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p/cashfreeCashfree is a payments and banking technology company.
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Kat Manalac

Payouts by Cashfree — Instant & automated payouts to bank accounts in India 🇮🇳

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Cashfree Payouts is a money transfer API for sending money to any bank account in India. Our simple, RESTful APIs take less than 1 hour to integrate and let you build bank transfers into your product.

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Akash Sinha
Maker
Hi Hunters! I'm Akash, the Co-founder of Cashfree. Cashfree was started to make payments for businesses (both online & offline) fast, automated and secure. We noticed businesses investing in hiring & managing accounts team to take care of their inward and outward payments. Products built by us (like Cashfree Payout) empower developers to automate payment flows resulting in (i) enriched product experience and (ii) making overall business ops super efficient & low cost. More on Cashfree Payout - Features: - Send money to any bank account instantly (Currently available in India. Launching soon in other geographies) - Integrate Cashfree's Payout API with your website, app, ERP and facilitate automated Payouts and withdrawals - Works 24x7, even on bank holidays - Easy Reconciliation for failed/reversed payouts. No more skimming through long bank statements and doing the guess work. - Easy to use web dashboard. Much needed for daily/hourly accounting. - PHP, Python and Ruby library available - Built for scale. Process upto 50K payouts per day - Webhook notification for all events Cashfree Payout is already being used for - Instant Refunds - On-demand payouts to contract workers/delivery staff/drivers - On-demand loan/micro-credit disbursement - Bank account verification - Automating Vendor Payouts - Automating reward disbursals on gaming app - Wallet withdrawals to bank account - Payroll & Reimbursements - Marketplaces - Commission Payouts - Affiliate Payouts Happy to answer your questions. Cheers!
Abhiram
@sha26 I work at ShopX. We are a e-distributor of FMCG and mobile goods to kirana store and mobile shop owners. We have a shopping app that the store owners use to order products. We have a closed wallet. Currently, we are using Yes Bank E-collect to let our users (kirana store owners) top up their wallet. They have to download BHIM or any other UPI payment service, add a payee and then they can top-up their wallet instantly when they want to transact. 2 questions: 1. How can Cashfree make this process better? 2. What are the charges per transaction? Will the user be charged anything?
Reeju Datta
Maker
@sha26 @maribha Payouts is a disbursal product per se; ShopX would use Payouts to settle money to brands. For collections, if any part of the current reconciliation process at ShopX is manual, we have APIs to reconcile receivables instantly. Available payment options will also be much more than just NEFT-IMPS. I will connect with you to discuss this. Routing both collections and disbursals through Cashfree will help ShopX track cashflow better and also improve liquidity. We work with similar e-distributors and help them collect and disburse money from around 18000 retailers.
Luka
@sha26 great stuff! Who’s your banking partner/processor? How do you do compliance and KYC checks?
Akash Sinha
Maker
@prokotasic NPCI is the processor and we are integrated with them through multiple sponsor banks. We currently do manual KYC of the merchants we onboard for Payout Services and make sure their business is not shady.
Raj Nandan Sharma

They have probably the easiest set up with their rest apis

Pros:

Easy set up.

Cons:

ONo consNode js

Kevin Wu
Looks nifty!
Luka
Interesting stuff.... How long does KYC take?
Akash Sinha
Maker
@prokotasic It takes less than 24 hours.
Max De Vos
I've been following you guys since you were in the PayPal incubator and I've been cursing you guys since you got the Cashfree.com domain before we did =P I wish you the best and call dips on the domain if it ever becomes available again. Oh and all those visitors from Belgium that you're getting were probably ment for us! Same goes for our Indian visitors. Regards, Max from Cashfree.be
Reeju Datta
Maker
@max_de_vos Glad to finally come across the good folks behind Cashfree.be On point about the visitors: I've done a few support calls that were probably meant for you :D
Max De Vos
@reejudatta oh dear 😅 the confusion must have been through the roof. Feel free to send them our way and we'll do the same for you
Shashwat Srivastava
Great product guys! I have a question regarding payment options. Do you support payment collection via UPI?
Akash Sinha
Maker
@shash_12 Yes, Shashwat. We do. Why don't you drop us an email at care@gocashfree.com? Our team will help you get started.
Sagar Honakeri
Great job indeed! How is Cash free better than Google's Tez?
Siddharth Ramesh
@sha26 Will you ever support subscriptions with international card support? Amex, Visa, MasterCard. Also, the idea that individual developers have to register a company just to accept payments via their app, sucks. Will you support individual accounts?
Funky Tradition
Hi @sha26 , Product is good but you need to work on your support system. Its been 4 days and KYC is still under review and your customer support have no idea when it will be approved and they are least bothered.