Cashfree Payments enables eUPP to provide educational institutions with instant and secure payments for parents and students
Bengaluru, December 14, 2022: Cashfree Payments, India’s leading payments and API banking
solutions company, is enabling eUPP (eLite Unified Payment Platform), a fee payment
management system for schools and colleges, to offer an instant and secure fee payments
experience for end users. Currently, through this partnership, more than 500 educational
institutions across the country are leveraging Cashfree Payments’ payment collections suite for
their payment needs.
eUPP is an online fee payment management system for schools, colleges, universities and other
educational institutions. It brings all educational expenses on a single platform and provides
maximum benefits to families, students and parents from their expenditures towards education
related activities. eUPP is owned by Connexrm Pte Ltd, a Singapore Headquartered company
and has a portfolio of products under its umbrella to help an institution cover the entire paradigm
of their requirements.
Following this partnership, the 500 educational institutions on eUPP’s platform can now
seamlessly track their payments collections directly via the eUPP application. Further, they will
be able to use Cashfree’s payments suite to manage their payments flow directly from the eUPP
mobile app. This has helped eUPP boost their transaction success rates, and has enabled their
customers to improve their service quality by offering greater transparency and functionality
around payments on their existing platform and end customer touchpoints.
Cashfree Payments’ robust and reliable payments infrastructure processes 20 million API
requests every day, with 99.99% average system uptime. This payments platform is capable of
offering higher success rates, owing to its direct integrations with banks, card networks and third
party payment players along with in-house dynamic routing algorithms.
Reeju Datta, Co-Founder, Cashfree Payments said, “Digitalisation has gained an essential
impetus in the recent past, which has also extended to the education sector. As a part of this
partnership, we provided eUPP with a powerful and scalable payments infrastructure which cuts
down its payment processing time and delivers a better experience to their customers.”
Sumit Shukla, Founder and CEO, Connexrm PTE and Sr. Vice President, Apar
Technologies said, “eUPP is a platform that has worked with multiple payment gateways, but
we’ve always found that the best services have been made available to us through Cashfree
Payments which has helped in growing our customer confidence. Instant transaction confirmation
with a near zero rate of failure is what our platform has experienced so far, while lowering our
costs by 30%. This, for us, makes Cashfree Payments the primary choice for all the transactions
on eUPP.
I am confident that our growing partnership in offering a combined package of technology,
administrative services, payment services, lending services, eUPP universe services would
provide schools and other educational institutions an unparalleled experience and would help
them with technology adoption and effective financial management.”
Cashfree Payments is one of India’s leading providers of payment solutions to enterprising
businesses, and has received an in-principle approval from the RBI for a Payment Aggregator
license. 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.
About eUPP
eUPP (https://www.eupp.in) is an Education Vertical Oriented Payment Platform owned by Connexrm Pte
Ltd, a Singapore Headquartered company, that has been managing various products in the education
sector for more than 5 years and has a portfolio of products under its umbrella to help an institution cover
the entire paradigm of their requirements. Connexrm products are managed by Apar Technologies in India
as the primary investor and Mr Sumit Shukla, Founder & Global CEO of the company who has been
instrumental in designing and innovating the product to be launched in the market. The markets covered
by Connexrm in this short span of time include India, Vietnam, Dubai, Singapore and Malaysia with
aggressive targeting of the US and European markets in the current and next year in plans.
Media contacts:
Swagata Gupta | swagata.gupta@cashfree.com | 9820088951
Sinoj Sadanandan | sinoj.sadanandan@cashfree.com | 9619375635
Niharika Saluja | niharika.saluja@adfactorspr.com | 8097341147