Cashfree Payments becomes ISO 27017 and ISO 27018 certified organization
Bengaluru, September 19, 2022: Cashfree Payments, India’s leading payments and API
banking solutions company, today announced that it has secured ISO 27017 and ISO 27018
certifications. ISO/IEC 27017:2015 certification confirms that the company has been found to
fulfill the Information Technology Security techniques and code of practice for Information
Security for cloud services standard. Further, ISO/IEC 27018:2019 certification signifies that
Cashfree Payments fulfills IT security techniques and code of practice for protection of
Personally Identifiable Information (PTI) in public cloud standard.
Also, the earlier achieved ISO/IEC 27001:2013 certification implies that the company has
implemented all the procedures and processes dictated by the Information Security
Management System (ISMS) policy. The three crucial certifications reinforces Cashfree
Payments’ compliance with all the requirements for establishing, implementing, maintaining
and continually improving an information security management system (ISMS), as well as
demonstrates its commitment to cloud security and data privacy.
The operations of Payment aggregators and payment solution providers are subject to
stringent Security and Privacy standards especially with respect to data management. For
Cashfree Payments, securing the ISO certifications demonstrates its commitment to ensure
the highest level of protection for concerned data processed on a secured cloud-based
technology.
Akash Sinha, CEO and Co-Founder, Cashfree Payments said, “We have witnessed rapid
growth in the Indian payments industry and our business progress has resonated well with it.
As a leading Payments solution provider, we have been heedful to ensure high standard
data and security measures are implemented, to protect customer interests. The addition of
ISO 27017 and 27018 certifications is a token to the trust bestowed upon us by varied
stakeholders. We will continue to be the advocates of the need for existence of an effective
regulatory environment. Our unfaltered prudence will be dedicated to ensure that our
efficient operations are supplemented by the highest possible security standards to keep
customer assets and data secure.”
With over 50% market share among payment processors, Cashfree Payments today leads
the way in bulk disbursals in India with its product Payouts. Recently, India’s largest lender,
SBI invested in Cashfree Payments underscoring the company’s role in building a robust
payments ecosystem. Cashfree Payments works closely with all leading banks to build the
core payments and banking infrastructure that powers the company’s products and is also
integrated with major 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.
About Cashfree Payments
Cashfree Payments is a leading payment and API banking solutions company. It provides full-stack
payments solutions enabling businesses in India to collect payments and make payouts via all
available methods with simple integration. Cashfree Payments’ offerings include an advanced and
easy way to integrate payment gateways, a split payment solution for marketplaces, bank account
verification API, and Auto Collect — a virtual account solution to match inbound payments to
customers. Founded by IIIT Hyderabad alumnus Akash Sinha and IIT Kharagpur graduate Reeju
Datta, http://www.cashfree.com is among the leading payment service providers in India processing
transactions worth USD 40 Billion annually. It has leveraged technology to lead payment disbursals in
India with more than 50% market share among payment processors. Cashfree Payments enables
more than 1,50,000 businesses with payment collections, vendor payouts, wage payouts, bulk
refunds, expense reimbursements, loyalty and rewards. Apart from India, Cashfree Payments
products are used in eight other countries including the USA, Canada, and UAE. Cashfree Payments
is backed by Silicon Valley investor Y Combinator, Apis Partners, State Bank of India (SBI), and was
incubated by PayPal.
Media contacts:
Swagata Gupta | swagata.gupta@cashfree.com | 9820088951
Sinoj Sadanandan | sinoj.sadanandan@cashfree.com | 9619375635
Niharika Saluja | niharika.saluja@adfactorspr.com | 8097341147