Just few days after launching Ping, Flipkart today announced the launch of its instant refund mechanism via Immediate Payments System (IMPS) transfers. With the launch, Flipkart aims to ensure that refunds for Cash on Deliver (COD) orders are credited back to customers instantly—as soon as the product reaches the Flipkart hub.
The CoD IMPS return facility is currently active for banks having IMPS transaction capability (http://www.npci.org.in/bankmember.aspx). Entitled customers will be regularly notified about the status of their refund via sms and emails. Earlier, the refund process used to take three to five business days, causing customer discomfort.
Commenting on this development, Punit Soni, Chief Product Officer- Flipkart said, “This is a huge step in the payments front and has a big impact in the way customers shop on Flipkart. An instant, hassle-free refund experience, combined with consistent and accurate communication to the customer is definitely going to be a breakthrough, and a way forward for all future payment innovations.”
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