{"id":11762,"date":"2020-03-12T05:04:34","date_gmt":"2020-03-12T05:04:34","guid":{"rendered":"https:\/\/yourchennai.com\/?p=11762"},"modified":"2020-03-12T05:04:34","modified_gmt":"2020-03-12T05:04:34","slug":"cashfree-introduces-suite-of-payment-solutions-for-lenders-and-nbfcs-to-foster-indias-lending-ecosystem","status":"publish","type":"post","link":"https:\/\/yourchennai.com\/index.php\/2020\/03\/12\/cashfree-introduces-suite-of-payment-solutions-for-lenders-and-nbfcs-to-foster-indias-lending-ecosystem\/","title":{"rendered":"Cashfree introduces suite of payment solutions for Lenders and NBFCs to foster India\u2019s lending ecosystem"},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div><p style=\"text-align: justify;\">Cashfree, India\u2019s leading business payments platform, has announced the launch of a suite of payments products, for lending companies and NBFCs, which allow easy loan disbursals to businesses and individuals across all platforms.<\/p>\n<p style=\"text-align: justify;\">Cashfree has pioneered instant loan disbursals with an integrated credit disbursal approach through its API banking product and is currently working with lenders, loan management software and banks. At present, Cashfree\u2019s solutions are used by many major lending businesses including the likes of Northern Arc, Early Salary and Chinese-owned NBFC, PC Finance, to name a few.<\/p>\n<p style=\"text-align: justify;\">The NBFC &#8211; Lending suite includes solutions such as:<\/p>\n<ul style=\"text-align: justify;\">\n<li><strong>Payouts<\/strong> \u2013 Facilitates instant loan disbursals from a lender\u2019s bank account via IMPS or UPI<\/li>\n<li><strong>Bank Account Verification<\/strong> \u2013 Allows API verification of borrower\u2019s bank account number<\/li>\n<li><strong>Collection solutions like Subscriptions via e-mandate<\/strong> \u2013 Automates loan repayment collection by allowing borrowers to authorize lenders to debit their accounts<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>Akash Sinha, CEO &amp; Co-founder of Cashfree said, <\/strong>\u201cThe lending ecosystem has witnessed remarkable transformations, and is now marked by changes in operations, availability of capital, new laws and regulations around lending, differences in borrower eligibility criteria and terms of loan acquisition and repayment, among others.\u201d<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-11125\" src=\"https:\/\/yourchennai.com\/wp-content\/uploads\/2020\/02\/Reeju-Datta-Co-Founder-of-Cashfree-and-Akash-Sinha-CEO-and-Co-Founder-of-Cashfree-300x194.jpg\" alt=\"Reeju Datta Co-Founder of Cashfree and Akash Sinha CEO and Co-Founder of Cashfree\" width=\"300\" height=\"194\" srcset=\"https:\/\/yourchennai.com\/wp-content\/uploads\/2020\/02\/Reeju-Datta-Co-Founder-of-Cashfree-and-Akash-Sinha-CEO-and-Co-Founder-of-Cashfree-300x194.jpg 300w, https:\/\/yourchennai.com\/wp-content\/uploads\/2020\/02\/Reeju-Datta-Co-Founder-of-Cashfree-and-Akash-Sinha-CEO-and-Co-Founder-of-Cashfree-768x497.jpg 768w, https:\/\/yourchennai.com\/wp-content\/uploads\/2020\/02\/Reeju-Datta-Co-Founder-of-Cashfree-and-Akash-Sinha-CEO-and-Co-Founder-of-Cashfree-115x73.jpg 115w, https:\/\/yourchennai.com\/wp-content\/uploads\/2020\/02\/Reeju-Datta-Co-Founder-of-Cashfree-and-Akash-Sinha-CEO-and-Co-Founder-of-Cashfree.jpg 900w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/p>\n<p style=\"text-align: justify;\">He added, \u201cInnovations in the payments technology space have played a crucial role in driving this evolution. Now, new fintech players are penetrating the market to supplement legacy leaders and drive innovation, enhancing flexibility and fostering technology adoption to stimulate healthy competition in the banking segment. As a result, the country has witnessed a significant rise in the amount of capital infusion in the system, by Indian and global participants, in the last 6 months.\u201d<\/p>\n<p style=\"text-align: justify;\">\u201cWith our lending payments suite, we intend to tackle this surge by speeding up the process of lending and recollection, all in all, while enhancing efficiency and user experience. Our goal is to provide flawless experiences and unparalleled services to the entire industry, including lenders, agents, banks and borrowers. Apart from assisting lending businesses, we are also working directly with loan management platforms and banks to bring more efficiency to the game,\u201d he added.<\/p>\n<p style=\"text-align: justify;\">Lenders can integrate Cashfree\u2019s lending suite with their existing loan management platforms and initiate disbursals from their bank account, instantly upon loan approval. Similarly, when a loan repayment is received, it is updated automatically in the loan management system.<\/p>\n<p style=\"text-align: justify;\">India\u2019s lending segment has witnessed massive developments since 2018, owing to the increasing demand for credit in the nation and rapid advancements in the fintech space. As per a joint study by Omidyar Network and Boston Consulting Group (BCG), the Indian digital lending market can grow up to 7 lakh crore by 2023. This means annual disbursements may multiply 15x within the next two years.<\/p>\n<p style=\"text-align: justify;\">Cashfree has recently launched its Instant Settlement feature, which helps businesses access funds within 15 minutes of payment capture via its payment gateway as compared to the industry standard. The feature helps online businesses with increased working capital availability and has reportedly seen rapid adoption.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cashfree, India\u2019s leading business payments platform, has announced the launch of a suite of payments products, for lending companies and NBFCs, which allow easy<\/p>\n","protected":false},"author":1,"featured_media":11124,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32,30],"tags":[15007,659,15851,15852,1739,12547,15850],"class_list":["post-11762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-companies-economy","category-news-business-political-national-realestate","tag-cashfree","tag-india","tag-lenders","tag-lending-ecosystem","tag-nbfcs","tag-payment-solutions","tag-suite"],"views":677,"jetpack_featured_media_url":"https:\/\/yourchennai.com\/wp-content\/uploads\/2020\/02\/Cashfree-Logo-Large.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/posts\/11762","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/comments?post=11762"}],"version-history":[{"count":1,"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/posts\/11762\/revisions"}],"predecessor-version":[{"id":11763,"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/posts\/11762\/revisions\/11763"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/media\/11124"}],"wp:attachment":[{"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/media?parent=11762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/categories?post=11762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yourchennai.com\/index.php\/wp-json\/wp\/v2\/tags?post=11762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}