Cashfree, a company that develops payments and banking technology, announced on Tuesday that it had strategically acquired Zecpe, a one-click checkout provider, to improve its direct-to-consumer (D2C) checkout capabilities and provide its merchants with a superior end-to-end checkout and payment experience.
The addition of value-added services like Return to Origin (RTO) reduction, fraud detection, and address pre-filling, among others, will be possible thanks to this acquisition for Cashfree Payments.
“We are certain that this acquisition will improve our D2C one-click checkout capabilities and further solidify our position as the market leader for small and medium-sized businesses.” Our goal at Cashfree Payments is to provide the most payment options possible, and as a result, we are constantly updating our product line to meet the shifting needs of our merchants, according to a statement from Cashfree Payments’ CEO and Co-Founder, Akash Sinha.
Hriday Agarwal, the founder of Zecpe, will serve as Head of E-Commerce at Checkout at Cashfree Payments. The workers of Zecpe will also join the business to help scale the product.
“With Cashfree Payments’ payment stack, we observe a logical fit.” We think that combining Zecpe’s solution with the products and services the business offers will give customers end-to-end checkout and payment options. The market presence that Cashfree Payments has acquired over the years will be advantageous for the items we have created, “according to Agarwal’s comments.”
As of right now, Cashfree Payments will treat Zecpe as a fully-owned subsidiary.
With a focus on the advantages for their merchants’ end customers, Cashfree Payments‘ product approach is in line with the solution offered by Zecpe.
As part of its expansion strategy for the MENA region (a collection of nations in and around the Middle East and North Africa), Cashfree Payments previously bought Telr, a prominent payment service provider in the United Arab Emirates and Saudi Arabia.
