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Cashfree Payments Pilots Cross Border Payments

Inc42 · 9m ago

Cashfree Payments Pilots Cross Border Payments

Cashfree Payments, a fintech startup, has partnered with leading Indian companies including Swiggy, Zepto, Nature's Basket, Nykaa, Bookmyshow, Redbus, and Vedantu to launch a pilot program for cross-border payments. The program focuses on catering to UPI and RuPay card users, who are not traditionally accessible for international transactions. Cashfree Payments recently received the RBI's prepaid payment instrument license to facilitate purchases and fund transfers with preloaded value. This collaboration aims to enable overseas customers to make payments in India.

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Tackling fake Aadhaar cards and cross border payments: Inside Cashfree’s next phase of growth

YourStory

YourStory · 3m ago

Tackling fake Aadhaar cards and cross border payments: Inside Cashfree’s next phase of growth

Cashfree Payments, a Bengaluru-based fintech company, focuses on AI-driven fraud prevention and cross-border payment solutions. The company plans to expand its Secure ID fraud-detection suite and capture cross-border payment flows, anticipating substantial growth. Cashfree leverages AI for identity verification and fraud detection, contributing significantly to its revenue. Co-founders Reeju Datta and Akash Sinha highlight their strategy of building robust infrastructure to facilitate international and domestic transaction flows, aiming to strengthen their position in India’s digital payments market.

Cashfree appoints Nitin Pulyani as its head of product

Economic Times

Economic Times · 10m ago

Cashfree appoints Nitin Pulyani as its head of product

Digital payments startup Cashfree Payments has appointed Nitin Pulyani as its Head of Product and Senior Vice President. Pulyani, who previously worked with fintech companies like PhonePe and Jupiter, will lead product innovation and develop growth strategies for Cashfree. This appointment comes after Cashfree recently secured licenses from the Reserve Bank of India for payment aggregation and cross-border payments. With transaction worth $80 billion annually, Cashfree serves over 600,000 businesses and is expanding its presence in West Asia through its partner, Telr.

E-rupee in circulation grows to over Rs 1,000 crore; RBI exploring cross-border CBDC pilots

Economic Times

Economic Times · 2m ago

E-rupee in circulation grows to over Rs 1,000 crore; RBI exploring cross-border CBDC pilots

As of March 2025, the e-rupee in circulation rose to Rs 1,016 crore from Rs 234 crore a year prior. The Reserve Bank of India (RBI) is exploring CBDC pilots for cross-border payments to address efficiency and transparency challenges. The CBDC, initially launched in November 2022, aims to enhance cross-border transactions. The RBI is working with the Bank for International Settlements, exploring programmability use cases, and expanding retail and wholesale pilots.

PayPal gets RBI nod for facilitating outbound cross-border payments

YourStory

YourStory · 2m ago

PayPal gets RBI nod for facilitating outbound cross-border payments

PayPal Payments Private Limited, an Indian subsidiary of PayPal Holdings Inc., has received in-principle approval from the Reserve Bank of India to operate as a Payment Aggregator for Cross Border Exports. This regulatory nod enables PayPal to facilitate outbound payments for Indian merchants in global trade under a regulated framework. While PayPal focuses on outbound cross-border payments in India, the competitive landscape is intensifying with similar approvals for other firms like Cashfree Payments and Amazon Pay.

Cashfree Gets RBI’s Prepaid Payment Instrument Licence

Inc42 · 9m ago

Cashfree Gets RBI’s Prepaid Payment Instrument Licence

Cashfree has become the first fintech company to secure licences for payment aggregator (PA), payment aggregator-cross-border (PA-CB), and prepaid payment instrument (PPI) from the RBI. The PPI license will allow Cashfree to issue prepaid payment instruments such as cards and digital wallets. Founded in 2015, Cashfree offers a comprehensive digital payments solution platform.

Cashfree raises $53 mn from Krafton, Apis; bullish about UAE expansion

The Arc Web

The Arc Web · 5m ago

Cashfree raises $53 mn from Krafton, Apis; bullish about UAE expansion

Cashfree Payments raised $53 million in a Series C round, led by Krafton and Apis Growth Fund II, boosting its valuation to $700 million. The company plans to use funds for UAE expansion and enhancing cross-border payments, having acquired Telr for $15 million. Currently processing $80 billion with 800,000 merchants, Cashfree targets 80% revenue growth in FY25. The RBI's payment aggregator license lifted restrictions, spurring a 130% surge in merchant sign-ups.

Cashfree Becomes First Entity To Get Cross Border PA Licence From RBI

Inc42 · 1y ago

Cashfree Becomes First Entity To Get Cross Border PA Licence From RBI

Cashfree, a startup, has been granted the PA-CB-E&I licence which will allow them to facilitate cross-border online transactions for import and export of goods and services. This licence will provide Indian exporters and freelancers with cross-border payment solutions.

Fintech is making global payments its business

Economic Times

Economic Times · 1y ago

Fintech is making global payments its business

Domestic payment aggregators in India, including Razorpay and Cashfree, are hurrying to obtain a license for offering international payment services. Both new entrants and existing companies must apply to the Reserve Bank of India for a payment aggregator-cross border (PA-CB) license by April 30. This move is driven by the potential for higher margins in international transactions, as well as the opportunity to justify high valuations for local startups. The market for big-ticket cross-border merchant payments is expanding, but there are complexities such as KYC compliance and remittance limitations to consider.

NPCI Seeks For Real-Time Payment Connectivity Between Indian and US Banks

Inc42 · 1y ago

NPCI Seeks For Real-Time Payment Connectivity Between Indian and US Banks

The National Payments Corporation of India (NPCI) is in advanced talks with banks in the United States to establish real-time payment connectivity between the two countries. The NPCI, in collaboration with Indian and foreign banks, is working on creating use-case models and conducting testing pilots within the unified payments interface (UPI) ecosystem. The goal is to expand on the progress made by the NPCI in establishing cross-country systems and enable quicker and secure cross-border money transfers for residents of both nations.

Cashfree Payments’ net loss widens 46X to INR 133.1 Cr in FY23

Inc42 · 1y ago

Cashfree Payments’ net loss widens 46X to INR 133.1 Cr in FY23

Cashfree Payments, a fintech platform, reported a significant increase in net loss, widening it by 46X to INR 133.1 Cr in FY23 compared to INR 2.9 Cr in the previous year. Despite a YoY rise in operating revenue and commission income, the net loss surged due to a sharp jump in employee costs. Cashfree spent a substantial amount on payment gateway processing charges, employee benefits, advertising, and promotional expenses. The startup aims to expand its offerings and has received approvals from the Reserve Bank of India (RBI) for cross-border payments and to operate as a payment aggregator.

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