Cashfree Payments is an Indian payments and API banking solutions company that has been offering full-stack payment processing services since 2015. The company provides simple and seamless collection, payout, and money transfer options using over 100 different payment methods and its own set of banking APIs.
Cashfree Payments was founded as a payment gateway by two young entrepreneurs: Akash Sinha, an alumnus of IIIT Hyderabad; and Reeju Datta, an alumnus of IIT Kharagpur.
Developed a specific Bulk Payout Solution for companies to distribute payments using its API Banking Platform.
Raised $53 million in a Series C funding round from Korean video game developer Krafton, which also developed PUBG and BGMI, at a valuation of $700 million to further expand its presence internationally.
Has received the RBI's Prepaid Payment Instruments (PPI) license for greater compliance and regulatory oversight.
End-to-end payment processing technology owned and operated by Cashfree with capacity for 12,000 transactions per second.
SecureID advanced identity verification stack with machine learning for fraud detection and KYC automation.
| Service | Cost | Details | Source |
|---|---|---|---|
| Domestic Cards/UPI/Netbanking | 1.95% per transaction | Standard rate for Visa, Mastercard, RuPay, UPI, 70+ net banking options. Promotional 1.6% for new merchants signing up Sep 18, 2025 - Mar 31, 2026 (12 months) | Official website |
| International Cards | 3.5% + ₹7 per transaction | Visa, Mastercard, American Express. Promotional 2.69% for new merchants (domestic promo does not apply to international) | Official website |
| Paylater & Cardless EMI | 2.5% per transaction | No upfront customer payment required | — |
| Annual Maintenance Contract (AMC) | ₹4,999/year | Zero setup fees. Required for premium support package with dedicated account manager, priority support (30 min response), faster dispute resolution | — |
| Bank Account Verification | ₹2.50 per validation | — | — |
| Payouts | Custom | Bank transfer and UPI payouts available | — |
| Enterprise/Custom Pricing | Custom quote | Volume-based discounts for high GMV merchants | — |
| Feature | Cashfree | Razorpay | PayU | Paystack |
|---|---|---|---|---|
| Payment Methods | 120+ (UPI, Cards, Wallets, NB, Intl) | 100+ methods | 100+ methods | Cards, Bank Transfer (Africa focus) |
| Starting TDR (Domestic) | 1.95% | 2.0% | 2.0% | 1.5% (Africa) |
| International Cards | 3.5% + ₹7 | 3.5% | 3.5% | 3.9% |
| UPI Support | Yes (1.95%) | Yes (2%) | Yes | Limited |
| Free Setup | Yes | Yes | Yes | Yes |
| Annual Maintenance | ₹4,999 (optional) | |||
| API Availability | Yes | Yes | Yes | Yes |
| Integrations | 300+ | 1,000+ | 500+ | 50+ |
| Enterprise SSO | Yes | Yes | Yes | Yes |
| Support Options | Priority (paid), 24/7 | 24/7 chat | Phone/Email | Email/Chat |
Both companies target the same segment of Indian SMBs eCommerce and offer 120+ different payment options to merchants and have developed developer friendly APIs. While both services are nearly identical, Cashfree does offer slightly lower domestic Transaction Decline Rate (TDR) than Razorpay (1.95% vs 2%), however, Cashfree charges an Annual Maintenance Charge (AMC) for Premium Support whereas Razorpay does not.
For cost-conscious high-volume merchants, CashFree is the preferred option for payments solutions. However for merchants who require an extensive range of integrations into their existing systems, RazorPay is the preferred option.
While both companies can provide similar pricing structures, PayU provides enterprise level support with global capabilities, while Cashfree provides support for India. Although both companies have strong support for wallets and UPI, PayU may be a better option for expanding into Latin American and European markets.
For merchants who have a business that is primarily based in India, CashFree is the preferred option for payments solutions. For merchants who are looking to expand their business into multiple countries, PayU is the preferred option.
PayStack has a strong hold in Africa while CashFree is the leading provider of payments solutions in India. The base rates that PayStack provides are less than those provided by CashFree however CashFree has greater support for UPI/Wallet. The geographic specialization in each company has defined their positioning.
CashFree is the preferred option for merchants located in India. PayStack is the preferred option for merchants located in Nigeria and Africa.
PhonePe’s ability to leverage its UPI dominance and provide low/no fee UPI transactions are both a benefit to the merchant however it lacks the full range of services as provided by CashFree. In addition, CashFree is able to provide the full payment stack versus PhonePe’s UPI focused platform.
CashFree is the preferred option for merchants requiring a full-stack payment gateway (PG). PhonePe is the preferred option for merchants who are optimizing their payment solution for UPI transactions only.
Cashfree has 180+ payment methods accepted including UPI, Cards, Net Banking, Wallets, EMI, Pay Later Options, International Payments in 30+ Currencies. All Major Payment Methods from both India and Global Payment Methods are supported for universal acceptance.
Unlike most of the industry that provides refunds in 5-7 Working Days, Cashfree’s instant refund option will allow merchants to delight their customers and resolve any disputes in real time allowing for smoother merchant operations.
Yes, Cashfree is completely PCI DSS Compliant with added security features such as a Secure Vault for Saved Cards, Real Time Fraud Monitoring and a Robust Risk Management System built on the Expertise of PayPal.
Immediate Activation will allow merchants to go Live in Minutes. Merchant can also create no-code payment links and plug-n-play plugins for the top e-commerce platforms to start accepting payments immediately.
Cashfree uses Direct Integrations with all Major Card Networks and Banks, Dynamic Routing, and AI driven Smart Routing which eliminates unnecessary third party routing and greatly reduces failed transactions.
Yes, Cross Border Payments are available to merchants through Cashfree in 140+ currencies and accepts 30+ currencies for payment. Merchants can accept payments from anywhere in the world while still meeting local regulatory requirements.
Cashfree’s Payouts API is used for 24x7 Instant Transfers to Bank Accounts, UPI IDs, Cards, or Wallets. Ideal for Vendor Payments, Salary Disbursements, Bulk Refunds and other types of transactions requiring seamless transfers without uploading large files.
Enterprise Level Support 24x7 Multilingual via Email, Phone, and Chat for all merchants. All merchants receive Priority Support regardless of the Size of Plan they have.
Cashfree Payments provides enterprise-grade payment infrastructure tailored to the Indian marketplace, but also includes global capabilities. Success rates of industry-leading levels, rapid refunding, and wide-ranging payment method options make it a solid option for large volume merchant sites. Cashfree’s direct banking connections and AI-based routing will give measurable benefits when compared to legacy payment gateway solutions.
Cashfree Offers Reliable, High-Success-Rate Payments with Bulk Payout Capabilities and Enterprise Features for India-Focused Business Sites.
Cashfree Payments provides an enterprise-grade payment gateway with 180+ payment options, instant refunds, direct banking connections, and AI-based dynamic routing for maximizing success rates. A comprehensive API platform supports payments, payouts, recurring billing, and international transactions, while offering PCI DSS compliant and 24x7 support. Its focus on the Indian marketplace, along with global capabilities, makes it a top-tier solution for high-volume merchants.
Excellent - comprehensive information from official website, developer documentation, and review platforms. Technical capabilities well-documented with specific feature details available.
Cash free uses its own in house Card and UPI Switches which utilize direct bank connections to provide the highest success rate in the industry. AI Driven Dynamic Routing and Intelligent Fail-Over dramatically reduces transaction failure rates when compared to Third Party Routed Payments.
Can load customizable checkouts in under 200ms allowing customers to complete payments in under 10 seconds. One Click Checkouts with Instant OTP Verification and Smart Address Pre-Filling increases conversion rates.
No Coding Required to Start Collecting Payments Using Payment Links and Forms, businesses can be live in under 5 Minutes accepting UPI, Cards, Net Banking, BNPL, etc.
The Payouts platform from Cashfree is a bulk disbursement service that can be used 24x7 to send money into bank accounts, UPI ID, Cards and Wallets, which makes it possible for all types of business models to make instant payments to vendors and employees.
The Cashfree Payment Gateway is PCI-DSS Level 1 Compliant and has a Secure Vault for stored credit/debit cards; Real-Time Fraud Monitoring and Risk Management System built on PayPal; thereby allowing merchants to pass their PCI Compliance Burden and still maintain the highest level of Security Standards.
AI / ML - Powered FlowWise Smart Routing allows for the best possible payment gateway to be selected for each transaction to ensure the greatest success rate and up to 20% additional revenue generation.
Provides access to over 180 different payment options, such as UPI, Debit/Credit Cards, EMI, PayLater, Net Banking etc., to reduce checkout friction and cart abandonment.
Loads in under 200 milliseconds with optimized card and UPI flows, allowing users to make a payment in 10 seconds or less.
One Click Checkouts with Instant OTP Verification and Smart Address Pre-Fill enable users to have a seamless checkout experience.
Provides access to Payments Intelligence, which includes detailed analytics, reporting and reconciliation capabilities to provide users with the ability to gain insights on how to optimize their checkout processes.
Enables Real-Time Fraud Monitoring and Dedicated Fraud Management Tools throughout the entire payment lifecycle.
Includes in-house Card and UPI Switches with Intelligent Fail-Overs and Backup Payment Methods to minimize downtime and increase acceptance rates.
Uses Secure Tokenization through PCI-DSS Compliant Infrastructure to securely manage user’s payment credentials.
Offers Optimized Checkouts using 180+ different payment methods, in <200 millisecond loading time, and utilizing Smart Routing to reduce cart abandonment rates by up to 20%.
Automates Payment Lifecycle Management across Web, Mobile, and Offline Channels with Reconciliation Capabilities.
Has the capability to accept International Payment Methods while adhering to Local Compliance Requirements.
Enables Businesses to instantly pay Vendors, Employees and Refunds through a Single API using the Payouts Platform.
Offers No-Cost EMIs, PayLater Options and Abandoned Cart Recovery via Automated Reminders.
Offers Mobile Optimize Flows with UPI, Wallets and One Click Checkouts to allow Users to Make Payments in 10 Seconds or Less
Payouts programmatically sent to bank accounts, UPI Ids, cards, and digital wallets along with automated reconcilement
Acceptance of payments from anywhere in the world with FlowWise orchestration for optimal currency conversions.
| Payment Category | Example Providers/Methods | Optimization Benefit | Criticality |
|---|---|---|---|
| Unified Payments Interface | UPI, in-house UPI switch | Optimized flows with 10-second payments, highest India volume driver | Essential |
| Card Networks | Visa, Mastercard, RuPay | In-house card switch, intelligent routing, EMI options | Essential |
| Digital Wallets | Paytm, PhonePe, Amazon Pay, Mobikwik | One-click payments, reduced checkout friction | Essential |
| Bank Transfers | Net Banking, direct bank integrations | Wide coverage across major Indian banks | Important |
| Buy Now Pay Later | No-cost EMIs, Pay Later schemes | Abandonment recovery, revenue uplift | Important |
| Regional Methods | India-focused payment methods | Localized compliance and acceptance optimization | Important |
| Acquiring Networks | Direct processor connections | AI-driven dynamic routing for maximum acceptance | Essential |
Payments Intelligence monitors acceptance rates, conversion rates, and failure rates across all 180+ payment methods.
Payment analytics provide detailed information about where you can optimize your payments including processors, methods, and geographic regions.
The FlowWise no-code platform allows you to test your routing rules and payment configuration settings.
Real-time monitoring and capacity planning tools manage surges in traffic (up to 6,000 transactions per second).
Ongoing validation is provided by Payments Intelligence and API Gateway Observability.
Smart routing analytics compares the rate at which you are accepted among different payment service providers.
Automated reconciliation and audit logs are part of our fraud management tools.
The optimization impact on your revenue is quantified by reporting an average 20% revenue increase.
