When it comes to the most payment-driven markets in the global landscape today, India is always top of mind – and for good reason. As a country, they lead the marketplace in digital payments (with more than 100 different digital payment options) and proactively foster a dynamic ecosystem ripe with opportunity for innovation.
My guest this week is CashFree Payments Co-founder Reeju Datta and his knowledge about this diverse payments landscape is vast. For those of you that may not know, CashFree Payments is an online platform that helps companies accept payments via more than 100 different payment methods, with one single integration. And 100 different digital options is pretty significant – especially in comparison to our local ecosystem that remains dominated by credit, debit and ACH.
According to Reeju, CashFree Payments was created to solve one major problem: how to facilitate cash payments at the time of delivery for e-commerce merchants. And in just a short amount of time, the company has managed to facilitate 3-4% of all bank transfers in the country and 10% of all bankcards.
As for their competitive advantage, they offer a more diverse approach to payments that looks beyond payment collection to more complex forms of commerce, including bi-directional and multi-directional payments capabilities, with a disbursement step that’s easy to integrate and automate.