Snapdeal Refund In 60 Minutes

Snapdeal will now issue refunds in just 60 minutes! What typically takes about 7 to 10 business days has now been shortened to just an hour by Snapdeal. Snapdeal, a top competitor to Flipkart and Amazon has taken a step which I think has the potential to really change the way people 'experience' the shopping. The move will not only attract new buyers, but will also provide an additional peace of mind to the regular buyers.

The company announced the new policy through a #-Link-Snipped-#. Here's what you all need to know about the new policy:-

• The refund will be issued to the customer within 1 hour of the receipt of the product by Snapdeal.
• The system is completely automated, API based and real time.
• It uses the IMPS technology for issuing refunds. IMPS stands for immediate payment service which is supported by majority of the banks. It allows you to instantly transfer money to any account almost immediately at any point of time, 24x7.
• All the customers using the CoD feature will be able to avail the new facility.
• This facility works even on the bank holidays.

The Chief Product Officer at Snapdeal, Anand Chandrasekaran says that they hope the customers will never request a refund; but acknowledges that it's an important part of the business and end-user experience. He says that Snapdeal's refund policy allows it to make refunds very speedy. With the new policy in place, about 85% of the refunds are processed within the first 30 minutes of receiving the product at Snapdeal facility.

The system also supports 100% failover mechanism, which means the payment system will automatically switch back to NEFT, in case the IMPS reports failure. In such a case, the user will be informed and the payment will be delivered as per the NEFT schedule.

This is just one of the steps Snapdeal has taken to ensure a better customer experience. Earlier this year, in June, it partnered with GoJavas - the pan-India logistics company, to launch reverse pickups in flat 90 minutes. This new initiative allowed any users to get the product picked up in just 90 minutes after intimating Snapdeal. The service is functional in about 15 major cities in India.

Recently, I had to return a product I ordered from Amazon. Amazon took several days to make the refund as they kept waiting for the product to reach back their wearhouse. I had to contact the customer care support, who immediately released the payment; while the product was still to reach their facility.

We've had many of CEans complain about the poor service from Snapdeal in the recent times. Do you think the new policy will bring more customers to Snapdeal? Do you have any experiences to share?