Cashfree
Cashfree is a payments and banking technology company.
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Instant Refunds by Cashfree - ⚡Instant refunds by a payment gateway for the first🥇time

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Instant Refunds💸 added to your payment gateway with no changes required.
Merchant initiates a refund via API or dashboard, the customer receives funds instantly. Supported for all payment modes.
Made in Bangalore by Cashfree (YC, S17)

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So irritating on why refunds take so much time! This should alleviate much of customer anxiety in case of refunds. More power to you folks
Maker
Thanks Pranav 🙏🙏
Hey Akash, This is a great improvisation This is Romit and I work as a PM for mi.com website. Typically once a refund request is raised, the 90th %le will take around ~4-6 hours to process transaction through the PGs I am working with. The majority of this time is taken by banks and credit companies to process. Can you through some light on which of this leg have your product improved?
Maker
Correct. All the major PGs in India market have evolved to forward the refund request to acquirer banks within few hours. Banks have always been the bigger bottleneck. We have built our own parallel payment reversal stack by partnering with banks and networks to process refunds and thus don't have to process it in conventional way. This helps us reduce TAT significantly. We can discuss more over a call/meeting. Do drop me a DM.
Nice. Solution is great but remember as merchant please do not charge extra for insta refund. Reason : merchant is already paying you for the product ( payment gateway). But yes you standout from the crowd.
Maker
Thanks Pratik for sharing the concern. We will see how we can absorb the cost of IR in PG pricing.
Amazing concept. Solves a big problem when it comes to customer experience. Way to go !!
Instant Refund is path breaking and will bring high efficiencies in the transactions. Great job.
Maker
Thanks Rajesh :)
This is going to be a game changer...🤘🤘🤘
Dear Akash, i can see the instant refunds is valid only to the New Signups as per your Post and what about the existing customers , How are you going to provide the same to them ?
Maker
Instant refund feature would be available to both old and new customers.
Maker
We hope so too!
Does is also work for failed purchases or only for refunds triggered by the merchant/company ?
Maker
We are planning to extend it for failed purchases too. Not live at this moment though. Currently, focussed on merchant initiated refunds.
Yes
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