Bangalore, 18 Jan 2022

Cashfree Payments joins hands with Furlenco to delight its customers with convenient and instant Payouts

Bengaluru, January 18, 2022: Cashfree Payments, India’s leading payments and API banking
solutions company, is assisting the subscription-based furniture rental company Furlenco, in
creating a fastest security deposit refund experience for its customers, through its Payouts link
solution ‘Cashgram’.


The furniture rental company collects security deposits at the start of the subscription plan. Once
the subscription ends, Furlenco teams pick up the furniture from the customer site and the security
deposit is credited back to the customer’s preferred account using a Cashgram link.
As soon as the Furlenco system identifies that the return is completed, the system auto-generates
a Cashgram link using Cashfree Payments’ Cashgram API with the registered phone number or
email id of the customer and refund amount. The customer receives the link over
Whatsapp/SMS/email and can open the link, enter preferred bank account details or UPI ID or
other wallet details where the customer would like to receive the refund money. This helps
customers get the refund credited without having to share their sensitive bank account details.
This payout system takes care of all the backend activities and automates the refund process for
the business. The end customers can also claim refunds instantly even during bank holidays and
weekends.


Founded in 2012, Furlenco provides furniture and home decor on rent along with relocation
services. Prior to integrating Cashgram, Furlenco’s payout process was majorly manual and
highly procedural in nature, which made it tedious, time-consuming and prone to errors and
delays. The Cashfree Payments – Furlenco partnership is of high significance as the collections
and refund process is an essential part of the rental business.


Reeju Datta, Co-Founder, Cashfree Payments said, “We are delighted to extend our payout
services Cashgram to Furlenco and its users. Cashfree Payments has always strived to undertake
innovative approaches to address industry problems. Through Cashgram, we have been helping
Furlenco in making the entire process of Payouts simple, stable and seamless. We will continue
our efforts of providing consumer-centric products, which will generate greater functional
efficiency and convenience for businesses and customers alike.”


Varun Krishnakumar, Director of Products, Furlenco said, “We are happy to partner with
Cashfree Payments for Payouts so as to serve our customers with a seamless experience. Prior
to this partnership, our refund process was tedious, prone to errors and time consuming owing to
system-induced delays. The partnership with Cashfree Payments has allowed us to render fast,
secure and user-friendly settlements, thereby enhancing the overall customer journey. Also, from
the automation and scalable point, Cashgram has been phenomenal. The time saved, in turn, has
allowed us to interact more with the customers in devising more effective and innovative
procedures, thus creating a better value proposition.”

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 20 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 1,00,000 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 I swagata.gupta@cashfree.com | 9820088951
Sinoj Sadanandan | sinoj.sadanandan@cashfree.com | 9619375635
Niharika Saluja | niharika.saluja@adfactorspr.com | 8097341147