Cashfree Payments has introduced ‘Embedded Payments’. This launch marks India’s inaugural platform-centric payment solution tailored for software platforms, aiming to streamline payment processes for businesses and enhance their growth potential.
Akash Sinha, the CEO and Co-Founder of Cashfree Payments, expressed enthusiasm about the innovation, stating, “At Cashfree Payments, innovation is at the heart of our operations. We are excited to launch Embedded Payments, a pioneering platform-centric payment solution in India, designed to simplify payments for businesses and consumers alike. Our state-of-the-art solution is crafted to facilitate easy integrations for platforms, enabling them to effortlessly onboard businesses, manage accounts, and handle payments.”
‘Embedded Payments’ is poised to transform the payment experiences offered by software platforms, including Enterprise Resource Planning (ERPs), Customer Relationship Management (CRMs), SaaS, billing platforms, and similar entities. Traditionally, the integration of payment systems has posed challenges such as complexity, subpar user experiences, operational burdens, and compliance hurdles. Consequently, online businesses often resort to independently integrating payment systems. The ‘Embedded Payments’ integration allows end-users to conduct payments directly within the platform, negating the need for redirection and thereby reducing disruption and drop-off rates.
Furthermore, ‘Embedded Payments alleviate the burden of compliance for digital platforms by incorporating stringent risk and security measures and ensuring adherence to the latest RBI guidelines. This innovation opens up new avenues for monetization and supports over 120 payment methods without necessitating redirections or external interfaces, unlike conventional payment gateways. It simplifies the process for platforms to onboard users as merchants and manage payments, refunds, settlements, and other post-payment activities with minimal integration effort.
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Cashfree Payments is a leader in online payment aggregation and dominates the bulk disbursal segment in India, commanding over a 50% market share with its ‘Payouts’ service. The company has earned the distinction of being among the first online payment providers to secure the Payment Aggregator license from the RBI. Its significance in the payments ecosystem is further highlighted by an investment from SBI, India’s largest lender. Collaborating closely with leading banks, Cashfree Payments is integral to the development of core payments and banking infrastructure. The company’s solutions are integrated with major platforms like Shopify, Wix, PayPal, Amazon Pay, Paytm, and Google Pay, and are available in eight countries, including the USA, Canada, and the UAE.
