Set Refund Speed
Set the default refund speed at which to process refunds. You can also override the default refund speed.
You can configure the speed at which all the refunds should be processed for your customers.
Depending on your business needs, you can select from the following:
- Normal Refund
In this mode, the speed attribute is set tonormal. The customers will receive their refunds within 5-7 business days.
- Instant Refund
In this mode, the speed attribute is set tooptimum. Razorpay attempts to initiate fund transfer using IMPS, NEFT or UPI. The customer will receive the refunds instantly. If unsuccessful, Razorpay processes the refund via thenormalspeed.
The selected speed is set as the default speed and all the refunds, thereafter, will be processed at the chosen speed.
Watch this video to see how to set the default refund speed.
To set the default speed for all the refunds:
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Navigate to Account & Settings and click Capture and refund settings under the Payments and refunds section.
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In the Default Refund Speed section, choose between Normal Refund and Instant Refund.
Handy Tips
The chosen value is also applied as the default speed in the
.
You can override the default refund speed while refunding a payment from the Transactions → Payments tab of the Razorpay Dashboard.
Watch this video to see how to override the default refund speed while issuing a refund.
The possible ways in which you can switch between Normal and Instant Refunds are listed below:
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