Namah Chawla

Cashfree Payments’ new ad campaign is aimed at founders and budding entrepreneurs

The digital payments platform is integrated into the payment flows of companies like Cred, Dream11, ACKO, Xiaomi and Nykaa.

While researching about Cashfree Payments in 2015, its co-founders Reeju Datta and Akash Sinha came up with the idea of digitising cash on delivery payments in India. This would solve problems incurred during hyperlocal cash-based payments.

Datta and Sinha found out that the solutions available at that time, were not enough to keep up with the evolving use cases. Most systems back then had one-dimensional flow and weren’t tailored for the Internet economy.

This is when they kick-started their operations with a five-member team, launching Payment Gateway in April 2016 and Payouts in February 2017.

A single platform to manage end-to-end payments seemed interesting to many new online businesses and, so, Cashfree Payments was introduced. Since then, it has grown into a full-stack payments technology company, enabling online bulk collections and disbursals in real-time. Cashfree Payments has so far launched 16 products, out of which six are industry-first.

Cashfree Payments’ latest campaign, titled ‘Yeh Mera Idea’, speaks to the Indian startup ecosystem and aims to encourage budding entrepreneurs to execute their long-cherished business ideas. The campaign is based on the importance of payments in a startup’s growth journey.

As per the brand, one lakh-plus businesses use the platform for their payment collections, vendor payouts, wage payouts, bulk refunds, expense reimbursements, loyalty, and rewards.

The brand claims to be the leader in payment disbursals, with over 50 per cent market share (peak processing of over 60,000 payouts per minute). Its product, ‘Payouts for bulk disbursement’, is being used by nearly 5,000 businesses to process vendor payments and refunds, pay wages, disburse loans, reimburse expenses, and more.

The digital platform is integrated into the payment flows of some leading Internet businesses, like Cred, Dream11, ACKO, Xiaomi and Nykaa. Apart from India, Cashfree Payments’ products are used in eight other countries, including the US, Canada, and the UAE.

<div class="paragraphs"><p><strong>Reeju Datta, Cashfree Payments</strong></p></div>

Reeju Datta, Cashfree Payments

Commenting on the latest campaign, Datta says that many times, a business idea is born in one’s head, which one wishes to convert into reality.

“We look at a prospering business and think to ourselves, ‘I had the same idea, I should have pursued it.’ With ‘Yeh Mera Idea Tha’, we intend to convey that just as a business succeeds with a strong idea and plan, it can prosper and scale higher with solid payment solutions.”

The campaign targets founders and CEOs, other than budding entrepreneurs, and aims to achieve top-of-mind recall among the target group.

Designed by Cog Culture, the video films feature ‘The Viral Fever’ (‘TVF’) actors Naveen Kasturia and Badri Chavan. It is a 360-degree campaign that has used TVCs, social media, webinars as a part of its media mix.

As an extension of the campaign, Cashfree Payments has also announced ‘Yeh Mera Idea Tha’ contest for the startup community. The winning idea will win up to Rs 50 lakh worth of free credits. It is also the payments partner of Sony TV’s reality show, ‘Shark Tank India’.

According to Datta, the ever-evolving needs of customers as well as businesses across industries, have given rise to many challenges.

“There is an increasing number of digital transactions happening across the globe, and especially in India. The major challenge for us is to provide products that are relevant to market needs and also ensure seamless integration at multiple levels.”

As per Datta, these challenges have only encouraged his company to work towards devising effective solutions, and establish a favourable and secure environment for surging transaction numbers. The platform’s efforts are also aimed at promoting financial inclusion as far as the underserved and underbanked segments go.

“Policies like offline payments and unified payments interface (UPI) on feature phones will further assist in boosting the growth in sectors such as insurance, edtech, etc. Cashfree Payments, with its innovative approach and strategic execution of the quality processes through its systems, will play a progressive role in the fintech space,” he concludes.

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