Cashfree Payments launches ‘KYC Link’ to bolster Indian MSMEs
By Gloria Mathias
Cashfree Payments has announced the launch of ‘KYC Link’, a no-code verification solution for Indian businesses, simplifying digital identity verification for MSMEs, and emerging and digitally transitioning sectors.
The solution eliminates the need for extensive technical expertise, allowing businesses to adopt KYC solutions on day zero, and accelerating revenue generation from newly onboarded users.
Akash Sinha, CEO and Co-founder, Cashfree Payments said, “We are excited to introduce India’s first no-code verification solution, KYC Link, to help Indian businesses across MSMEs and emerging and digitally transitioning sectors address verification constraints seamlessly. Built and developed in-house, this solution will revolutionise the customer experience, reduce user drop-offs, and unlock a higher verification completion rate while helping businesses get compliant with applicable regulations at a lower cost.”
With KYC Link, merchants can effortlessly send verification links through SMS, email, or WhatsApp to the user’s mobile number, providing a seamless experience. This process can be automated, saving time and resources for the merchant, or done manually as per their preference.
Ramkumar Venkatesan, CTO at Cashfree Payments shared, “KYC Link is a powerful metadata-driven, no-code platform designed for dynamic customisation and easy maintenance. Our engineering team has utilised a proprietary Domain-Specific Language (DSL) and tools to generate customised dynamic forms for our merchants, ensuring a seamless user experience. We are excited to introduce yet another industry-first product and look forward to delivering accessible and efficient solutions as per market requirements.”
KYC Link incorporates all existing verification solutions offered by Cashfree Payments, including Bank Account Verification (across a network of 600+ banks), UPI, PAN, and Aadhaar, among others. Also, the solution enables businesses to generate personalised KYC verification links, with the option to incorporate a business logo and colour scheme to enhance the brand experience.
KYC Link is the newest addition to CashFree Payments’ Verification Suite. Cashfree Payments helps businesses verify the identity and source of funds of individual users and partner businesses like suppliers or service providers through the authentication of Aadhaar, PAN, GSTN, Bank Accounts and UPI handles, among others.
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