Cashfree Payments strengthens D2C offerings with Zecpe Acquisition

State Bank of India( SBI)- backed Cashfree Payments has made its alternate accession through one- click checkout company, Zecpe, the company said on Tuesday. The accession is anticipated to help Cashfree enhance its immolations for direct- to- consumer( D2C) brands as it looks to help businesses ameliorate transformations through quick checkouts. Cashfree is also looking to add capabilities similar as – return to origin( RTO) reduction on returns, fraud discovery, and address pre-filling, among others – to ameliorate shopping gests for consumers of partnered D2C brands. previous to this, Cashfree had picked up a maturity stake in UAE- grounded payment result provider, Telr, in 2021 for$ 15 million, to expand into Middle East requests and bolster its cross-border payment capabilities.

The accession comes at a time when Cashfree has been banned from onboarding new users for payment gateway services by the Reserve Bank of India( RBI). Others like rival Razorpay too have been broke from bringing new users in as the central bank asked the Bengaluru- grounded incipiency to suffer fresh checkups. Amid the ongoing backing crunch, Cashfree laid off near to 100 workers in January, this time, to reduce its burn, ETtech first reported. " We see immense solidarity between our being products and the results offered by Zecpe, making it an excellent addition to our D2C Payments Suite enabled fore-commerce businesses. We're certain that this accession will strengthen our D2C one- click checkout capabilities and further elevate our leadership position in the SMB space," said Akash Sinha, principal superintendent and cofounder, Cashfree Payments.

As a part of the sale, Zecpe author Hriday Agarwal along with his platoon will be joining Cashfree Payments. Agarwal will be heading the ecommerce checkout division for the payments provider, with his platoon helping gauge the checkout offering further. " D2C space is exploding in India and presents a fantastic occasion to help ecommerce players increase their conversion rates and reduce cash- on- delivery( COD) fraud and returns. We see a natural fitment with Cashfree Payments' payments mound, ” said Agarwal. before this week, consumer fintech Cred, blazoned its incursion into the buy now pay later ( BNPL) space with Cred Flash, to help consumers with more accessible and briskly checkout gests on the app, as well as on other online platforms including Swiggy, Zepto, Urban Company, Licious, among others.