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Business Economy


Cashgram to make e-commerce refunds fast, simple

Bangalore, Sep 12 (UNI) Bangalore-based payments technology company Cashfree launches Cashgram, a smart payout system for one time payments, like Cash on Delivery refunds in ecommerce.
"Cashgram is an extension of Cashfree’s Payout system that enables businesses to send money to their user and vendors. Using Cashgram, companies can send a web link to their users requesting bank account information. On receiving the information, a one click refund can be processed instantly," said company's Co-Founder and CEO Akash Sinha.
Currently, e-commerce companies do this manually over multiple emails between customer, finance team and customer support team, very often leading to errors and delays. Cashgram also gives the users the option of sharing their UPI IDs or PayTM, instead of their bank account.
"The product is live with popular e-commerce companies like Nykaa, Rentomojo, and Club Factory as initial customers. The payouts product is already doing about 50,000 transactions everyday," it was stated.
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