Akash Sinha Snapshot

Cashfree Payments offers the widest range of solutions including API banking platform Payouts that helps businesses send money instantly 24x7 to any bank accounts, UPI ID, card, or wallet with a simple API that businesses can integrate with their product, instead of uploading complicated files on corporate banking  portal.

 Cashfree Payment is for B2C transactions.

Around 2013-14, mobile penetration surged due to better data access, allowing entrepreneurs to reach more customers online. However, payment systems struggled to keep up, primarily serving offline businesses and relying heavily on cash-on-delivery (COD). Digital payments were slow, with settlements taking 2-3 days, which hindered startups and the gig economy.

Recognizing the need for a seamless solution, Akash Sinha and Reeju Datta aimed to create a platform that addressed various payment issues, enabling online businesses to focus on their core products rather than payment problems. This vision laid the foundation for Cashfree Payments, transforming how digital transactions are handled in India.

Cashfree Payments collaborates with leading banks (SBI, HDFC, ICICI), fintech investors (Y Combinator, Apis Partners), e-commerce giants (Amazon, Zomato, Nykaa), and payment networks (Visa, Mastercard, NPCI) to provide seamless digital transactions. It is also backed by SBI and incubated by PayPal.

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