Stepping up for Digital India
Do you get confused while choosing a payment gateway? And then if you have to manage hundreds and thousands of online payment transactions daily, do you wonder which is the right one for you?
Kgpian Reeju Datta is offering a solution with Cashfree Payments, a start-up he co-founded as India gave the call for a cashless economy. But the startup, backed by State Bank of India (SBI) and Y Combinator, and incubated by Paypal, was quick to identify the difficulty in using online bank portals for daily payment disbursements. Cashfree Payments soon developed a dedicated bulk Payouts solution catering to 1,00,000+ businesses operating in India.
In a recent development, Cashfree Payments partnered with the digital healthcare platform PharmEasy to facilitate quick and convenient payment settlements to its retail partners. Talking about the payout solution Datta explained how it will help PharmEasy to automate their payment settlements to the retailers and vendor payout reconciliation within 48 hours of payments received from customers, without any manual intervention. Through this partnership, Cashfree Payments has also helped PharmEasy in tracking and processing bounced/failed payout transactions within 24 hours.
“We look forward to helping the company automate the entire payments process and contributing to its bid to make quality healthcare accessible to the masses," Datta said.
The startup has already captured over 50 percent market share among payment processors in India and emerged as a leader in bulk disbursals with its product Payouts.