News

Cashfree launches 'Instant Settlements' feature

Friday 24 January 2020 10:30 CET | News

Cashfree, an India-based business payments platform, has launched the ‘Instant Settlements’ feature for faster settlements and improved cash flow for businesses. 

The feature allows businesses to reduce the usual T+3 (Transaction date + Number of business days) settlement cycle and to access funds within 15 minutes of capturing the payment, even on bank holidays. The introduction of instant settlements removes the time gap between payments capture and fund accessibility, making it a lucrative offering for businesses.

Cashfree’s ‘Instant Settlements’ feature is in line with the RBI’s proposal to make 24x7 availability of NEFT infrastructure a reality. As part of the company’s expansion plan, Cashfree will soon extend the ‘Instant Settlement’ facility to its other collection products, including auto-collect and marketplace settlement. In 2019, Cashfree had pioneered ‘Instant Refunds’ in India and introduced ‘Same-day Settlements’ for businesses.

Instant Settlements will be available for all existing as well as new Cashfree payments gateway users, subject to evaluation of creditworthiness and other parameters.
More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Cashfree, instant settlements, Payments Gateway
Categories: Payments & Commerce | Payments General
Countries: India
This article is part of category

Payments & Commerce