Payouts Change Log

June 2024

New Feature: Escrow VA Management: We have introduced a new feature called Escrow VA Management for our escrow merchants. This feature allows them to manage virtual accounts effortlessly, including creating virtual accounts, collecting funds, initiating payouts, internal transfers, and managing virtual account ledgers. Merchants can use this feature via APIs and through the dashboard.
Transfer Enhancement: We have introduced a feature to prevent failed payouts due to insufficient balance in your Cashfree Wallet or connected fund sources. Transfers are held in a queue and processed once sufficient funds are added.
API Enhancement: The VPA is now included in the check status API response, reports, and the dashboard for phone number-based transactions, aiding in reconciling payouts efficiently.

May 2024

Developer Experience Enhancements: Integration testing for AmazonPay Wallets is now mocked at Cashfree Payments’ end, reducing dependency on Amazon Pay’s servers during UAT.
Dashboard Enhancements: Payouts to phone numbers can now be processed directly from the merchant dashboard by adding phone number details to the beneficiary information.
Dashboard Enhancements: Merchants can customise the Name Match threshold for payouts to phone numbers. Payouts are processed instantly if the beneficiary’s name matches the set threshold.
New Feature: Payouts Partnership Model: Merchants can expand offerings by onboarding clients as sub-merchants and processing payouts initiated by them via Cashfree Payments’ APIs.

April 2024

Transfer Enhancements: The Low Balance Transfer feature allows transfers to remain in a Pending status if the Cashfree Wallet balance is insufficient. Merchants can configure the maximum queuing time before transfers fail.
Performance Enhancements: Automated emails are sent to banks’ points of contact to prioritise clearing pending transfers beyond T+3 days.

March 2024

Transfer APIs Enhancements: Transfer APIs now accept uppercase letters for payment modes such as RTGS, NEFT, and IMPS for better flexibility.
Improved Reports: A new Beneficiary Report type allows merchants to customise columns and check beneficiary statuses or payment instrument details.
Dashboard Enhancements: Merchants can view enabled payment modes and their configured rates in the dashboard.
Batch Transfer Enhancements: Improved approval flow for batch transfers. The status displays as ‘Processing’ when all transfers are approved, and ‘Partially Approved’ when only some are approved.
CardPay API Enhancements: Following card network guidelines, the senderName parameter is mandatory for credit card bill payments of ₹50,000 or more.
Developer Experience Enhancements: A new SDK for Node has been generated to integrate Payouts API V2.
New Feature Update: A ‘Revalidation’ tab helps merchants check payout readiness by listing invalid beneficiaries, supporting bulk selection, validation, and KYC status updates.

February 2024

Fund Source Enhancements: Merchants can re-add the same bank account as a fund source, and multiple account IDs can share the same bank account.
Dashboard Enhancements: Merchants can filter beneficiaries by status under the Beneficiaries tab.
Test API Enhancements: Passwords are no longer required for testing Payouts APIs in the sandbox environment.
API Enhancements: Merchants can create a beneficiary with Amazon Pay Wallet information and initiate payouts to Amazon Pay Wallets using Payouts V2 APIs.
Dashboard Enhancements: Sample files for adding Amazon Wallet as a transfer mode are now available for batch uploads of beneficiaries or transfers.
Improved Reports: A new report type for pending transfers includes SLA and due date details, helping merchants track and manage pending transfers effectively.

January 2024

Developer Experience Enhancements: A new status flag indicates whether the account has API key enabled, along with guidance for contacting support for queries.
Developer Experience Enhancements: Error messages for incorrect API key usage now include details to debug faster, such as environment mismatches.
API Enhancements: Improved error responses for IP mismatches, showing the originating IP and a link to whitelist it.
New Feature Update: Merchants can initiate payouts using only the phone number of the beneficiary and test this feature via the dashboard without integration.
Fund Source Enhancements: Adding new bank accounts as fund sources is now self-serve for connected accounts.
Developer Experience Enhancements: A new guide, Getting Started with Payouts APIs, simplifies the integration process for new merchants.
Dashboard Experience Enhancements: Clarifications about IP whitelisting and public key generation are displayed in the dashboard.
Security Enhancements: Public certification rotations with partner banks enhance security measures.

June 2023

Transfer Enhancements: Automated emails are sent to banks for transfers pending beyond 3 days after the transaction.
Dashboard Enhancements: Downtime schedules and unscheduled incidents for connected fund sources are visible in the dashboard.
API Enhancements: Internal Transfer v1.2 API enables fund transfers between multiple fund sources.
Global Payouts Support: APIs now support global payouts from 100+ countries to India using OPGSP and RDA rails.

May 2023

Beneficiary Verification Update: PAN, GST, bank account, CIN, and DIN verification is now required for Corporate Credit Card, OPGSP, and RDA transfer requests.
Dashboard Enhancements: Merchants can view unscheduled incidents for connected fund sources in the dashboard.

April 2023

Roles Enhancements: Merchants can assign aliases to Approver and Initiator roles for direct and batch transfers, ensuring accountability.
Service Charge Deductions: Service charges for bank transfers are automatically debited daily or weekly based on merchant preferences.
Alias Account Enhancements: Aliases can now access Reports, Fund Sources, and Accounts pages.

March 2023

Dashboard Enhancements: UNO Wallet is now available as a fund source in the dashboard, associating each wallet with a single bank account for transfers and recharges. Cashfree Payments’ Co-Lending program enables partnerships with NBFCs to expand borrower pools.
Enhanced Get Balance API: Merchants can view account balances through the Get Balance API.