Cashfree Launches Cashgram To Make E-commerce Refunds Fast And Simple - GADGETS AND INNOVATIONS

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Thursday, September 13, 2018

Cashfree Launches Cashgram To Make E-commerce Refunds Fast And Simple


Bangalore based payments technology company Cashfree, launches Cashgram, a smart payout system for one time payments, like Cash on Delivery refunds in e-commerce. Cashgram is an extension of Cashfree’sPayout system that enables businesses to send money to their user and vendors. 

Using Cashgram, companies can send a web link to their users requesting bank account information. On receiving the information, a one click refund can be processed instantly. Currently, e-commerce companies do this manually over multiple emails between customer, finance team and customer support team, very often leading to errors and delays. Cashgram also gives the users the option of sharing their UPI IDs or PayTM, instead of their bank account.

The product is live with popular e-commerce companies like Nykaa, Rentomojo, and Club Factory as initial customers. The payouts product is already doing about 50,000 transactions everyday.



Bangalore, Karnataka, India Sept 12 2018


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