Money & Banking

Cashfree launches digital payments solution for businesses

Our Bureau Mumbai | Updated on March 19, 2020 Published on March 19, 2020

Digital payments platform, Cashfree, has launched UPI Stack for Businesses, allowing businesses to collect and disburse UPI payments.

The product will be available through every UPI app, across both web and mobile (Android & iOS) platforms. Software developers will also be able to implement a desired payment flow for preferred platforms and collect payments via all UPI-based apps, the company said.

Cashfree’s move is in line with the new provision in the Income Tax Rules that mandates businesses with a turnover of over Rs. 50 crore should provide facilities to accept payments through prescribed electronic modes, including UPI.

Akash Sinha, Co-Founder and CEO of Cashfree said, “With this launch, we are enabling businesses to implement 15 UPI integrations for all their payment needs within a day’s work. We see this as a step to help product creators and businesses adopt UPI and make the most of the infrastructure for crucial business needs, such as payment collections, refund processing, vendor onboarding, and more.

Published on March 19, 2020
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