For an unknown sum, the one-click checkout platform Zecpe was purchased by payments gateway provider Cashfree Payments.
According to a press statement from Zecpe, this purchase will enable Cashfree Payments to provide more value-added services including Return to Origin (RTO) minimization, fraud detection, and address pre-filling.
Zecpe claims that speeding up the checkout process for customers, it helps e-commerce enterprises increase conversion rates. It will function as a fully-owned subsidiary of Cashfree Payments. Zecpe’s creator Hriday Agarwal will become Head, E-Commerce, Checkout on the Cashfree Payments team. To assist expand the product even further, the Zecpe staff will also join Cashfree Payments alongside him.
Payment Portal Cashfree, established in 2015 by Sinha and Reeju Datta, enables companies in India to accept payments online and send payments. Cashfree had previously secured strategic capital from the State Bank of India (SBI), the country’s largest lender, in 2021 at a $200 million post-money value.
More than 3,000,00,000 businesses, according to Cashfree Payments, are able to accept payments and send rewards using any method. The business had already purchased Telr, a major supplier of payment services in the UAE and Saudi Arabia, as part of its plan to increase its presence in the Middle East and North Africa.