Payouts DIRECT by Cashfree

All your business bank accounts linked and automated

#5 Product of the DayApril 09, 2019
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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.
Reviews
  • Naman Sarawagi
    Naman SarawagiFounder, FindYogi
    Pros: 

    Easy integration. Fast onbaording.

    Cons: 

    None.

    Should be good to enable more banks.

    Naman Sarawagi has used this product for one month.
  • Pros: 

    Easy to integrate and great product

    Cons: 

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    Ayush Gupta has used this product for one year.
Discussion
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Akash Sinha
Akash SinhaMaker@sha26 · Co-founder at Cashfree
Hi PH 👋🏻, I'm Akash, the Co-Founder of Cashfree (YC S17). It's always exciting to share our latest product launch 🚀 with the PH community and receive critical feedback and support. Brief background ⏳: We launched our API Banking platform Payouts 💸 last year on PH. Payouts lets businesses send money round-the-clock ⏰ 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 💪 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 🧐 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 😣 Many debit and credit entries go unreconciled and often become a drag for finance teams. We created Payouts DIRECT 🙌 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 📊 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 😎 Key Features: a) Link multiple bank accounts with Payouts DIRECT. b) Instant transfers 24x7, even on bank holidays 🏖 c) Let your bank account handle the scale of your business -- Send upto 1 Million payouts per day 😮 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 📋 f) Fine grained access control. Grant portal access to new users on-demand 🛠 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 😊 Do share your feedback or questions in the comment section 👇
Pokemon Lovers
Pokemon Lovers@ravindakumark · Seeking for good opportunity.
@sha26 Congratulations Akash. Looks clean.
Akash Sinha
Akash SinhaMaker@sha26 · Co-founder at Cashfree
Kapil Raaj
Kapil Raaj@rovercaps · Software Engineer
Great work, when are you planning to make "(h)" public?
Akash Sinha
Akash SinhaMaker@sha26 · Co-founder at Cashfree
@rovercaps We have been testing this with few pilot users already. Signups are open now.
Vaivhav Kumar
Vaivhav Kumar@govaivhav · Hustler
@sha26 (24/7) banking :) Great UI 🕵
Peeyush Agarwal
Peeyush Agarwal@peeyush_agarwal
Sounds like it'll take away payments pain.
Reeju Datta
Reeju DattaMaker@reejudatta · Co-Founder, Cashfree (Y Combinator S17)
@peeyush_agarwal Yes. Have pinged separately to discuss connecting your multiple bank accounts.
Mahendra Abhi
Mahendra Abhi@mahendra_abhi1
@sha26. I really like the, "instant transfers 24x7, even on bank holidays". Interesting!
Dipesh Garg
Dipesh Garg@dipesh008 · Founder, Truelancer
amazing product by FinTech startup from India. Have been using them from more than 2 years now.
Akash Sinha
Akash SinhaMaker@sha26 · Co-founder at Cashfree
@dipesh008 Thanks for the kind words! Glad we have been supporting you well.
Jitesh Dugar
Jitesh Dugar@jitesh_dugar · Indie Hacker
Love this automation from Cashfree. Exciting times to learn about such magic happening in Fintech. Good luck!
Akash Sinha
Akash SinhaMaker@sha26 · Co-founder at Cashfree
Archit Vyas
Archit Vyas@archit_vyas
@jitesh_dugar I remember our last discussion - you should definitely check out their refund offering via Cashgram
Jitesh Dugar
Jitesh Dugar@jitesh_dugar · Indie Hacker
@archit_vyas yes, we're already onboarded with Cashgram at Drivezy. It's super cool. Integration is in progress. :)