Tag: Cashfree

Cashfree launches Banking-as-a-service offering ‘Accounts’

Banking & Finance

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Bengaluru-based Cashfree, a digital payments and banking technology company on Monday launched its Banking-as-a-service offering ‘Accounts’ to help neo-banks and fintech platforms integrate banking services into their product.

Accounts will allow businesses to offer features such as account opening, linking, deposits, check balance and interest earning to their customers, partners and vendors, the company said in an official release. It will help enable 100 per cent paperless bank account creation.

Also read: Cashfree raises funds from SBI

Currently supporting the creation and management of current accounts, Cashfree intends to add support for savings accounts, virtual accounts and other payments instruments soon.

“The product is currently running pilots with fintech start-ups, and will also enable other technology platforms to generate and customize payment instruments using Cashfree APIs,” it said.

Akash Sinha, CEO and Co-Founder, Cashfree said, “India is witnessing a dramatic rise in the number of digital-first start-ups and enterprises. While the ecosystem is evolving rapidly to adapt to the change, start-ups and tech-first businesses often struggle with access to banking services.”

“Cashfree aims to build a bouquet of Fintech APIs to help empower businesses and individuals. Our first product under it, ‘Accounts’, will not only allow businesses to open banking accounts for their customers to collect payments and make payouts easily, but also bring their customers under the fold of digital payments,” said Sinha.

The announcement comes close on the heels to the launch of the Account Aggregator ecosystem last week.

Cashfree works closely with all leading banks to build the core payments and banking infrastructure that powers the company’s products, and is also integrated with major platforms such as Shopify, Wix, Paypal, Amazon Pay, Paytm and Google Pay, it said.

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Cashfree appoints Arun Tikoo as SVP of Business and Strategy, BFSI News, ET BFSI

Banking & Finance

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Cashfree, a digital payments and banking technology company, has appointed Arun Tikoo as the Senior Vice President of Business and Strategy.

With the new appointment, Cashfree plans to expand its products, merchants, partnerships, and alliances while strengthening the existing distribution network across industries. Arun will be responsible to oversee compliance, pricing, and operational setups of the new product launches.

Arun has over two decades of experience at financial institutions including SBI, Yes Bank, ICICI, and HDFC. He has onboarded startups across fintech, agritech, edutech, and e-commerce & aggregators.

Akash Sinha, CEO, and Co-Founder of, Cashfree said, “Arun Tikoo brings with him a wealth of traditional and digital banking experience. We are thrilled to have him on board. We are confident that Arun’s experience in the BFSI sector and his impressive network, built over 20 years, will propel Cashfree’s growth strategy. There are some exciting things in the pipeline at Cashfree and Arun’s expertise will be critical in helping us move swiftly in our goal of boosting digital payments in India and bringing more people into the financial ecosystem”.

The company aims to grow Cashfree’s footprint in international markets and partnerships with banks.

Arun Tikoo, SVP Business, and Strategy, Cashfree, said, “I am excited to be part of Cashfree at a pivotal growth period. Fintech is the future of the banking and payments industry. It is well-positioned to lead an overhaul of the banking industry in the next five years. As one of the fastest-growing fintech companies in India, Cashfree is poised to increase the industry’s digital footprint with its innovative offerings. My focus will be to create a clear product road map and drive Cashfree’s expansion into new geographies.”



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Cashfree raises funds from SBI

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Bengaluru-based Cashfree, a digital payments and banking technology company, has raised an undisclosed amount from State Bank of India (SBI).

Cashfree provides a full-stack payments solutions platform, enabling over 1 lakh businesses in India and across the globe to accept and disburse payments online through a single integration.

Currently ranked among the leading payment service providers in India, Cashfree processes transactions worth $20 billion annually. Apart from India, Cashfree’s products are used in 8 other countries, including the US, Canada, and the UAE.

Cashfree secures $35.3 million as part of Series B raise

Akash Sinha, Co-Founder and CEO, Cashfree, said: “The investment from India’s largest bank shows its trust in Cashfree’s innovation and the way we are rapidly scaling up the payments business. This also underscores Cashfree’s role towards building a payments ecosystem that enables the fastest and easiest way to collect payments and make payouts for growing businesses. As we work towards digitising the economy, we remain committed to bringing uniformity, transparency and a reduced turnaround time to digital transactions among Indian businesses. The investment fits perfectly with our growth strategy as we continue to focus on customer experience and product innovation”.

Incubated by PayPal, Cashfree is backed by Apis Partners, Smilegate and Y Combinator. Cashfree is used by Zomato, CRED, Nykaa, Delhivery, Acko, and Shell, among others, for various business payment needs such as e-commerce payment collection, vendor payments, and marketplace settlements.

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Cashfree ties up with Aramex, goes global with payouts solution, BFSI News, ET BFSI

Banking & Finance

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FinTech Cashfree has announced a partnership with Aramex, allowing the logistical provider to pay sellers in India for funds collected against postpaid orders in the Middle East. The partnership relies on using Cashfree’s Global Payouts solution, which allows FinTechs, eCommerce marketplaces, logistics platforms and remote staffing platforms, rails for cross border money transfers to Indian bank accounts, without having to establish a legal entity in the country.

Akash Sinha, CEO and Co-Founder, Cashfree, on the partnership said “With Global Payouts, we enable international businesses to pay their sellers, service providers or freelancers in India directly in their local Indian bank account. We are delighted to partner with one of the world’s foremost logistics and transportation companies, Aramex, to empower Indian sellers to take their businesses global.”

Aramex’s Regional Director – South-eastern Asia & India Subcontinent, Samer Marei, noted “The findings of our extensive market research showed that Cash on Delivery is the most preferred payment mode by online shoppers in the MENA region. On the other hand, the findings also showed that one of the main challenges e-tailers face is delayed funds transfer, which ultimately impacts their operations and cash flow management. To address this gap, together with Cashfree, we would provide merchants in India convenient and flexible options allowing them to receive money instantly from online purchases.”

“This FinTech based solution supports the demands of these markets and enables Indian e-tailers to penetrate the MENA region’s markets. It also ensures retail businesses are able to seamlessly process transactions, ultimately improving cashflow management, boosting order acceptance rates, and enabling those businesses to focus on profitable growth,” Marei added.

Businesses using Cashfree’s Global Payouts solution can send payments in 17 currencies, including USD, EUR, GBP and JPY.



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