Bangalore, 20 Dec 2022

Cashfree Payments now offers India’s widest ‘Buy Now Pay Later’ suite

● Online businesses can offer customers over 30 flexible financing options during checkout
with Cashfree Payments’ BNPL suite


Bengaluru, December 20, 2022: Leading payments and API banking solutions company,
Cashfree Payments is now offering India’s widest ‘Buy Now Pay Later’ (BNPL) suite. Cashfree
Payments’ BNPL suite will enable online businesses to provide customers with over 30 flexible
financing options during checkout. The company has launched its BNPL suite in time for the
upcoming holiday season to help online businesses offer their customers easy and instant access
to credit, thereby increasing sales.


Cashfree Payments’ financing options include leading brands such as ZestMoney, Homecredit
and KreditBee for Cardless EMI; Simpl, LazyPay and Freecharge for Pay Later mode and more
than 16 banks for card based EMIs. Currently more than 20,000 online businesses use Cashfree
Payments’ BNPL suite. Businesses using the offering have seen a growth of upto 30% in sales.
Leading online companies using Cashfree Payments’ BNPL suite include EaseMyTrip, Wakefit,
Byjus, among others.


Akash Sinha, CEO & Co-Founder, Cashfree Payments said, “India’s buy now pay later market
is growing rapidly with more and more customers looking for flexible payment options when they
shop online. At Cashfree Payments, we want to empower our merchants with the most
comprehensive BNPL suite and help them unlock significant value from this shift in consumer
preference. We’ve seen upto 30% increase in conversion rate and 40% higher average order
value among businesses who offer BNPL modes on their checkout.”


Online businesses using Cashfree Payments’ Payment Gateway can activate BNPL modes on
their website or app checkout page without any additional integration effort. Online businesses
can also set up No Cost EMI offers on specific banks and payment partners right from the
Cashfree Payments’ dashboard to attract first-time customers.


In India, BNPL is currently worth USD 3-3.5 billion and is expected to exceed USD 50 billion by
FY 2026 to become the world’s second largest BNPL market. Buy Now Pay Later as a checkout
option makes high ticket, premium items more affordable to customers. With the availability of
instant credit and flexible repayment options, products right from consumer durables to travel
tickets and online learning are now accessible to digital-first customers both in urban and rural
markets.


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