CUSTOMER STORIES
Furlenco Automates Security Deposit Refund Process And Enhances Customer Experience Using Cashgram By Cashfree Payments
Cashgram“Through Cashgram we are using all payment modes -IMPS, UPI & Paytm. From the customer’s point of view, the refund settlement process is instantaneous. The moment Furlenco picks up your furniture, Furlenco is able to disburse the refund right away. There is a phenomenal shift in customer experience.”
Mr. Varun Krishnakumar
Director of Products of Furlenco
About Furlenco
Furlenco is a leading subscription-based furniture and appliances rental company that lets customers book home appliances and furniture for rent. Customers make a security deposit against a product. The customers can choose monthly, quarterly or yearly rental subscription models as per their requirements. At the end of the subscription period, the product is picked up from the customer’s site and the security refund amount is returned to the customer using Cashgram by Cashfree Payments.
Image Source: Furlenco
Challenge
Manual, error-prone security deposit refund process
At the start of a subscription, Furlenco collects refundable security deposits from the customers.
Furlenco used a manual process to refund the initial security deposit to the customer before partnering with Cashfree Payments. To initiate the refund, the company would ask for the bank details of the customers via a form and send it to its internal finance team. After aggregating refund requests, the Finance team created a spreadsheet which was uploaded to their bank’s portal for refund disbursement. Afterward, the processed file had to be downloaded and re-uploaded to the company’s database. Furlenco’s refund process became very time-intensive, increasing the refund time for customers as well.
Solution
Secure, simple refunds through Cashgram Payout Links
In order to improve the customer experience, Furlenco partnered with Cashfree Payments to speed up the refund process. Through Cashgram by Cashfree Payments, Furlenco automated the entire security refund payout process.
Cashgram is a payout link that helps businesses process refunds, reimburse expenses to employees, or simply pay vendors and partners when only their email address/phone number is known. With just the mobile number of a user, money can be sent to a user via a link.
Once a customer ends their Furlenco rental subscription, a team picks up the product. A Cashgram payout link with the security amount is generated automatically as soon as the product is picked up by Furlenco. The link is shared with customers over WhatsApp. All the customers have to do is enter their preferred account details and the amount gets credited instantly. Customers can select from a range of payment options like bank account, UPI, Paytm, AmazonPay or card. With Cashgram adoption, the refund process has been automated and the company has been able to scale more quickly.
Why Cashgram?
Why Cashgram?
Cashgram by Cashfree Payments is a payout link, that helps businesses send money to their beneficiaries when their bank account details are not known. It gives businesses a way to simplify their refund payments and easily send money to their customers when they have only their email address/phone number.
Businesses can also customize their Cashgram links to reflect their brand and provide their customers with an enhanced experience!
With just the mobile number of a user, money can be sent to a user via a link. Innovative businesses like Furlenco, Nykaa, Ritu Kumar, etc use Cashgram for various use cases like customer refunds, customer loyalty rewards, and other one-time payments.
Just like Furlenco, Cashfree Payments has helped 10,000 businesses accept payments. Our tech-first solutions scale with your business and ensure hassle-free payment collection.
Interested in exploring how Cashfree Payments can help your business?
Read more
Hummel India Secures a 20% Increase in COD Repeat Customers with Cashfree Payments
Founded in 1923, Hummel is a Danish sports brand that makes stylish and functional sports apparel and footwear, for nearly a century. In late 2019, Hummel entered the Indian market just before the pandemic. The brand was relatively lesser known in India, and the market was already crowded with well-established players. However, the brand’s emphasis
Read more
The Nestery Achieves 10x Growth in Reach with Cashfree Payments
Shopping for kids can be a challenging experience, given their rapidly changing needs as they grow. The Nestery set out to take on this challenge with their handpicked, safe, original, parent-approved products for parents and their little ones, with a lot of love and care. In this journey, they chose Cashfree Payments to be their
Read more
Akudo Achieves 98%+ Success Rate by Switching to Cashfree Payments
About Akudo Technologies Akudo is a neobank for teens powered by the purpose to enhance financial literacy and encourage financial learning in the adults of tomorrow. Akudo enables banking for teens by offering them the facility of opening a savings account and owning a prepaid VISA card. Being a financial learning-first neobank for teens, akudo
Read more