Cashfree is a payments and banking technology company.
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Kevin William David

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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pranav garg
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
Reeju Datta
Maker
@pranav_garg1 Thanks Pranav 🙏🙏
Romit Jain
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?
Akash Sinha
Maker
@romit_jain 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.
pratik gupta
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.
Akash Sinha
Maker
@pratik_gupta4 Thanks Pratik for sharing the concern. We will see how we can absorb the cost of IR in PG pricing.
Adv Akshay Sharma
Amazing concept. Solves a big problem when it comes to customer experience. Way to go !!
Rajesh Sethi
Instant Refund is path breaking and will bring high efficiencies in the transactions. Great job.
Akash Sinha
Maker
@rajesh_sethi1 Thanks Rajesh :)
Santosh Yadav
This is going to be a game changer...🤘🤘🤘
K Jagadish
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 ?
Akash Sinha
Maker
@jagadish_k Instant refund feature would be available to both old and new customers.
Reeju Datta
Maker
We hope so too!
Sankalp Akash Singh
Does is also work for failed purchases or only for refunds triggered by the merchant/company ?
Akash Sinha
Maker
@sankalp_akash_singh We are planning to extend it for failed purchases too. Not live at this moment though. Currently, focussed on merchant initiated refunds.
CHAITHYA BRIGHT NIDHI LIMITED
Yes
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