Episode 210 / March 27, 2023

Decoding India’s Digital Payment Ecosystem | Cashfree Payments

45 min

Episode 210 / March 27, 2023

Decoding India’s Digital Payment Ecosystem | Cashfree Payments

45 min
Listen on

A report by Deloitte and Wipro estimated that the value of B2B digital payments in India will reach $700 billion by 2025, growing at a CAGR of 30% from 2020.

The B2B digital payment ecosystem in India has been growing rapidly, driven by factors such as:

# Government initiatives to promote digital payments

# Increasing adoption of mobile devices and internet connectivity

# Growing awareness of the benefits of digital payments among businesses and more.

In this episode we have with us Akash Sinha, Co-founder & CEO, Cashfree Payments, talking about the B2B Digital payments ecosystem in India. Cashfree Payments has processed over 200 million transactions as of 2021, with a total transaction value of over $12 billion.

It serves over 3,00,000 businesses, ranging from small startups to large enterprises, across various industries such as e-commerce, travel, hospitality, and fintech such as Dream11, Zomato, Dunzo, CRED, Acko, and Nykaa amongst others. Cashfree Payments offers various payment solutions, such as payment gateway, payouts, auto-collect, recurring payments, and marketplace settlements. They have also launched new products like Cashgram and Cashfree AI to improve the user experience and prevent fraud.

Let’s deep dive into the episode where Akash has their initial journey with heavy competition in the market, complying with RBI regulations as a payment solution provider, and much more.

Notes –

00:00 – Highlights of the conversation

02:07 – Intro to Akash Sinha, Cashfree payments and Payment ecosystem in India

03:09 – Journey so far & Indian payment’s landscape

06:37 – Mapping the payment landscape’s online segment

10:05 – Cashfree’s share in B2B payments in India

11:06 – Strengths of Razorpay & Cashfree Payments

13:59 – Larger customers such as – Meesho, Swiggy, Zepto, and CRED among others

14:50 – SME signups and payments insights across India

16:59 – Scaling with a Platform approach

18:14 – Being part of YC early-on

20:22 – Strengths as a CEO & Founder

24:57 – Y-o-Y growth at Cashfree Payments

26:01 – Plans for IPO

26:31 – Emotional Journey of a founder in the last 8 years

27:53 – Steering clear in a competitive market back in 2015

32:05 – Building multiple products to solve multiple problems

34:44 – India’s growing Digital infrastructure

38:03 – Advice for entrepreneurs to choose tough markets with large tailwinds

39:56 – Coming from a Non-fintech background

42:32 – How fast is the Digital payments market growing?

43:35 – How tough is it to be compliant with RBI regulatory changes?


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