BENGALURU, India, Nov. 8, 2022: Cashfree Payments, India’s leading payments and API banking solutions company, is enabling Zepto, the nation’s fastest growing e-grocery company, to offer a secure and fast checkout experience to its customers using Cashfree Payments’ Payment Gateway.
Zepto, the 10-minute grocery delivery service, ensures quick and seamless deliveries of over 3000 products, ranging from fresh vegetables and fruits to daily necessities, across 10 major cities in India – Mumbai, Bengaluru, Chennai, Delhi, Ghaziabad, Kolkata, Noida, Pune, Hyderabad, and Gurgaon. Zepto is able to consistently deliver on-time through a combination of technological and operational excellence.
Cashfree Payments’ Payment Gateway API has been integrated in Zepto’s mobile app to enable a faster checkout experience for customers. Customers can select any preferred mode of payments such as UPI, debit card, credit card, net-banking etc. supported by Cashfree Payments. Zepto uses the UPI intent flow offered by Cashfree Payments’ Payment Gateway – an integration type that automatically shows all the UPI apps, like PhonePe, Paytm, Google Pay etc. already installed on the customer’s mobile phone. Customers can choose the UPI app of their preference, the amount gets auto filled and customers can make the payment by entering the UPI PIN and completing the payment. The UPI intent flow greatly enhances the speed of UPI transactions as well as the success rates and is the most secure and reliable way of offering UPI payments for businesses.
Cashfree Payments supports Zepto’s mission of delivering groceries within 10 minutes by providing faster checkouts and industry-leading success rates. Cashfree Payments also provides 24*7 tech support which helps the hyperlocal company remain customer-first. Moreover, Zepto is also delighting customers with fastest refunds to the linked bank account of customers, in case of UPI payments using Payouts, the API banking solution by Cashfree Payments.
Reeju Datta, Co-Founder, Cashfree Payments said, “As a payment platform our focus is on providing the best checkout experience to customers and the highest transaction success rates for our partner businesses at affordable pricing. It gives us immense pleasure that our effective solutions are enabling efficient payment experiences for millions of Zepto customers and are contributing to the growth journey of distinctive businesses like Zepto.”
Amritansu Nanda, Chief Marketing Officer at Zepto, said, “As a service that prioritises convenience, our association with Cashfree Payments enables a seamless payment experience. With digital payments becoming ubiquitous, Zepto will continue to make this experience on the app safe and smooth.”
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 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 UAE. Cashfree Payments is backed by Silicon Valley investor Y Combinator, Apis Partners, State Bank of India (SBI), and was incubated by PayPal.
Founded in 2021 by Stanford University dropouts, Aadit Palicha and Kaivalya Vohra, Zepto is India’s fastest growing e-grocery company valued at $900 Million following its recent Series-D fundraise of $200M from marquee global investors including Y Combinator Continuity, Kaiser Permanente, Nexus Venture Partners, Glade Brook Capital, and Lachy Groom. Headquartered in Mumbai, Zepto is present across 10 major cities in the country, 1000+ employees strong, and delivering ~3,000 products, including fresh fruits and vegetables, daily cooking essentials, dairy, health-and-hygiene products, etc., to Indian homes within 10 minutes. Through strong tech capabilities, an efficient business model, and a network of highly optimised delivery centres across its 10 locations, the company is revolutionising the Indian grocery segment currently pegged at $600 Billion, making it easier and convenient. Beyond grocery, Zepto has also introduced a cafe offering that allows customers to order Coffee, Chai, and other Café items, along with their groceries.