Rayanna Brigade warns Yeddy-led BJP against attempts to sideline KSE

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 29: Seven new COVID-19 cases have been confirmed in Karnataka since Saturday 5 pm to 2 pm on Sunday.

The total number of positive cases in the state stands at 83, out of which five have been cured/discharged and three have lost their lives, according to the Karnataka Health Department.

A total of 979 confirmed cases of COVID-19 have been reported in India, informed the Ministry of Health and Family Welfare on Sunday.

Udupi, Feb 26: Thirty senior folk artistes, one from each district across the state, and two folk experts will be presented the ''Karnataka Janapada Academy'' Awards for 2019-20.

Announcing the names of the award winners here on Wednesday, Academy Chairperson Manjamma Jogathi said that while the artistes will get a purse of Rs 25,000 and a citation, the folk experts will be awarded Rs 50,000 and a citation.

The awardees are M Gowramma (Folk singing – Bengaluru Urban), Lakshamma (Bengaluru Rural – Bhajan), Ankanahalli Shivanna (Ramnagaram –Pooja Kunitha), Angadi Venkatesheppa (Kolar-Tatvapada), Rangaiah (Thumkuru-Folk Singing), P G Parameshwarappa (Davangere-Veeragase), Tippanna (Chitradurga – Goravara Kunita), Munireddy (Chikkaballapura-Folk Song), G C Manjappa (Shivamogga – Dollu Kunitha), Mada Shetty (Mysore – Kamsale Kunita), Swami Gowda (Beesuva Padagalu – Mandya), Gowramma (Chamarajnagar –Sobane Pada), J K Ramu (Kodagu-Kodavara Kunitha), Kapini Gowda (Hassan – Kolata), Dr H C Eshwarnayaka (Chikkamagalur-Nati Vaidhya), Sadhu Panara (Udupi-Bhootha Kola), Rukmaiah Gowda (Dakshina Kannada – Siddavesha), Sankamma (Belagavi –Sampradaya Pada), Rukmini Mallappa Haranala (Bagalkote-Wedding folk Song), Mallaiah Rachaiah Thotagunte (Dharawad-Folk Song), Hanumanthappa Dharwad (Haveri –Bhajane Kolata), Nagaraj Jakkammanavar (Gadag – Gigi Pada), Nimbevva Kenchappa Gubbi (Vijayapura-Sobane Pada), Hussainabi Budensaab Siddi (Uttarkannada-Siddi Damami Dance), Gangadara Swami Aggi Mata (Kalburgi – Puruvanthike), Tulasi Rama Bhimarao Suthara (Bidar-Folk Song), Shanthavva Ganda Lachamappa Lamani (Koppal – Lamani Dance), Soogappa Nagappa (Raichur – Tatvapada), Veshagara Mothi Ramanna (Ballari-Hagalu Vesha), Shivamoorthy Thanikedara (Yadagir – Gigi Pada).