Fri, Nov 22 2024
'Embedded Payments' is the first platform-centric payment solution for software platforms in India, introduced by Cashfree Payments, the top payments and API banking firm in India.
This solution gives software platforms the means to enable smooth payment experiences for companies, which promotes expansion.
"Innovation is the driving force behind everything we do at Cashfree Payments," stated Akash Sinha, CEO and co-founder. We are pleased to present Embedded Payments, the first platform-centric payments solution in India, which supports our goal of facilitating easy payments for end users and enterprises alike. Our state-of-the-art platform solution simplifies these interfaces, and it provides a smooth way to integrate businesses and handle payments and accounts."
The cutting-edge solution from Cashfree Payments is poised to completely transform how software platforms, such as billing platforms, SaaS or CRMs, enterprise resource planning (ERPs), and others, offer payment experiences to their end customers. Due to complexity, poor user experience, operational expense, and a lack of compliance understanding, software platform developers now have difficulty incorporating payments into the solutions they provide for online businesses.Consequently, internet companies or retailers implement payment systems independently. Software platforms can eliminate the requirement for their end customers to be sent to another page or website in order to complete payments for goods or services by integrating "Embedded Payments" into their platform. By doing this, all hiccups and drops brought on by outside payment redirections will be eliminated.
Digital platforms can delegate compliance-related tasks by utilizing Embedded Payments, which offer comprehensive risk and security checks and guarantee complete adherence to the most recent RBI payment requirements. Additionally, it can offer creative ways to monetize content, transforming payments into a reliable source of income. Without any redirects or external interfaces like those offered by typical payment gateways, platforms can give their clients with over 120 different payment options. With a straightforward connection, platforms may enroll users as merchants and handle payments, refunds, settlements, and other post-payment processes.
With a market share of more than 50%, Cashfree Payments is currently one of the top online payment aggregators and sets the standard for bulk payouts in India. One of the first online payment companies to be granted a Payment Aggregator license by the RBI was Cashfree Payments. The investment by SBI, the biggest lender in India, in Cash Free Payments highlights the company's contribution to the development of a strong payments ecosystem. All of the top banks collaborate closely with Cashfree Payments to develop the essential banking and payments infrastructure that supports the company's offerings. Major platforms including Shopify, Wix, Paypal, Amazon Pay, Paytm, and Google Pay are also linked with Cashfree Payments. Eight other nations, including the United States, Canada, and the United Arab Emirates, use Cashfree Payments solutions in addition to India.
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