Make way, noodles and coffee, the age of instant refunds is upon us! :- www.deekpay.com

India has become a country where online commerce is not only growing in numbers but also thriving. Whether it is home shopping during an epidemic or simply because of the desire to shop for goods from the comfort of your home, online commerce has attracted a large number of consumers over the past few years. While online commerce may seem to be riding high, there is one challenge that always follows - the issue of order returns and subsequent refunds. When we talk about refunds, we are essentially referring to instant refunds, as this is the key to customer satisfaction and instant payment.

### The changing landscape of instant refunds

Online shopping has rapidly gained popularity among Indian consumers in the last decade. People feel more comfortable about buying online rather than shopping in physical shops. In fact, the number of online shoppers in India is expected to reach 500 million by 2030, which is a huge leap from 150 million in 2020.

The hesitation and scepticism that was present in the minds of people when online shopping was initially introduced is no longer present. Some of the main reasons for the growth of online shopping include:

- safety

- Competitive prices

- Convenient return process

Therefore, as an online business, you can go a step further and ensure that the return process is simple and refunds are swift - what we call instant refunds. This is key to earning your customers' trust and ensuring that they come back every time they shop. After all, slow refunds are not only outdated, they can lead to customer dissatisfaction.

Here are some of the possible negative effects of not processing refunds quickly:

- Decreased customer trust in the brand

- Increase in shopping cart abandonment rate

- Loss of customers

- Loss of income

These reasons are extremely negative for any business. So, if you're an online business aiming to maximise your revenue and customer base, then obviously instant refunds are the way to go. Most importantly, if you want to increase repeat transactions and customers, then dealing with instant refunds should absolutely be your focus.

### Boost your business with PayU Instant Refunds!

This is when PayU Instant Refunds shines as the saviour of online businesses!

With PayU instant refunds, you can:

- 24-hour refund processing

- Refunds will be returned to the original method of payment and will please the customer with immediate payment

- Access to real-time reports on the PayU dashboard

- Complete control over whether to choose a normal or instant refund for each transaction

These are an excellent combination to keep your customers happy. Additionally, PayU Instant Refunds supports more than 150 payment methods and ensures that you cover 95% on all domestic transactions so that you can easily make online payments to your customers. To summarise the key point about refunds: the more instant the refund, the better it is for business.

So, what are you waiting for?

Aim for the sky, because the limits of customer happiness are endless

Only PayU instant refunds!

### Frequently Asked Questions

- How long does it take from the time a customer submits a refund request to receiving an immediate refund? Ideally, it only takes a few minutes from the time the refund is initiated until the customer receives it.

- How do I activate Instant Refunds for my business? To activate the Instant Refund process for your business, follow these steps: 1. Register on https://onboarding.payu.in/app/account/signup. 2. Visit. 3. After that, our team will contact you to discuss activation, legal riders and more.

- What payment methods are supported for instant refunds?PayU instant refunds are supported for credit/debit cards, UPI, wallets and net banking.

- Is there a fee to process instant refunds? Yes, PayU charges a fee to process instant refunds. This is mainly because we have to bear the cost of transferring the refunded funds to the customer's account.