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Homegrown payments and banking technology company, Cashfree on Tuesday announced its partnership with PayPal to enable international payments for merchants.
Businesses using Cashfree’s payment gateway will be able to add the PayPal Express Checkout option to their order pages and accept payments from users across 200 markets.
With this integration, businesses can show the prices of all products in over 28 currencies. Customers with a PayPal account will be able to use the PayPal Express Checkout button and pay in their preferred currency.
Cashfree will do the foreign currency exchange automatically and the amount will get credited to businesses’ accounts in Indian rupees.
Businesses partnering with Cashfree can also activate One Touch payments to enable customers to stay logged in and check out with a couple of clicks.
Akash Sinha, CEO & Co-founder of Cashfree said, ”Our new integration plans on helping our partner businesses tap into this world market opportunity. The new API integration allows merchants to enable payments using their existing PayPal business accounts and start accepting and collecting global payments in no time. Further, businesses benefit from the PayPal fraud prevention and seller protection tools. Through this partnership, new merchants will be seamlessly onboarded, and customers will have an improved payments experience of using PayPal through Cashfree.”
“MSMEs today form the backbone of the economy and are working relentlessly to fight the pandemic. Cross-border trade gives these businesses access to a global consumer base and will help them recover faster. Together with Cashfree, Indian small businesses will be able to tap into our 350 plus million consumer base across 200 markets,” Ashish Tandon, Director, Channel Partners, PayPal India, said.
Cashfree, as a payment platform, offers businesses with international payment methods such as Mastercard and Visa cards, American Express and Diners Club along with PayPal. It currently supports over 100 payment modes for accepting domestic and international payments, it said.
“First forged in 2015, this partnership with PayPal along with the recent launch of Cashfree’s Global Payouts solution for instant cross border payments will further strengthen the digital payments ecosystem,” it said.
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