Business

Cashfree launches 'Payouts' to make bulk payments easier

New Delhi: Bangalore based payment gateway company Cashfree, on Tuesday announced the launch of Payouts, a simple and automated way to send money in bulk to any account in India, instantly.
Payouts, which will enable businesses to send money to any account in India, including UPI-BHIM IDs, Cards or mobile wallets, will enable businesses to integrate Cashfree in their own system via an API or use a simple 3 column excel sheet to trigger transactions in bulk.
The product is live with popular startups like Rentomojo, Club Factory, Rummy Circle, Ketto and Early Salary to name a few. Hyperlocal delivery companies, like Dunzo are using it for wage payments and gaming companies, Rummy Circle are using it for instant cashouts for users.
"Payouts are revolutionary product for companies handling large number of daily transactions. The current systems offered by banks are outdated and are prone to errors," said co-founder and CEO of Cashfree, Akash Sinha.
"Payouts are taken care of all that and works even when it is a banking holiday. It not only saves operational overhead of processing payments, but the customer and vendor trust of the company also increases when they get their payouts instantly," added Sinha.

The structure of Chinese investment overseas continues to be better

According to figures released by the Chinese Ministry of Commerce on 16th July, China's investment abroad in January-June this year was 3 trillion 46 ...

Gold prices fell by Rs 70 to Rs 660 per kg on reduced offtake

Silver demand jumped by Rs 660 to Rs 40,190 per kg on Wednesday on increased demand from industrial units and coin makers. According to All India Sara...

eight per cent that is required for changing into a $5 trillion economy by 2025.

"We additionally got to be sound into foreign capital. In some sense it triggers this virtuous cycle and once this cycle is triggered, then we have a ...

Sebi issued forty seven warning letters to open-end investment company homes in 2018-19

Sebi issued forty seven warning letters to open-end investment company homes within the last twelvemonth, and also the watchdog in consultation with t...