With the PPI licence, the Bengaluru-based payment aggregator can offer digital payment solutions such as mobile wallets, prepaid cards and vouchers, which customers can load with funds and use for transactions.
“The PPI licence opens up a new field of opportunity for innovation in the payments landscape. Our focus has always been to provide secure, flexible and efficient payment experiences to Indian businesses as well as their customers. The PPI licence will help us build offerings that let internet businesses retain and grow their user base,” said Akash Sinha, CEO and cofounder, Cashfree Payments.
The company had in July obtained the payment aggregator cross-border licence, enabling transactions for imports and exports. It came after the RBI, in December 2023, granted it the payment aggregator licence, allowing it to operate in the online merchant payment segment.
Founded in 2015 by Sinha and Reeju Datta, Cashfree Payments processes transactions of about $80 billion annually, serving around 600,000 businesses in India for payment collections, vendor payouts, wage disbursements, bulk refunds, expense reimbursements and loyalty rewards. Backed by investors such as Y Combinator, Apis Partners and State Bank of India, the company has also launched products in eight other countries, including the US, Canada and UAE.
-
Marketing
Digital Marketing Masterclass by Neil Patel
-
Artificial Intelligence(AI)
Basics of Generative AI: Unveiling Tomorrow’s Innovations
-
Finance
Financial Literacy i.e Lets Crack the Billionaire Code
-
Web Development
Java 21 Essentials for Beginners: Build Strong Programming Foundations
-
Web Development
Mastering Full Stack Development: From Frontend to Backend Excellence
-
Marketing
Digital Marketing Masterclass by Pam Moore
-
Marketing
Digital marketing – WordPress Website Development
-
Artificial Intelligence(AI)
Mastering C++ Fundamentals with Generative AI: A Hands-On
-
Artificial Intelligence(AI)
AI-Powered Python Mastery with Tabnine: Boost Your Coding Skills
-
Strategy
ESG and Business Sustainability Strategy
-
Web Development
Advanced Java Mastery: Object-Oriented Programming Techniques
-
Artificial Intelligence(AI)
Master in Python Language Quickly Using the ChatGPT Open AI
-
Office Productivity
Advanced Excel Course – Financial Calculations & Excel Made Easy
-
Office Productivity
Mastering Google Sheets: Unleash the Power of Excel and Advance Analysis
-
Marketing
Modern Marketing Masterclass by Seth Godin
-
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
-
Artificial Intelligence(AI)
Tabnine AI Masterclass: Optimize Your Coding Efficiency
-
Web Development
Intermediate Java Mastery: Method, Collections, and Beyond
-
Web Development
JavaScript Essentials: Unlock AI-Driven Insights with ChatGPT
-
Web Development
Master RESTful APIs with Python and Django REST Framework: Web API Development
-
HR
Human Potential and the Future of Employment
-
Finance
AI and Generative AI for Finance
-
Web Development
C++ Fundamentals for Absolute Beginners
-
Web Development
Intermediate C++ Skills: Master Pointers, Structures and File Stream
-
Artificial Intelligence(AI)
Generative AI for Dynamic Java Web Applications with ChatGPT
Earlier this month, Cashfree Payments received a certification from the National Payments Corporation of India for its Unified Payments Interface Switch service, allowing it to integrate directly with any bank’s core systems to offer higher transaction success rates to its merchants.
Discover the stories of your interest
