Cashfree Payments has launched Embedded Payments, India’s first platform centric payment solution for software platforms. The solution equips software platforms with the tools to facilitate seamless payment experiences for businesses, thereby fostering growth.
Akash Sinha, CEO and co-founder, Cashfree Payments said: “Innovation is the driving force behind everything we do at Cashfree Payments. We are thrilled to introduce Embedded Payments, India’s first platform centric payments solutions. It aligns with our objective of making payments seamless for both businesses and end consumers. We have built a cutting-edge solution for platforms to make these integrations easy. It offers a seamless solution to effortlessly onboard businesses and manage their accounts and payments.”
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Revolutionising how software platforms offer payment solutions
Cashfree Payments says it will revolutionise the way software platforms like enterprise resource planning (ERPs), customer relationship management (CRMs), SaaS or billing platforms and similar solutions, provide payment experience to their end users. Currently, software platform developers struggle with integrating payments into the tools they build for online businesses. This is due to complexities, poor user experience, operational overhead and limited knowledge of compliance. As a result, online businesses or merchants separately integrate payment systems themselves.
With the integration of ‘Embedded Payments’, software platforms can enable their end users to make payments for products or services directly on the platform. This eliminates the need for redirection to another page or site for the payment process. This will eliminate any disruptions and drop-offs caused due to external payment redirections.
Turning payments into a sustainable source of income
By leveraging Embedded Payments, digital platforms can offload compliance-related responsibilities as it provides robust risk and security checks while ensuring total compliance with the latest central bank guidelines around payments. It can also provide innovative monetisation options, turning payments into a sustainable source of income. Platforms can offer their clients with 120+ payment modes, without any redirects and external interfaces as provided by traditional payment gateways. Platforms can onboard their users as merchants, manage payments, refunds, settlements and other post-payment workflows with a simple integration.
Cashfree Payments recently became one of the first online payment providers to receive the Payment Aggregator license by the RBI. India’s largest lender, SBI invested in Cashfree Payments underscoring the company’s role in building a robust payments ecosystem. Cashfree Payments works closely with all leading banks to build the core payments and banking infrastructure that powers the company’s products. Cashfree Payments is also integrated with major platforms such as Shopify, Wix, Paypal, Amazon Pay, Paytm, and Google Pay. Apart from India, Cashfree Payments solutions are used in eight other countries including the US, Canada, and UAE.
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