Cashfree Payments Partners with NPCI for ‘AutoPay on QR’: Cashfree Payments has announced the launch of ‘AutoPay on QR’ in collaboration with National Payments Corporation of India (NPCI).
Aim: To enable subscription-based businesses to enhance customer acquisition, supporting retention, and facilitating rapid growth.
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Cashfree Payments’ ‘AutoPay on QR’ will help subscription-based businesses to boost return on investment (ROI) on ad spends by enabling mandate creation in two clicks.
Integration Across Marketing Channels
Subscription-based businesses may smoothly integrate their subscription QR codes into a variety of marketing platforms, such as online ads, newspapers, websites, television, and product packaging. This integration enhances the effectiveness of promotional campaigns, ultimately driving more value for businesses.
Eliminating Onboarding Hassles
Traditionally, subscribing to services like investments, content publishing, or OTT platforms involved a multi-step process that included downloading an app, setting up an account, selecting a plan, choosing a payment service provider (PSP) app, and accessing the subscription.
With Cashfree Payments’ ‘AutoPay on QR,’ this time-consuming onboarding process has been reduced to a simple two-step process. Within 30 seconds, users can scan the QR code and approve an e-mandate via UPI apps. This eliminates the need to download an app or register on a website and directly activates a unique subscription for each customer.
A Boost for Merchant-Customer Relationships
Akash Sinha, CEO & Co-founder of Cashfree Payments, expressed optimism about the launch, stating that it will empower merchants to convert users into loyal, lifetime customers. By simplifying the payment process, ‘AutoPay on QR’ is set to enhance the overall user experience and bolster customer satisfaction.
Integrated with Leading Platforms
Cashfree Payments has established strong partnerships with banks to build the essential payments and banking infrastructure that underpins its product offerings. Moreover, the company is seamlessly integrated with major platforms like Shopify, Wix, PayPal, Amazon Pay, Paytm, and Google Pay, further expanding its reach and accessibility.