Access 24*7 instant banking services. Connect your bank account with your ERP system or internal product using banking APIs.
API Banking is an online connection which a third party can establish with a bank to get limited access to a bank's core system. Third parties can use the APIs to pull data and offer bank services like bank balance check, account creation etc for their customers.
Safer Banking. Efficient Banking.
There are three primary API Banking models available:
Open banking refers to making customer data that was traditionally only with banks, easily available and accessible via the APIs to third parties, allowing easy credit decisioning, etc.
Using Open Banking APIs facilitate safe and secure access of customer data to third parties that are working in collaboration with banks.
Open Banking enables BaaS.
Banking as a service or BaaS allows non-banks to offer core financial services to their customers by integrating with banks via APIs.
This allows businesses to embed financial services on their platform.
Platform banking is quite the opposite of BaaS and Open Banking.
Unlike previous models, the bank owns the customers, and doesn't share its infrastructure but integrates services from a fintech service provider.
Banks (e.g. ICICI) allow limited and secured access to their core banking system for other third-party platforms, like Cashfree Payments, to access data and execute banking functions like transactions, balance queries, and checking account information.
Note: The brand names have been used only for reference. Brand names & logos are property of the respective bank & institution.
Add multiple fund sources like current bank account, loan account, corporate credit card, Paytm wallet. Add funds, define weightage, initiate payouts, check balance, track transfer status in real time, and do more.
Initiate customer refunds, pay vendors and employees, disburse loans or pay winnings, and more with Payouts 24x7, even on a bank holiday.
Create bank accounts for your users in minutes, with 100% paperless online KYC. Link multiple existing bank accounts and access accounts from a single platform.
With Cashfree Payouts, businesses can manage their entire financial operations and make instant payouts via all available methods using our powerful, easy-to-use dashboard or robust API, that lets you do everything.
| Feature | The Old Way | The New Cashfree Payments Way |
|---|---|---|
| Integration | Tricky integrations - Bank APIs are often written with SOAP protocol that is complex to integrate and offer lesser flexibility around sending data. Your business would typically take 6 months or more to get started. | Easy to integrate. Developer-friendly APIs - Easily integrate with your website, app, and ERP and send money automatically. Use API or easy-to-use Dashboard. Move beyond file upload errors. Bulk payouts are easy now. |
| Transaction Capacity | Limited Transactions Per Second (TPS) - Bank servers can process only a certain number of transactions per second (TPS). If you are a scaling business, all such transactions will fail, if you try to process over the set limit. | Built for scale, works 24x7 - Scale your business with Cashfree Payments's money transfer API. Process upto 100,000 payouts per day. Cashfree Banking APIs work 24x7. Money moves even when banks don't. |
| Bank Account Support | Dependence on a single bank account - Integration is time-consuming for a single account. When a specific bank's server is down, there is no alternative for your business to transact. | Multi-bank support - With the integration of multiple banks, Cashfree Payments provides the ability to reroute transactions to alternate banks if the originating bank server is not responsive. |
| Reconciliation | Difficult reconciliation - In case of any failed or reversed transactions, identifying and reconciling them requires effort. Different banks and different payment methods tend to have varying reporting formats and types of issues, further complicating the problem. | Intelligent reconciliation - Achieve near 100% reconciliation within 24 hours. Transfers, failures, reversals and reconciliation - automate the manual reconciliation process across multiple transfer modes, destination banks and reporting formats. |
| Verification | Friction with verification - The ID Verification process causes too much friction. Customer approval can take minutes, hours, or even days in some cases, as customers must go through a manual and friction-heavy onboarding process. | Frictionless verification. Verify before you pay - You can use Cashfree Payments Bank Account Verification feature to validate the accuracy of bank account number and account holder name before sending money in real-time. Avoid the grunt work and verify UPI IDs in bulk. Automate GSTIN verification for your vendors and supplies. |
Make payouts to any bank account / UPI ID / card/ AmazonPay / Paytm instantly even on a bank holiday.
Payout links to send money without collecting receiver bank account details or UPI details.
Verify and validate users before onboarding to ensure the successful transfer of funds to beneficiaries. Verify bank accounts, UPI VPAs, IFSCs, PANs, Aadhaars, and GSTINs instantly.
Accept domestic and international payments for your website or app.
Create your account or contact our experts to explore custom solutions.
Benefits:
Cashfree Payments enables 1 Million+ growing businesses in India and across the globe to collect payments, make payouts, manage international payments, and more. Cashfree Payments is backed by SBI, Y Combinator, Krafton, and Apis partners and was incubated by PayPal.
RBI Authorised Payment Aggregator License Certificate of Authorisation No. 266/2025
RBI Authorised Prepaid Payment Instrument (PPI) Provider Certificate of Authorisation No. 209/2024