Payouts DIRECT by Cashfree

All your business bank accounts linked and automated

#5 Product of the DayApril 09, 2019
Payouts DIRECT is an API Banking platform that lets businesses link all their bank accounts; automate Payouts to thousands of users per day; pull and reconcile their bank statements and derive insights from their banking data.
Discussion
Would you recommend this product?
26 Reviews5.0/5
Maker
Hiring
Hi PH ๐Ÿ‘‹๐Ÿป, I'm Akash, the Co-Founder of Cashfree (YC S17). It's always exciting to share our latest product launch ๐Ÿš€ with the PH community and receive critical feedback and support. Brief background โณ: We launched our API Banking platform Payouts ๐Ÿ’ธ last year on PH. Payouts lets businesses send money round-the-clock โฐ and instantly to bank accounts, UPI, PayTM and cards with a simple integration in their product, instead of uploading complicated files on their corporate banking portals. Payouts is now used by thousands of businesses ๐Ÿ’ช for use cases like vendor payouts, wage payouts, bulk refunds, expense reimbursements, loyalty & rewards. More than 10 million accounts have received a Payout via Cashfree. Over the course of running Payouts, we identified ๐Ÿง new opportunities to improve the banking experience for businesses. Support for sending Payouts to users straight from the bank account of businesses was not present earlier. We also figured that businesses spend a good amount of time reconciling their bank account statements -- often across multiple banks -- which are not accessible in a user-friendly way ๐Ÿ˜ฃ Many debit and credit entries go unreconciled and often become a drag for finance teams. We created Payouts DIRECT ๐Ÿ™Œ to provide the best business banking experience to internet companies for key operations. Using Payouts DIRECT, businesses can link all their bank accounts; automate Payouts to thousands of users per day; pull and reconcile their bank statements and derive insights from their banking data ๐Ÿ“Š Payouts DIRECT connects your product or ERP to the banking system via APIs and removes the need to switch between bank accounts by tracking all banking operations on a single interface ๐Ÿ˜Ž Key Features: a) Link multiple bank accounts with Payouts DIRECT. b) Instant transfers 24x7, even on bank holidays ๐Ÿ– c) Let your bank account handle the scale of your business -- Send upto 1 Million payouts per day ๐Ÿ˜ฎ d) Pull bank statements for linked accounts. Run search queries using UTRs, account numbers, tags and remarks. e) Gain insights on Payouts and Collections e.g X amount was sent to payee Y in last 6 months OR total of XX amount was paid out as salaries in last quarter ๐Ÿ“‹ f) Fine grained access control. Grant portal access to new users on-demand ๐Ÿ›  g) Developer friendly APIs. Connect Payouts DIRECT with any third party ERP or software. h) Plugins for major accounting tools (SAP, ORACLE, TALLY) (Yet to be made public) Excited to hear from you all ๐Ÿ˜Š Do share your feedback or questions in the comment section ๐Ÿ‘‡
@sha26 Congratulations Akash. Looks clean.
Maker
Hiring
Great work, when are you planning to make "(h)" public?
Maker
Hiring
@rovercaps We have been testing this with few pilot users already. Signups are open now.
@sha26 (24/7) banking :) Great UI ๐Ÿ•ต
Sounds like it'll take away payments pain.
Maker
Hiring
@peeyush_agarwal Yes. Have pinged separately to discuss connecting your multiple bank accounts.
@sha26. I really like the, "instant transfers 24x7, even on bank holidays". Interesting!

Should be good to enable more banks.

Pros:

Easy integration. Fast onbaording.

Cons:

None.

amazing product by FinTech startup from India. Have been using them from more than 2 years now.
Maker
Hiring
@dipesh008 Thanks for the kind words! Glad we have been supporting you well.