Now Flipkart to refund your money in 24 hours

If buying online was easy and convenient, so is getting a refund if the product doesn’t meet its desired standard. At least that is what Flipkart promised today at its launch of instant refund mechanism facility. This will facilitate the customers to get the refund within 24 hours of returning a product.

Previously, the refund process used to take three to five business days.

"Continuing the innovation journey by announcing this newly launched payment mechanism, 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," Flipkart said in a statement.

Immediate Payments System (IMPS) transfers would be used to execute the instant refund. Entitled customers will be regularly notified about the status of their refund via SMS and emails, it said.

"Our return procedure is already one of the fastest in the country. In the last two months, we have extended this further by piloting the IMPS refunds programme, which has seen positive adoption and traction from our end users," Flipkart Chief Product Officer Punit Soni said in the press release.

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, he added.

Transactions on IMPS can be accessed and initiated across different channels like mobile phones, PCs, NUUP, ATM and at bank branches.More than 12 million successful transactions are been processed every month, Asbe said.