Cashfree Payments enables DASH to manage the payments from 2,000+ small merchants in Tier-3 areas
BENGALURU, India, Sept. 8, 2022 /PRNewswire/ — Cashfree Payments, a leading payment and API banking solutions company, is enabling door-step payment collection for DASH, a tech-led go-to-market platform for brands in Tier-3 towns. DASH will be using Cashfree Payments’ point of sale solution, ‘softPOS’, to offer this service to more than 2,000 small merchants in Tier-3 areas.
softPOS is a point of sale (POS) solution which can convert an Android phone into a POS machine. Businesses can use the app to generate UPI QR codes, create payment links, and enable card payments via NFC-based Tap and Pay, and also record and manage cash collections. softPOS also offers payment methods such as wallets, EMI etc. through this solution.
DASH is a technology platform that makes the Tier-3 market more accessible for brands in the FMCG and food commodities segment via its network of digitally connected Demand Aggregators and Fulfillment Partners. It is currently helping more than 200 brands to penetrate the Tier-3 market further. DASH has on-boarded 2,000+ partners in 5 locations and delivers to their door-step within 24 hours of order. Once the order is delivered, the Fulfillment Partner collects the payment using Cashfree Payments’ softPOS.
Reeju Datta, Co-Founder, Cashfree Payments, said, “Our partnership with DASH illustrates the significance of our softPOS, a cost-friendly alternative to physical POS machines that lets businesses turn any Android phone into a POS device. softPOS has positively impacted DASH’s payments collections process, especially in Tier-3 areas where cash still constitutes a significant portion of the payments made. We’re proud to play a key role in DASH’s vision to make the semi-urban market more accessible for brands.”
Ajay Nain, Founder, DASH, said, “We have a unique operating model where we leverage the entrepreneurial spirit of locals and technology to overcome deep-rooted challenges of Sales & Supply for brands. We are growing at a growth rate of 32% CMGR and looking to touch 100 crore in ARR by the end of September, 2022. The growth requires similar scaling in payment collection and we are glad to partner with Cashfree Payments for the same.”
softPOS by Cashfree Payments helps businesses save on hardware costs and associate maintenance costs. softPOS with its simple and user-friendly interface, can easily be used by delivery partners, sales agents and field service professionals to conveniently handle customer payments wherever they are, right from their mobile phones.
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 the 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, 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 the UAE. Cashfree Payments is backed by Silicon Valley investor Y Combinator, Apis Partners, State Bank of India (SBI) and was incubated by PayPal.
About DASH:
DASH is a tech-led go-to-market channel that helps brands in the FMCG and food commodities segment via its network of digitally connected Demand Aggregators and Fulfilment Partners. It aggregates multiple sales channels such as small wholesalers, supermarkets, Kirana stores and eateries to leverage their collective demand. Besides its core commerce business, it also provides financing support to small wholesalers and retailers in collaboration with NBFCs and BNPL partners.
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