Cashfree Payments appoints Abhaya Hota as an Independent Director

By Gloria Mathias

Cashfree Payments, India’s payments and API banking company, has announced the appointment of Former NPCI MD & CEO Mr Abhaya Hota as an Independent Director.

Abhaya Hota is a veteran in the Indian banking and payments industry and has spent close to three decades at the Reserve Bank of India. He was the Former managing director & CEO of the National Payments Corporation of India, where he played a critical role in the design, development and implementation of payment systems and policies in India. He was also instrumental in the implementation of MICR technology in cheque clearing, the launch of UPI, and RuPay credit cards, which are India’s card schemes.

Mr. Hota also serves as an Independent Director at Federal Bank, NSE Clearing, Protean e-Gov Technologies and RBI Innovation Hub.

Akash Sinha, Co-founder & CEO, Cashfree Payments said, “His wealth of experience at the highest levels of banking and finance in the country will be of great value to us, especially from a governance and strategic policies point of view. Mr. Hota will be a great asset to the Board and management at Cashfree Payments.”

Hota shared, “I am happy to join Cashfree Payments India Pvt. Ltd.’s board as an Independent Director and look forward to supporting them as they grow and scale India’s digital payments ecosystem.”

As a veteran of banking, finance, and payments, Mr. Hota’s expertise and guidance will help Cashfree Payments pursue innovative products and services that will help create a more accessible and empowering payments ecosystem for businesses and individuals.

Cashfree Payments, which received the PA license in December 2023, has onboarded thousands of large, medium and small-scale merchants, helping them seamlessly transact and grow. The company has been redefining the way businesses approach digital payments, verification and payouts through its wide range of tech-first offerings.

Over the last few months, it has introduced products like FlowWise, KYC Link, Risk Shield and more. Outside of India, Cashfree Payments is expanding its presence in the UAE region through its acquired partner, Telr.