Cashfree Payments, a leading payments and API banking solutions company, today announced that it continues to dominate the payments disbursal space in India with more than 50% market share. The company’s bulk disbursal product, Payouts, recorded over 100% growth in FY22 compared to FY21, driven by seamless integration, faster turnaround times, user-friendly onboarding, and robust customer support.
Cashfree Payments enables businesses to make instant payouts through multiple channels including bank accounts, UPI IDs, IMPS, NEFT, Paytm, Amazon Pay, cards, and native wallets — available 24x7, even on bank holidays. With features like instant beneficiary verification, fraud detection, and API-level security, the platform ensures accuracy, scalability, and reliability. Its Payouts suite also includes innovations such as Cashgram and Global Payouts, designed to meet diverse business requirements.
With India witnessing rapid adoption of digital and contactless payments, Cashfree Payments has seen strong traction across e-commerce and financial services. In FY22, payouts to UPI handles grew by 562% while IMPS transactions registered 91.3% growth over FY21. At peak, the platform now processes up to 1,000 payouts per second, enabling over 2 million disbursals per day for thousands of merchants.
Akash Sinha, CEO and Co-Founder, Cashfree Payments, said:
“The Indian economy has entered a new phase of growth with rising digital adoption. Through Payouts, we ensure seamless disbursal of payments, wages, rewards, and refunds for both businesses and users. Our comprehensive product suite — covering payments collection, disbursals, verification, softPOS, and banking APIs — is built to address critical business needs. With a future-ready mindset, we remain committed to driving innovation and creating value for all stakeholders.”
Highlighting industry trust, State Bank of India, the country’s largest lender, recently invested in Cashfree Payments. The company also partners with leading banks to strengthen India’s payments and banking infrastructure, while being integrated with global platforms such as Shopify, Wix, PayPal, Amazon Pay, Paytm, and Google Pay. Beyond India, Cashfree Payments’ solutions are used in eight countries including the USA, Canada, and the UAE.
