Fintech startup Cashfree Payments has pilot launched cross border payments in partnership with Swiggy, Zepto, Nature’s Basket, Nykaa, Bookmyshow, Redbus and Vedantu This pilot programme caters to UPI and RuPay card users, which are not typically recognised for global transactions The Bengaluru-based startup also received RBI’s prepaid payment instrument (PPI) licence, a few weeks ago, to facilitate purchase and fund transfer against a preloaded value Months after securing the Payment Aggregator Cross Border (PA-CB) licence , fintech startup Cashfree Payments has now joined hands with some major Indian companies to enable overseas customers to make payments in the country. This pilot programme caters to UPI and RuPay card users, which are not typically recognised for global transactions. As per ET, the Bengaluru-based company has partnered with foodtech major Swiggy, quick commerce giant Zepto, premium grocery platform Nature’s Basket, online beauty and fashion retailer Nykaa, online ticketing platform Bookmyshow, online travel reservation platform Redbus and edtech company Vedantu.
Inc42 has reached out to Cashfree for comments on the development. The story will be updated based on the response. “We are piloting with half a dozen sizable merchants that will be over by the end of this year,” the report quoted chief executive Akash Sinha as saying.
“If you are SaaS customer and the services range above $10,000- $20,000, you can’t ask your customer to make payments.