BENGALURU, India , Aug. 7, 2023 -- Cashfree Payments, India's leading payments and API banking company, has announced the rebranding of its subsidiary, Zecpe, to 'Ecom360'. Ecom360 caters to the end-to-end growth challenges faced by D2C businesses across their customer and product lifecycles. With Ecom360, businesses gain access to a comprehensive set of solutions built to elevate customer shopping experiences, prevent returns, streamline operations, and offer exceptional post-order support.
In early 2023, Cashfree Payments acquired Zecpe, a one-click checkout solution which tackled the checkout conversion challenge, a core problem faced by D2C businesses. Keeping to the same mission, Ecom360 will address a broader set of core problems, unlocking value and facilitating exponential growth. Ecom360 will operate as a distinct brand within Cashfree Payments, offering tailored solutions for the D2C ecosystem.
Indian customers have become accustomed to a refined ecommerce journey as large marketplaces have optimised their online shopping experience. However, D2C businesses lack this capability due to multiple growth challenges such as complex check out, lack of order tracking, inventory management hurdles, and returns on COD orders. Ecom360 will bridge this gap by offering solutions that address these obstacles directly on the brands' websites, empowering Indian ecommerce retailers to deliver enterprise-grade experiences and build customer trust.
Hriday Agarwal, General Manager, Ecom360, said, "We are thrilled on the launch of the all-in-one e-commerce suite, Ecom360. The D2C and e-commerce sector in India has grown and expanded to remarkable heights and we anticipate that it will continue to do so. At the same time, we are aware of the numerous issues these D2C companies face as they expand. With Ecom360 by Cashfree Payments, we hope to address the growth difficulties faced by D2C and e-commerce enterprises, including improving checkout and payment processes and enabling them to provide seamless pre- and post-order experiences for customers."
Akash Sinha, CEO and Co-Founder, Cashfree Payments, said, "We are excited to introduce Ecom360 to D2C merchants in India, providing a comprehensive solution to address all their end-to-end growth challenges. This is a significant step in our mission to empower businesses with enhanced payments capabilities, allowing them to scale-up rapidly. It is also a testament to our commitment to the nation's Make in India initiative, by helping businesses to grow sustainably. We have always focussed towards innovating and introducing effective payments products for our merchants. Ecom360, aligns with this notion, as we aim to revolutionise e-commerce for businesses."
With over 50% market share among payment processors, Cashfree Payments today leads the way in bulk disbursals in India with its Payouts and is also among the leading online payment aggregators. India's largest lender, SBI invested in Cashfree Payments underscoring the company's role in building a robust payments ecosystem. Cashfree Payments works closely with all leading banks to build the core payments and banking infrastructure that powers the company's products. Cashfree Payments is also integrated with major platforms such as Shopify, Wix, Paypal, Amazon Pay, Paytm, and Google Pay. Apart from India, Cashfree Payments products are used in eight other countries including the USA, Canada, and UAE.
About Cashfree Payments
Cashfree Payments is a leading payment and API banking solutions company. It provides full-stack payment solutions enabling businesses in India to collect payments and make payouts via all available methods with simple integration. Cashfree Payments' offerings include an advanced and easy way to integrate payment gateways, a split payment solution for marketplaces, bank account verification API, Lending disbursals solution and Auto Collect -- a virtual account solution to match inbound payments to customers. Founded by IIIT Hyderabad alumnus Akash Sinha and IIT Kharagpur graduate Reeju Datta, www.cashfree.com is among the leading payment service providers in India processing transactions worth USD 40 Billion annually. It has leveraged technology to lead payment disbursals in India with more than 50% market share among payment processors. Cashfree Payments enables more than 3,00,000 businesses with payment collections, vendor payouts, wage payouts, bulk refunds, expense reimbursements, loyalty and rewards. Apart from India, Cashfree Payments products are used in eight other countries including the USA, Canada, and UAE. Cashfree Payments is backed by Silicon Valley investor Y Combinator, Apis Partners, State Bank of India (SBI), and was incubated by PayPal.
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