Hi PH ๐๐ป, I'm Akash, the Co-Founder of Cashfree.
Cashfree is a Y Combinator backed bulk payout and payment gateway solution for businesses. Cashgram is our latest release -- a weblink businesses can send users to collect account details and make a payment.
Unlike collecting money from users, sending money to users for cash-on-delivery order refunds, rewards, reimbursements etc has always been a slow, ops heavy process often prone to errors. It has demanded coordination between product, customer support and finance team to ensure timely disbursal. Businesses have to ask for a customer's bank account details, card number over email, chat or phone which also makes many customers uncomfortable ๐
Cashgram has been built to make that process smooth, user-friendly and accurate. It reduces the ops cost for businesses to ZERO and lets customers receive money without having to share their account details with a business ๐
How It Works: Business sends a Cashgram link to the user. User enters their account details (UPI, bank account or PayTM). Payout is received in their preferred account, instantly.
Features :-
a) On-the-fly validation of customer provided details. Throws error in real-time if they provide incorrect bank account number or UPI VPA.
b) Cashgrams are secured via OTP authentication ๐
c) Instant transfers ๐
d) Supports 4 popular modes to withdraw: Bank account number, UPI ID, PayTM and Debit cards (issued in India).
e) Auto-expiry of Cashgram, if not redeemed by the prescribed time frame โ๏ธ
f) Works fabulously on mobile devices. Desktops are supported too.
g) API support available ๐ค
Use cases :-
a) COD Refunds/Returns at E-commerce stores
b) Rewards disbursal on Fantasy Sports/Online Gaming apps
c) Payouts to marketing affiliates
d) Gifting (alternative to gift cards)
e) Disbursals on P2P lending platform
f) Expense reimbursements
Happy to answer your questions!
PS: To try a Cashgram, drop a message below, and we'll Cashgram you some cash ๐ธ
@sha26 Hi Akash, Your target audience is E-Commerce and SaaS companies. If you need help in identifying all the e-commerce and SaaS companies in India and reach out to decision maker, we can help you out. Check our product : www.easyleadz.com
@sha26 this changes everything (especially for rewards in the non-profit sector) reaching out big time! And such an amazing product. My hats off to you and your team โบ๏ธ
@nivasravi Currently, Yes. Underlying stacks that we use right now are specific to Indian users. We are working with global payment network to facilitate this worldwide. Try to roll them out soon.
@anandsoniindia Cashgram is the first tool that let businesses send money to users without asking for any personal details. You might have confused it with payment links to accept payments from customers. Cashgram does the opposite. Do head over the description section. We have shared lots of use cases of it. Cheers!
@igityan_hayarpy Cashgram is the first product to help businesses simplify the process of sending money to users. If you have to reward your users, pay your affiliates, incentivise your customers etc then Cashgram is the perfect fit for that.
Congrats Akash, Reeju & team Cashfree, good to see you're trending on PH. Was intrigued to know how this will work. It will be great if you can add a pseudo transactional demo or a video on your website.
@sha26 Great product! and reasonable price for India market. We are trying to find a way to integrate this with our offers to India based customers. but the response on payout relevant pricing is slow (!!), not sure why. for a payment app, isn't it logical to have high speed emails? Is it a typical Indian bank or a real app?
We tried here, we tried the chatbot, got support emails. All we get is lets have a call :-| we are starting up from west coast Los Angeles area to integrate apps for Asia, but the Indian support team wants to have a call? for what reason should i share my phone number? just send us pricing per transaction for payouts and we will evaluate.
Cheers from Los Angeles :-)
Cashfree