Cashfree Payments, India’s leading payments and API banking company, has announced the launch of ‘KYC Link,’ the country’s first no-code verification solution for Indian businesses, a significant step forward in easing digital identity verification for MSMEs, emerging, and digitally transitioning sectors. The solution reduces the need for substantial technical skills, allowing organisations to implement KYC solutions from day one, resulting in faster revenue generation from newly onboarded individuals.
Announcing the launch, Akash Sinha, CEO and Co-founder, Cashfree Payments said, “We are excited to introduce India’s first no-code verification solution, KYC Link, to help Indian businesses across MSMEs, emerging and digitally transitioning sectors address verification constraints seamlessly. Built and developed in-house, this solution will revolutionize customer experience, reduce user drop-offs and unlock a higher verification completion rate while helping businesses get compliant with applicable regulations at lower cost. At Cashfree Payments, we continuously problem solve through our engineering excellence and through industry-first launches like these, our aim is to build products and solutions that will support the Indian business ecosystem to grow, thrive and set new benchmarks.”
With KYC Link, merchants can easily send verification links to users’ mobile numbers by SMS, email, or WhatsApp, ensuring a seamless experience with a near-99% success rate. This process can be automated, saving the merchant time and resources, or done manually if they desire. The solution reduces user drop-offs, improves the overall customer experience, and delivers a better verification completion rate due to its user-friendly interface.
Addressing the technological excellence behind the groundbreaking product, Ramkumar Venkatesan, CTO at Cashfree Payments, “KYC Link is a powerful metadata-driven, no-code platform designed for dynamic customisation and easy maintenance. Our engineering team has utilized a proprietary Domain-Specific Language (DSL) and tools to generate customized dynamic forms for our merchants, ensuring a seamless user experience. We are excited to introduce yet another industry first product and look forward to delivering accessible and efficient solutions as per market requirements.”
KYC Link combines all existing Cashfree Payments verification options, such as Bank Account Verification (across a network of 600+ institutions), UPI, PAN, and Aadhaar, among others. Additionally, the solution allows businesses to develop personalised KYC verification links, with the option to include a business logo and colour scheme to enhance the brand experience.
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KYC Link is the newest addition to CashFree Payments’ Verification Suite, which is India’s fastest growing Verification Platform, with over 40 million people authenticated each year. Through an excel upload or a simple API integration, businesses may execute over 10,000 verifications at once. Cashfree Payments’ Verification Suite assists businesses in verifying the identity and source of funds of individual customers and partner businesses such as suppliers or service providers by authenticating Aadhaar, PAN, GSTN, bank accounts, and UPI handles, among other things.
