Trak.in is a popular Indian Business, Technology, Mobile & Startup blog featuring trending News, views and analytical take on Technology, Business, Finance, Telecom, Mobile, startups & Social Media Space

Snapdeal Introduces Fastest Refund Policy – Get Money Back in 60 Mins Flat!

4

Snapdeal-Refund-within-1-hour

Except in some rare cases, everything which is available online, is also available offline; then why should a customer choose Snapdeal or Flipkart or Amazon over the neighborhood departmental shop or the mall which is just 30 minutes away?

It is the experience of the whole process, which is the trigger.

Among other things, the experience of feeling that your money is safe somewhere and the confidence of knowing that in case something goes wrong, the money would be credited back quickly, is something which is a huge factor which makes a person love or hate ecommerce.

Endorsing this fact, Snapdeal has now launched Indian ecommerce’s fastest refund policy till date – customers will now get their money back in flat 60 minutes (once the returned item is received by Snapdeal). Earlier, it used to take 7-10 days to refund the money once the product was received at the ware-house.

This new refund policy is powered by IMPS (Immediate Payment Service), and in case the customer’s bank doesn’t support this mechanism, the process will automatically shift to NEFT, ensuring that customer is not hassled and troubled to get their money back.

More than operational or logistical, I will describe this new initiative as a huge psychological trigger to convert strangers into permanent customers.

While announcing this new update, Anand Chandrasekaran, Chief Product Officer at Snapdeal said, “We hope that customers never want a refund, but we respect that it is a crucial part of the customers return experience. Having said that, we are extremely proud to introduce the country’s fastest instant refund facility assuring our customers the most seamless refund experience.”

Even those customers, who had opted for Cash on Delivery mode while making the payment, will enjoy this 60-minute refund via IMPS; and the most soothing part is that IMPS doesn’t stop on bank holidays or Sundays; it works 24 * 7, 365 days a year.

This real time, API based refund mechanism has been introduced in collaboration with a leading bank (Snapdeal didn’t reveal the name)

In June this year, Snapdeal and GoJavas had collaborated to launch ‘90 minutes reverse pick-ups’; wherein any customer who wished to return a particular product would be reached out in 90 minutes of intimation. This service has been launched in 15 selected cities across India.

If you wish to compare, then here is the return and refund policies of Flipkart and Amazon.in

Do you think that Snapdeal’s 60 minute refund policy will attract customers? Or it’s yet another campaign to create some buzz? Do share your views by commenting right here!

  1. Bharat kumar ravi says

    Please refund my amount to bank account for Snapdeal order 24401752435 my account no is 20077246968 IFC c sbin0000090 my mobile no 9463679336 sir please send my amount in my bank account

  2. anjali says

    hi,
    My recent experience with Snapdeal is totally opposite to what they claim.This 1 hour refund is total nonsense. I placed order on 23 Oct 15 for 3 garments. I paid by debit card . But Next day I realized that the colour that I had selected for one of the garments was not the one that I wanted so immediately I cancelled order for that one garment.
    But I am still waiting for the refund; Today is 2 November 2015.
    Before I received the delivery of the product I had cancelled my order so in fact this refund should have been immediate as there was no need of inspection to be done as normally they have to do when the product is returned by the customer.
    I am never going to shop with Snapdeal ever again.

  3. Sanjay says

    Bro, it’s just another campaign to create some buzz? nothing else… of course online market is 10-20% cheaper then Offline market as they have not to pay Rent or light bill etc but there is a kahawat in India “mahnga roye ek baar and sasta roye baar” agar local market 10-15% costly hai to uske apne fayde hai… kyunki jahan tak mera servey hai internet par only B grade maal bik raha hai…

  4. Sreekanth Yelicherla says

    What is so special in there? Anyways the refund is initiated after the product is returned to them. Flipkart, Myntra, Jabong all transfer the money wby evening the day they received the product. Moreover, SnapDeal is untrustable. Their trustpay has 7 day cancellation and auto-refund policy if the product is not shipped. But they silently change the shipping date.

Leave A Reply

Your email address will not be published.

who's online