E-commerce major Flipkart today announced instant refunds on returns of purchases made by using Visa debit card.
The online marketplace and the leading debit card brand have launched the facility to drive process efficiencies and provide hassle-free experience to shoppers, they said in a statement.
"At Visa, we are committed to working with partners, including financial institutions, merchants, start-ups and developers, to come out with innovative solutions specifically for Indian consumers.
"We are confident that the instant refund solution on Flipkart is a critical differentiator in India's ecommerce industry and will drive consumer confidence leading to further acceleration in adoption of online commerce," said T R Ramachandran, Group Country Manager, India and South Asia, Visa.
Under the facility, online shoppers using their Visa debit cards for purchases on Flipkart will get an immediate credit into their account in the event of a return, as compared to the usual 2-7 working days.
"Our partnership with Visa is a continuation of our efforts to innovate for our customers, and make online shopping a way of life for our audiences," said Kalyan Krishnamurthy, CEO, Flipkart.
Visa Direct debit cardholders of banks like SBI, ICICI Bank, Standard Chartered, Bank of India, Bank of Maharashtra, Federal Bank, IDBI Bank and The South India Bank are eligible to receive funds instantly.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)