December 16, 2024 15:21 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Bangladesh likely to hold national polls in late 2025 or early 2026, says Yunus in Victory Day speech | Constitution stood test of time: Nirmala Sitharaman in Rajya Sabha | PM Museum requests Rahul Gandhi to return Pandit Nehru's historical letters | Indian tabla maestro Zakir Hussain dies at 73 in San Francisco, confirms family | Kolkata woman strangled, beheaded and chopped into pieces for refusing brother-in-law's advances | Arvind Kejriwal, CM Atishi to contest Delhi polls from current constituencies | Atul Subhash suicide case: Wife Nikita, her mother and brother arrested | Pushpa 2 stampede: Allu Arjun walks out of jail, actor's lawyer slams delay in release | Donald Trump intends to end 'inconvenient' and 'very costly' Daylight Saving Time | Suchir Balaji: Indian-origin former OpenAI researcher found dead at US apartment
Snapdeal

Snapdeal partners with Cashfree Payments to enable instant refunds for CoD orders

| @indiablooms | Mar 28, 2022, at 11:49 pm

Snapdeal, a value commerce platform, on Monday announced its partnership with payments and API banking solutions company, Cashfree Payments, to enable instant processing of refunds against cash on delivery (CoD) orders.

Traditionally, processing refunds for CoD orders has been a multi-step and time-consuming process, which includes manually adding the customer's bank account details, onboarding the customer as a payee and tracking as well as reconciling refunds batch-wise.

Online shopping is getting increasingly more popular, especially among customers from smaller cities.

A recent RedSeer report commissioned by Snapdeal has highlighted this rapid growth of online customers in India’s 2+ cities and towns, who are expected to triple in size from about 78 million in 2021 to nearly 256 million by 2026.

A significant proportion of buyers from smaller cities prefer to pay in cash for their online purchases. For this cohort of buyers, the ease and speed of getting refunds for orders that they may choose to return is a key consideration.

With the integration of ‘Cashgram’ by Cashfree Payments, Snapdeal now offers a seamless and fast refund process, where customers can get their refund instantly or later as per their own choice, either to their bank accounts or to their preferred wallets.

Speaking on the partnership, Sarvartha Kanchan, Vice President - Supply Chain Management and Customer Experience, Snapdeal said, “We endeavour to provide a delightful experience to our users at all touchpoints. For our users, who prefer the convenience of cash on delivery, we wanted to provide an equally efficient, yet secure refund process. Through our integration with Cashfree Payments, we offer our buyers the convenience to directly add the required details to their “Cashgram” and receive their refunds when and how they want, including on weekends and also outside banking hours.

Reeju Datta, Co-Founder, Cashfree Payments said, “In a customer journey, providing a seamless payment experience is critical. And issuing refunds, especially to Cash on Delivery (CoD) customers, has been one of the concerns for e-commerce businesses. We are delighted to partner with Snapdeal to enable a seamless CoD refund experience for their customers. An instant, hassle-free refund experience, combined with consistent and accurate communication to the customer is going to be a breakthrough and a way forward from all the future payment.”

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.