Country for PR: United Kingdom
Contributor: PR Newswire Europe
Thursday, December 17 2020 - 00:04
Cashfree introduces 'Global Payouts' for International Businesses to Remit Payments Directly to Bank Accounts in India
BENGALURU, India, Dec. 16, 2020 /PRNewswire-AsiaNet/ --

- Allows international businesses to pay their sellers, service providers or 
freelancers in India directly in their local Indian bank account

- International businesses can send money in their preferred currency including 

- While traditional cross border methods including wire transfer and wallet 
payments take two to three days for funds transfer, Cashfree allows for instant 
24x7 funds transfer

    Payments and banking technology company, Cashfree 
[], has launched the company's Global Payouts solution 
for instant cross border payments that can be availed by international 
businesses to pay their sellers, service providers or freelancers in India. 
This solution allows businesses to make instant transfers directly to local 
bank accounts of recipients in Indian Rupees (INR) instead of the usual 
transaction time of two to three days with traditional cross border money 
transfer methods like wire transfers and wallet to wallet transfers.

    The launch of Global Payouts enables Cashfree to offer businesses such as 
fintechs, e-commerce marketplaces, logistics platforms, remote staffing 
platforms etc. based outside India, an instant, simple, and cost-efficient 
rails for bulk cross border money transfers to India. International businesses 
can use Cashfree's solution without having to set up a place of business in 
India. While businesses can send payments in 17 currencies, the solution also 
helps the recipient partners and sellers obtain the necessary certificates for 
their regulatory filing.

    Akash Sinha, CEO and Co-Founder, Cashfree, said, "As India is the second 
largest market for cross border commerce, we realised the need for a fast, 
simple and cost-effective way to make cross border payouts to India. With 
Global Payouts, Cashfree opens the door for international businesses to 
automate seamless cross border payments to India. We have been piloting the 
feature with a set of our global users and are excited to make the feature 
available to all businesses looking to make payouts to India."

    Cashfree has been working with global businesses including Shell, Tencent, 
and HDFC Ergo with its collection and disbursal solutions for payments to their 
operations in India. In the first phase of Global Payouts, Cashfree is 
targeting businesses across geographies including US, LATAM, Middle East, APAC 
and Africa.

    For media queries, please contact: Elita Sequeira, +91-9740648708, 


    Source: Cashfree