Payments company Cashfree Payments has announced that it now supports Apple Pay on international cards, intending to minimise drop-offs for Indian merchants selling in global markets.
Through this move, Cashfree Payments advances its commitment to assist Indian businesses in expanding their operations beyond borders and advancing their capabilities.
A 75% reduction in drop-offs for Indian businesses
As part of this initiative, Cashfree enables businesses utilising its international payment gateway (IPG) to provide Apple Pay as a checkout option to their international customers and tap into global markets, including the US, UK, Canada, UAE, and Europe. In addition to minimising payment complexity, the introduction is set to facilitate borderless ecommerce at scale, allowing merchants to convert global demand into revenue.
The rollout comes during a favourable time, considering that the festive season is quickly approaching. During this period, global demand for Indian cultural, artisanal, and heritage products significantly increases. When it comes to the diaspora and international buyers, it enables them to access Indian offerings more efficiently, while allowing merchants to benefit from this seasonal surge more successfully.
Furthermore, Cashfree’s Apple Pay integration focuses on equipping international buyers with a fast and secure checkout experience, mitigating the need for manual card entry and decreasing drop-off rates. According to Cashfree Payments, this is set to translate into fewer complexities and up to 75% reduction in drop-offs for Indian exporters selling in high-intent global markets, including the US, UAE, and EU. Also, including Apple Pay will allow Cashfree’s merchants to help global users by offering biometric authentication and tokenized card data. This enables only verified device owners to initiate the transaction while also facilitating an added layer of fraud prevention.
As of the announcement, the new capability is available to all merchants leveraging Cashfree’s IPG and works natively on iOS devices through Safari and in-app. Existing merchants can use Apple Pay instantly via their current checkout setups, as the support has been developed directly into the company’s IPG stack.
