Earlier this month, Flipkart launched its instant refund mechanism facility, a move that allows its customers get refunds as early as within 24 hours of returning the product. Today, Flipkart’s rival, Snapdeal launched a similar service and reduced the return time to as low as one hour of receiving the returned product.
Previously, the refund process used to take three to five business days. “We are extremely proud to introduce the country’s fastest instant refund facility assuring our customers the most seamless refund experience. We have already noticed that close to 100 % refunds take place within an hour and 85% within 30 minutes, making this a highly reliable refund service for our customers,” Anand Chandrasekaran, Chief Product Officer, Snapdeal said in a statement.
The instant refunds will be given to Snapdeal customers using Immediate Payments System (IMPS) transfers. Snapdeal has tied up with one of largest private banks of India (name undisclosed) for the IMPS technology. “The high capacity IMPS real time integration allows customers to receive their refund within one hour of the product being returned. 100% of customers using the Cash On Delivery facility will have access to IMPS 24/7 while bank holidays will have no impact on this service either,” the company said.
Also Read: Flipkart to offer refunds to customer within 24 hrs
Snapdeal has conducted various technology enabled launches in the past two months starting with the new look for Snapdeal: a refreshed user interface for web and mobile, product discovery platform – FindMyStyle, and Shopo, a zero commission marketplace.
Despite the clarification, the beleaguered e-commerce firm has shutdown marketplace Shopo in February after a year-and-a-half of operations
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