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 The current systems offered by banks are outdated and are prone to errors," said co-founder and CEO of Cashfree, Akash Sinha.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.

Shaktikanta Das takes charge as 25th RBI Governor

Shaktikanta Das on Wednesday took charge as the 25th Governor of the Reserve Bank of India (RBI). Das took to social media and expressed gratefulness ...

Government likely to make announcement on RBI soon: Finance Secretary

The government is likely to make an announcement regarding Urjit Patel's successor as Reserve Bank of India's Governor later in the day, Finance Secre...

Court bans sale of Apple iPhone models in China for violating Qualcomm patent

A Chinese court has ordered a ban on the sale of several older Apple Inc iPhone models in China for violating two patents of chipmaker Qualcomm Inc, a...

India's Dangerous Experiment With Challenging RBI

India's government is conducting a dangerous experiment in economic management. This week, following renewed pressure to conform to the government's t...