Cashfree celebrates five years since its foundation on September 23, 2015. With the launch of 12 products and solutions, including six first-of-its-kind fintech innovations – Payouts, Instant Refunds, Cashgram, Pre-Authorization, Subscriptions & Instant Settlements, Cashfree has grown its business and employee strength manifold. Currently, more than 50000 businesses are using Cashfree to process over Rs 75000 crores annually. The company’s prowess in rapidly digitising payments in India’s burgeoning fintech sector is marked by payments innovations catering to a diverse set of cases and industries, such as e-commerce, lending, insurance, edtech, gaming etc. To mark the occasion of its fifth anniversary and to drive increased adoption of digital payments, Cashfree has announced free trial offers for new merchant partner sign-ups.
Akash Sinha, CEO and Co-Founder, Cashfree said, “We understand that businesses need payment platforms that offer easy to integrate, fast, seamless and secure solutions, now more than ever. For the past five years, we have been working towards bringing innovative products to the market that help not only businesses but also their end-consumers. At Cashfree, we were able to achieve this milestone with the help of our dedicated teams and by instilling a culture of enhancing customer experience. To make high-quality digital payments solutions accessible to Indian businesses, we are offering free trials for merchant partners who wish to explore how to leverage the power of the online payment experience for their customers.
Reeju Datta, Co-Founder, Cashfree said, “We are very excited to be playing a key role in India’s digital growth story backed by a robust financial technology infrastructure. Till date, 130 million accounts have sent or received money using Cashfree — that is 10% of our country. We are currently integrated with more than 100 banking and strategic partners and handle 15 million daily transaction requests on average. Building on the trust of our customers and driven by the entrepreneurial spirit, we aim to expand our offerings to strengthen the payments infrastructure in India.”
New sign-ups can process transactions worth ₹6 lakhs GMV, split equally between Cashfree’s Payment Gateway and Payouts at zero cost.
Cashfree has also recently introduced industry-specific suites for insurers, lending and edtech businesses, as well as announced the launch of UPI stack for all business payment needs including collections, disbursals and verifications. Cashfree’s Instant Settlement feature helps enterprises access funds within 15 minutes of payment capture via its payment gateway as compared to the industry standard of 2 – 3 business days. The feature also helps online businesses with increased working capital availability and has reportedly witnessed rapid adoption within the first few weeks of its launch.