Payments and API banking solutions company, Cashfree, has announced its partnership with Deskera, a Singapore-based global leader in cloud-based solutions for small and mid-sized businesses.
Deskera offers a cloud-based suite of integrated enterprise management applications that help automate everyday business tasks such as bookkeeping, stock management, payroll processing, workforce management and more.
With this partnership, more than 5 lakh businesses on the Deskera platform can choose from over 120 payment modes, including UPI, net banking, wallets and others, to process instant payment collections and reconciliation, using Cashfree’s Payments Links.
Through the partnership between Deskera and Cashfree, the entire invoice to payment process takes a fraction of the time previously taken, as it is automated. An invoice is created using Deskera and it is emailed to a customer with a payment link generated by Cashfree.
GST is applied automatically to the invoice amount. The partnership also allows reminder emails to be sent automatically by the system for any unpaid invoices along with the payment link from Cashfree. As soon as the payment is made by the customer, the payment details are automatically updated in Deskera.
Cashfree Co-founder Reeju Datta said, “We understand that collecting payments has never been easy for SMEs and the pandemic has made it difficult to make in-person follow-ups.”
Deskera VP Saurabh Srivastava said, “At Deskera, we are committed to not only providing business solutions to SMEs but also to help them understand how tech adoption can drive growth. Accounts receivable are an integral part of any business. Our partnership with Cashfree comes at a vital time when companies are looking for smart ways to improve cash flow and expand.”
Payments Link by Cashfree is the easiest way to receive payments from customers for any goods or services, without taking them to any app or website and integrating a payment gateway. Caters to all kinds of businesses looking to solve payment collection woes without a website.
Cashfree’s Payments Link product provides the following features:
- Notify customers across channels: Allows businesses to share the payments link with their customers via different channels like WhatsApp, SMS, email etc.
- Wide range of payment modes: Offers over 120 payment modes like UPI, Google Pay, Amazon pay, net banking, wallets, and others, enabling a smoother transaction experience.
- Reminders on auto-pilot: Merchants can set multiple automated reminders to get paid on time and maintain a healthy cash flow.
- Enable partial payments: Lets customers initiate partial payments in case of service fulfillment and get the remaining payment on completion of the service.
- Create payment links in bulk: This can be done by uploading a simple .csv or .xlsx file and helps save time and reduce errors.
- Easier reconciliation: Businesses can get real-time reports on the transactions processed through payment links and help manage the books better.
Cashfree is among the leading payment service providers in India and processes transactions worth $20 billion annually. With over 50% market share among payment processors, Cashfree today leads the way in bulk disbursals in India with Cashfree Payouts. In June 2021, India’s largest lender, SBI, invested in Cashfree, underscoring the company’s role in building a robust payments ecosystem.
The company 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. Currently, Cashfree’s products are used in India and eight other foreign countries like the USA, Canada, and the UAE, and by businesses like Logisy, Aramex, Zomato, Cred, Nykaa, Delhivery, among others.
