking to newsmen here on Tuesday, he said that the government withholding compensation to the families of two persons who died in police firing in the city on December 19 after a protest against the Citizenship (Amendment) Act turned violent and even in 2006 when two persons had died in police firing at Mulky in Dakshina Kannada the then State government had not given any compensation to their families.

In the latest case, the First Information Report (FIR) has named the two persons who had died in the firing as the accused. After the incident, there were demands to provide compensation to the families of the victims.

Bengaluru, May 20: An Air India flight from Dammam in Saudi Arabia landed here with 161 passengers, including 85 for Karnataka and 76 to Hyderabad, an official said on Wednesday. Among Karnataka passengers there were both Bengalureans and Mangalureans.

"AIC-1910 (Airbus A321-211) landed at the city airport at 8.45 p.m. and 85 passengers, including 9 women and one infant alighted here, while 76 will fly to Hyderabad," the airline official said. 

The flight was 45 minutes behind schedule to Bengaluru.

The airline staff and the state government officials received the returnees in the arrival terminal and gave them masks to wear and sanitizer to wash hands.

All the passengers would be screened with thermal device to read their body temperature though only asymptomatic were flown back.

After completing formalities, including immigration check and filling the self-declaration form, the returnees were taken in state-run buses in batches for 14-day institutional quarantine in hotels and resorts across the city.

Passengers have to download the mandatory Quarantine app on their mobile phone before leaving the airport for contact tracing later.

Another evacuation flight from Kuala Lampur in Malaysia to Bengaluru has been cancelled due to Amphan cyclone over the Bay of Bengal that hit the Odisha and West Bengal on the east coast.

The service was the fourth to the southern state in the second phase of Vande Bharat Mission, the national carrier and its Express arm are operating to repatriate thousands of Indians, including distressed workers, migrants, students, senior citizens and tourists, stranded overseas since the government suspended international flights on March 23 and enforced an extended lockdown on March 25 to combat Covid-19 spread.

The first flight in the second phase landed on Monday night at Mangaluru on the state's west coast, with 177 passengers from Dubai in the UAE.

The second flight to the southern state from Kuala Lumpur in Malaysia landed here (Bengaluru) on Tuesday evening, with 94 passengers.

The third flight from Muscat in Oman landed here at 6.31 p.m. on Wednesday evening and at Mangaluru on the state's west coast at 8.01 p.m.

The remaining flights to Karnataka will land in Bengaluru and Mangaluru over the next 13 days till June 3 from 12 more destinations the world over.

In the first phase of the mission from May 7-17, the airline and its arm flew 6 flights to the state from May 11-15, bringing in 800 passengers, including 623 to Bengaluru and 177 to Mangaluru from London, Singapore, San Francisco and Dubai.