Cashfree Payments Acquires Zecpe, a One-Click Checkout Platform

• ByStartupStory     |    February 28, 2023

Cashfree Payments has acquired Zecpe, a one-click checkout platform, to enhance its payment gateway services. This strategic acquisition will enable e-commerce businesses to streamline the checkout process and improve conversion rates. Zecpe will operate as a fully owned subsidiary of Cashfree Payments. The financial terms of the deal were not disclosed.

According to Cashfree Payments CEO and co-founder Akash Sinha, the acquisition of Zecpe will enhance their existing D2C Payments Suite for e-commerce businesses. The synergies between the two companies’ products will improve the one-click checkout capabilities, further solidifying Cashfree Payments’ leadership position in the SMB market. The acquisition is expected to benefit the company’s D2C offerings and strengthen its competitive edge.

The acquisition of Zecpe by Cashfree Payments is expected to offer several value-added services, including RTO reduction, fraud detection, and address pre-filling. The integration of Zecpe’s solution aligns with Cashfree Payments’ product strategy, which emphasizes the end customer benefits of their merchants. This acquisition is likely to enhance the company’s offerings and enable them to provide more value to their customers.

Cashfree Payments, established in 2015 by Akash Sinha and Reeju Datta, is a payment gateway that facilitates online payments and payouts for businesses in India. The company secured strategic funding from State Bank of India (SBI) in 2021, valuing it at $200 million after the investment. Cashfree Payments is a reliable platform that enables businesses to accept payments and make payouts with ease.

Zecpe’s Founder, Hriday Agarwal, will be appointed as the Head of e-commerce checkout at Cashfree Payments, along with the other employees of Zecpe, to aid in expanding the product. The D2C sector is witnessing remarkable growth in India, and there is a significant opportunity to assist e-commerce businesses in enhancing their conversion rates while decreasing COD fraud and returns. With its vast network of well-known brands, Cashfree Payments is well-positioned to excel in this space, according to Agarwal.

As part of its expansion strategy in the Middle East North Africa region, Cashfree Payments previously acquired Telr, a top payment service provider in Saudi Arabia and the UAE. The acquisition was aimed at expanding the company’s reach and providing better services to its customers in the region. Cashfree Payments is focused on expanding its footprint and providing top-notch payment solutions to businesses across various geographies.

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