Cashfree Payments' AutoPay on QR helps subscription-based businesses to boost return on investment (ROI) on ad spends by enabling mandate creation in two clicks. Subscription-based businesses can seamlessly integrate their subscription QR codes into various marketing channels, including online ads, newspapers, websites, TV, and product packaging, enhancing the value derived from promotional campaigns.
Before this solution, to subscribe to an investment, content publishing, or OTT platform, customers needed to first download the app, set up an account, choose the plan, proceed with the payment service provider (PSP) app of choice, and then access the subscription, resulting in a poor and long onboarding experience.
Autopay on QR transforms the customer onboarding process into a swift two-step workflow, which includes scanning the QR code and approving an e-mandate via UPI apps within 30 seconds. This eliminates the necessity to download an app or register on the website and directly activates a unique subscription for each customer. AutoPay on QR is designed to turn one-time customers into paying subscribers, swiftly, seamlessly, and securely.
Officials from Cashfree Payments said they are excited to partner with National Payments Corporation of India (NPCI) and launch AutoPay on QR, which enables businesses to offer an elevated experience during the subscription activation process, while taking greater control of their business’ growth journey. This will help the merchants convert their users into lifetime customers by making it easier for users to pay.
With over 50% market share among payment processors, Cashfree Payments today innovates bulk disbursals in India with its Payouts and is also among the top online payment aggregators. One of India’s largest lenders, SBI, invested in Cashfree Payments, underscoring the company’s role in building a robust payments ecosystem.
Cashfree Payments also works closely with banks to build the core payments and banking infrastructure that powers its products. The company is also integrated with platforms such as Shopify, Wix, PayPal, Amazon Pay, Paytm, and Google Pay. Apart from India, Cashfree Payments products are used in eight other countries including the USA, Canada, and UAE.
Cashfree Payments is a payment and verification company, providing full-stack payment solutions to enable businesses in India to collect payments and make payouts via all available methods with simple integration. Other offerings include an augmented way to integrate payment gateways, a split payment solution for marketplaces, bank account verification API, lending disbursals solution and Auto Collect, a virtual account solution matching inbound payments to customers.
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