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2024 has been a milestone year for Cashfree Payments. We secured key licenses, launched multiple industry-first products that empowered our customers, partnered with leading businesses driving India’s growth, and set new industry standards.
From enabling merchants to onboard and transact in under 60 minutes to achieving a record 9-second checkout experience, this year has been about growing together and driving meaningful progress. We also onboarded over 1,00,000 customers this year. Our success has been fueled by a culture rooted in teamwork, continuous learning, and the ambition to redefine what’s possible.
Join us as we rewind and revisit the milestones and moments that defined our impact this year.
Enabling Seamless Payments Through Regulatory Milestones
In 2024, we strengthened our payment infrastructure by securing key regulatory licenses that improved our capabilities in delivering seamless, efficient, and innovative payment solutions.
- Payment Aggregator-Cross Border (PA-CB) License: As one of the first non-bank entities to receive this license, we now facilitate cross-border transactions for imports and exports, enhancing our international payment capabilities.
- Prepaid Payment Instrument (PPI) License: This license empowers us to issue prepaid instruments like cards and digital wallets, enabling seamless cashless transactions for businesses and consumers across India.
Pioneering New Paths in Payment Technology
We introduced a suite of products designed to streamline payment processes, bolster security, and simplify transactions for businesses and their customers.
- SecureID: Introduced at the prestigious Global Fintech Fest 2024, SecureID provides end-to-end identity verification and fraud prevention. With over 100 crore verifications and ₹50 crore in fraud prevented, it ensures robust risk management for businesses.
- Embedded Payments: We also came up with embedded payments, a solution that allows software platforms to embed payments directly within their applications, offering a seamless user experience without external redirection.
- RiskShield: To curb the growing scams in digital payments, we introduced RiskShield, a machine-learning-driven risk management tool that reduces fraud by enabling businesses to set transaction limits and detect fraudulent activities in real-time.
- UPI Switch: Certified by the National Payments Corporation of India (NPCI), UPI Switch allows direct bank integration, improving transaction success rates and processing up to 12,000 transactions per second.
Unveiling our Refreshed Brand identity—Move Fast
This year, we also unveiled our refreshed brand identity centered around the idea of “Move Fast,” a philosophy deeply rooted in our culture of excellence. Our brand refresh embodies a sharper, bolder, and more dynamic approach—one that promises speed, adaptability, and reliability.
As we roll out this new identity, we remain dedicated to helping our customers stay ahead, tackle challenges, and seize new opportunities seamlessly. With Cashfree Payments, businesses can adapt quickly, knowing they have a trusted partner ready for whatever the future holds.
Tech Bytes and Coffee: Fueling Growth Through Knowledge Sharing
At Cashfree Payments, we foster a culture where learning never stops and drives meaningful innovation, powering our journey forward. This year we introduced Tech Bytes and Coffee, our flagship internal knowledge-sharing series, connecting our engineering teams with industry leaders to foster learning, growth, and innovation.
- Designing for Accessibility: Rtn. Srinivasu Chakravarthula, Director of Product Accessibility at Freshworks, kicked off the series with a compelling session on the importance of accessible design. He emphasised how thoughtful, inclusive design improves user experiences for everyone, sparking meaningful discussions.
- Scaling Products from Scratch: In our second session, Natraj Choudhury, CTO of Zolve, shared insights in a dynamic fireside chat with Ishani Dhiman, our Senior Technical Program Manager at Cashfree Payments. The discussion brought to light important strategies for scaling products, the evolution of technology, and overcoming challenges.
- Innovating with Purpose: The final edition of 2024 featured Sandeep Kohli, co-founder of Divyam.AI, in conversation with our Associate Architect Mayank Juneja. Sandeep shared insights on how curiosity, adaptability, and customer feedback serve as keys to building resilient products. He also stressed the value of hands-on experience, continuous learning, and maintaining flexibility in an ever-evolving tech landscape
Strengthening Developer Community Presence
We expanded our connection with the developer community of Bangalore by hosting dynamic meetups that fostered collaboration, showcased our engineering talent, and sparked meaningful conversations.
Golang Meetup: Our engineers, Dev Vrat Pathak (SDE 1) and Suyash Katiyar (SDL), delivered sessions that highlighted the power of Go’s concurrent programming and functional constructs. Their insights demonstrated our technical depth and sparked engaging conversations with the Golang community.
Docker Meetup: When we hosted the Docker meetup in our Cashfree Payments HQ, Pragalathan M, Director of Engineering, discussed how Docker streamlines development and deployment for us. The event brought together close to 100 participants, reinforcing our reputation for building efficient, scalable solutions.
React Meetup: With close to 110 participants in this meetup, Nirali Jain (Frontend Engineer 2), Tanishk Tilekan (Frontend Engineer 1), and Gayathri Devi (Frontend Engineer 1) explored strategies for optimising React applications.
Ministry of Testing Meetup: In collaboration with Ministry of Testing, we hosted quality enthusiasts from across Bangalore for engaging sessions on the latest trends in quality assessment and testing. Shobhit Agarwal (Quality Assurance Lead) led a session on fostering a quality-centric culture. His insights highlighted our dedication to maintaining high standards and resonated with QA professionals eager to enhance their practices.
AI Meetup: Prasanth Narra (Senior Software Development Manager), Hardik Kumar (Data Scientist 2), and Aditya Sharma (Data Scientist 1) showcased how we apply AI and ML in fintech. It explored how we use genAI for smarter onboarding, CV, NLP for secure India-specific KYC, and ML for real-time fraud detection.
Through these meetups, we increased traction within the developer community, highlighted our engineering expertise, and reinforced our commitment to innovation and collaboration. We’re excited to continue engaging with the community and pushing the boundaries of fintech.
Innovating Together: Townhalls, Hackathons, and Offsite Adventures
SwitchOn 2024 Hackathon: Our flagship internal hackathon saw teams ideating and building prototypes over two days. It showcased the creativity, problem-solving, and collaborative spirit that define our engineering culture. More importantly, the winning idea was developed into a feature called Cashfree Reflect this year as well.
Engineering Townhalls: Our tech teams came together multiple times for open dialogues, knowledge sharing, and discussions on pushing the boundaries of fintech innovation. These sessions fostered transparency, alignment, and a collective drive to excel.
Work, Play, and Celebrate: Our Year of Engagement
While we achieved great milestones this year, we also made time to celebrate and connect as a team, strengthening our team spirit.
Through engaging activities, creative celebrations, and moments of fun, we fostered a culture of connection and collaboration. These experiences reminded us that our growth isn’t just about the work we do but also about the bonds we build along the way.
