Meesho Marketplace offers small businesses including SMEs, MSMEs and sole proprietors access to millions of customers, choice from over 700 categories, payment services and payment options, customer support to effectively manage their businesses in the Meesho ecosystem.
Cashfree Payments is a popular payment banking and API solutions company. It offers comprehensive payment solutions for businesses in India to collect and make payments through all available methods with easy integration. Cashfree Payments offerings include an advanced and easy way to integrate payment gateways, a split payment solution for marketplaces, a bank account verification API, and Auto Collect, a virtual account solution for reconciling incoming payments with customers.
Meesho, India’s fastest growing e-commerce company, today announced its partnership with Cashfree Payments, India’s leading payment and banking API solutions, to enable instant refunds to be abandoned on all cash on delivery orders ( COD) made through the Meesho platform. This cashless payment integration aims to enhance the shopping experience for all Meesho users and minimize the need for manual intervention on certain orders.
Traditionally, COD is the preferred payment method in India, especially for users in Tier II markets. Reducing the overall processing time to process refund payments will improve the customer experience and also increase their confidence in online transactions. Through this partnership, Meesho aims to successfully process any refund in less than 2 hours and eliminate drops in the payment funnel caused by technical or banking failures. This entire redemption process is automated by Cashfree Payments’ “Payouts” bulk payout offer. Additionally, the integration with Cashfree Payments will automate payments to vendors and will also enable payment via UPI.
Commenting on the partnership, Kirti Varun Avasarala, Meesho’s Chief Product Officer, said, Cash On Delivery (COD) remains a preferred payment method in India. They have found that unexpected delays or issues processing refunds can cause inconvenience and loss of confidence. Meesho’s goal is to become the shopping destination of choice for India’s next billion consumers and our partnership with Cashfree Payments will address a very important aspect of the user journey and help us get closer to that goal.
Reeju Datta, Co-Founder of Cashfree Payments, said that they are excited to work with Meesho to address the issue of slow refunds, particularly for cash on delivery orders. Payouts will help Meesho delight their customers with faster refunds by posting the refund amount to the customer’s bank account in less than 2 hours by automating the process. Late refund requests are a major source of customer tickets for eCommerce businesses and they look forward to helping Meesho reduce these requests to zero.
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