Bangalore, 17 Aug 2022

Cashfree Payments partners with PharmEasy to facilitate convenient payment settlements to its retail partners

Bengaluru, August 18, 2022: Cashfree Payments, India’s leading payments and API banking
solutions company, has partnered with PharmEasy, one of India’s leading digital healthcare
platforms, to facilitate quick and convenient payment settlements to its retail partners. This
partnership will leverage Cashfree Payments’ Payouts solution to automate transactions for
the retail network.

Cashfree Payments’ Payouts solution allows merchants to instantly pay vendors, process
customer refunds, disburse loans, among other transactions. The solution is highly reliable,
delivering a 99.98% payouts success rate.


PharmEasy, in its capacity of a marketplace/intermediary, facilitates and enables (a) the sale
of pharmaceutical and healthcare products and services across various categories through its
third-party retail partners which are spread across the country; and (b) the payments for the
sale and purchase transactions which are undertaken between consumers and retail partners.
A customer can place an order on PharmEasy’s website or mobile app and can either pay
online or opt for COD (cash on delivery). Once the payment is made by the customer,
PharmEasy then compiles all the payments to be made to the retailer partners and disburses
them on a daily basis.


With Cashfree Payments’ ‘Payouts’ API integration, PharmEasy will now be able to automate
this process and facilitate settlement to retail partners within 48 hours of payments received
from customers, without any manual intervention. This process has reduced human
intervention significantly, in turn saving payment settlement time.


Through this partnership, Cashfree Payments has also helped PharmEasy in tracking and
processing bounced/failed payouts transactions. With Cashfree Payments’ ‘Payouts’,
PharmEasy has automated this process and is now able to reconcile bounced/failed
transactions within 24 hours and take action, leading to accurate payouts in time and an
enhanced partner satisfaction.


Reeju Datta, Co-Founder, Cashfree Payments said, “We are delighted to partner with
PharmEasy and extend our Payouts solution. Payouts helps PharmEasy to automate their
payment settlements to the retailers and vendor payouts reconciliation, thus creating a
superior transaction experience for the company’s partners. We look forward to helping the
company automate the entire payments process and contributing to its bid to make quality
healthcare accessible to the masses.”


Spokesperson from PharmEasy said, “The partnership with Cashfree Payments is a crucial
one, in our bid to use technology to enhance the reach of quality healthcare. Our processes
have now been greatly automated, thus improving customer experience as well as reducing
the time utilized in payment reconciliation and settlements. This has also boosted the
productivity of our team, as the time saved is used in other significant tasks. We aim to
automate the entire payments process in the time to come and the association with Cashfree
Payments will play a major role in the same.”


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.


About PharmEasy:
PharmEasy is a consumer healthcare super app that provides consumers with on-demand, home
delivered access to a wide range of prescription, OTC pharmaceutical, other consumer healthcare
products, comprehensive diagnostic test services, and teleconsultations thereby serving their
healthcare needs.


Media contacts:
Swagata Gupta | swagata.gupta@cashfree.com | 9820088951
Sinoj Sadanandan | sinoj.sadanandan@cashfree.com | 9619375635
Niharika Saluja | niharika.saluja@adfactorspr.com | 8097341147