Cashfree commences merchant onboarding after RBI approval

Empowering businesses with seamless payment solutions. Cashfree payments leads in India’s payments and API banking sphere securing aggregator license from RBI

Hyderabad: Cashfree Payments, India's foremost payments and API banking company, announced that it secured the payment aggregator license from the RBI, making it among the pioneer payment service providers to achieve this milestone. Cashfree Payments is actively welcoming merchants from all corners of the country onto its platform.

A spokesperson for the company remarked, "Securing the payment aggregator (PA) license from the RBI marks a pivotal moment for Cashfree Payments, affirming our commitment to compliance and emphasizing the importance of a well-regulated payments landscape. We are actively onboarding new merchants onto our payment gateway. We are thrilled about this new phase of our journey, where we aim to continue driving exponential growth and maintain our market leadership as the preferred aggregator in the payments domain."

Presently, Cashfree Payments empowers over 300,000 businesses with an array of services including payment collections, payouts, bulk refunds, expense reimbursements, as well as loyalty and rewards offerings. Over the past year, it has introduced various products such as identity verifications, escrow management, BNPL (Buy Now Pay Later), an orchestration platform, and cross-border payment solutions.