Ringing Bells started refunding customers due to allegations of fraud

Ringing Bells a noida based Start-up Company to offer the world’s cheapest Smartphone, Freedom 251 for 251. But there is negative publicity in the media on the company in last 10 days.

So, the company decided to refund the amount paid by the customers for pre-booking the device. For payments having done, Ringing Bells used CCAvenue as the payment gateway on its website.

CCAvenue told that, it has started refunding 84 lakh worth 30,000 transactions made by 14,800 unique customers.

The payment of the Smartphones will be accepted by the company in Cash on delivery mode for all the 25 lakh bookings received by the company.

Vishwas Patel, CEP of Avenues India, the parent company of CCAvenuge said, “Due to negative publicity in media and scrutiny by the government, the merchant has asked us to refund all transactions.”

The refunds of the customers have been already started and will end by Monday. And now the company will only use cash on delivery for payment.

The director of Ringing Bells, Mohit Goal said, “There was a lot of negativity around us, so we have decided to take money from customers only after delivering phones to them. We are refunding the money to those who have paid for booking the phones, and giving them the option of cash on delivery.”

Mohit Goel also claimed that company would be making a profit of Rs. 31 on each unit sold.

Goel also said “the payment gateway companies CCAvenue and PayU Biz had sought the time till Wednesday to refund the customers money. And then we will send an email seeking confirmation for cash on delivery.”

The CEO of PayU, Nitin Gupta said, “We have their money, and unless they give us delivery details, we will not release the money to them.”