Cashfree Global Payouts is a cross-border payment platform that enables businesses worldwide to send money to sellers, service providers, and freelancers in India directly to their local bank accounts. The service is designed to be simpler, faster, and cheaper than traditional international money transfer methods.
Global Payouts is designed for:
The Global Payouts process involves three simple steps:
Add funds from your bank to your Cashfree Payouts account.
Supported Currencies:
Upload recipient bank details and verify them using the Validation Suite to ensure accuracy before processing payments.
Execute bulk payouts - send 10,000+ payments to recipients in a single batch directly to their local Indian bank accounts.
Starts at 1%* plus taxes per wallet recharge (inclusive of foreign exchange and other charges)
Included Benefits:
Note: Pricing as stated in original content
*Valid Till 31st March 2024
Custom pricing designed for enterprises with the following benefits:
Contact the sales team to explore custom pricing options.
"Cashfree is delivering massive value to our Indian merchants who are interested in selling globally. Cashfree has made the settlements much faster and easier. Their support is outstanding and we couldn't be more happy partnering with such a company!"
Emy Carlan, CEO - Plug & Paid
"We are very excited to be partnering with Cashfree to provide an innovative solution which enables instant cross-border payments to Indian e-tailers selling products to the Middle East. With Cashfree, we are able to provide merchants in India with convenient and flexible options allowing them to receive money instantly from online purchases. This FinTech based solution supports the demands of these markets and enables Indian e-tailers to penetrate the MENA region's markets. It also ensures retail businesses are able to seamlessly process transactions, ultimately improving cash flow management, boosting order acceptance rates, and enabling those businesses to focus on profitable growth."
Samer Marei, Regional Director - South East Asia & the Indian Sub at Aramex
Global Payouts by Cashfree is a cross-border payments platform that connects businesses across the globe with businesses and individuals operating out of India. Cashfree enables businesses to facilitate payments to their partner sellers, service providers and freelancers by using Cashfree's payment infrastructure without having to open a place of business in India. Global brands like Dlocal, Plug & Paid and Aramex use Global Payouts for their bulk payouts needs.
To start using Global Payouts you need to have an international business bank account. Contact Cashfree's expert team, and they will contact you within the next 6 business hours.
To activate your account, submit scanned copies of the following documents:
Global Payouts is available to:
Before initiating a payout to any recipient in India, you need to collect the following details:
Transaction Limits:
Important Regulatory Note:
As per RBI regulations on OPGSP (Online Payment Gateway Service Providers), providers can hold funds on behalf of businesses only for 7 working days from the date of deposit. Therefore, funds deposited in the Cashfree Global Payouts wallet need to be utilized within 7 days of recharge, after which the funds will automatically be reversed to the source bank account.
Purpose Code is a code issued by the Reserve Bank of India (RBI) to classify the nature of foreign currency transactions. Purpose codes help regulators identify the exact nature of a cross-border transaction.
Before initiating a payout to any recipient, you need to specify this code. Certain payments may be restricted or prohibited as per RBI policy. Purpose code validation happens to avoid illegal transactions. Refer to your Payouts Global dashboard to understand the permissible purpose codes.
To send payouts to recipients in India, you need to recharge your Cashfree Global Payouts account. You can deposit funds in 17+ international currencies including:
Foreign Inward Remittance Statement Copy (FIRS) is a document that serves as proof of a foreign transfer to India.
Importance:
Based on the FIRS details, the beneficiary bank issues:
These certificates are required as proof at:
Use Cases:
Cashfree Payments enables 1 Million+ growing businesses in India and across the globe to collect payments, make payouts, manage international payments, and more.
Backing and Credentials:
To start using Cashfree Global Payouts:
Support Features: