Cashfree Payments introduces GSTIN Verification to assist businesses in verifying the GSTIN of sellers and partners
- ByStartupStory | July 29, 2022
Cashfree Payments, a market-leading provider of payment and API banking solutions, today declared the introduction of GSTIN Verification as a component of its Verification package. The authentication suite already includes a function that permits the verification of bank accounts, Aadhaar, PAN, UPI, and IFSC.
Businesses will be able to instantly confirm the identity of partners and vendors thanks to GSTIN verification from Cashfree Payments. The likelihood of fraud will be decreased by this function, which will confirm the GSTIN number entered and provide a thorough response when the GSTIN is authentic. e-commerce marketplaces, B2B reselling businesses, BFSI sectors including business insurance providers and lending platforms, tax processing and return filing platforms, among others, can employ GSTIN verification.
CEO and Co-Founder of Cashfree Payments, Akash Sinha stated, “With the addition of GSTIN verification to our current Verification Suite, we are excited to broaden our services. GSTIN verification will be effortless, rapid, and error-free thanks to this functionality. The user KYC and associated verification processes are made simple for our partner organisations by our verification suite. Businesses that need real-time vendor/partner verification will greatly benefit from the integration of GSTIN verification.”
He also said, “Our solutions are primarily designed to make our merchants’ journeys toward digitization efficient in a convenient, safe, and economical way. In this effort, we have been making continuous improvements to our services and business practices while also empowering retailers to delight customers. We are eager to keep up our efforts to provide outstanding value propositions to all of our stakeholders.”
About Cashfree Payments
Akash Sinha and Reeju Datta created Cashfree Payments, a market-leading provider of payment and API banking solutions, in 2015. It offers full-stack payment solutions that make it possible for Indian companies to easily integrate payment collection and payout processes for all accepted payment channels.
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