Mumbai: Leading digital payments and banking technology company, Cashfree, has announced its association with eminent Indian fashion designer, Ritu Kumar, as the brand’s digital payments partner. Purchases made through the official websites of the brand will be directed through Cashfree’s payment gateway. International customers can make payments through the website which will be accepted through Cashfree’s international payment collections which accepts all major international currencies including USD, EUR, GBP, and JPY.
With customers across multiple geographies using 15 – 20 different currencies for purchase, Cashfree will help Ritu Kumar by accepting payments in 22 currencies along with supporting for 14 currencies for PayPal transactions. Prior to the partnership, Ritu Kumar’s official website was using separate payment gateways for domestic and international payments. However, by integrating with Cashfree, now all online payments will be managed using a single payment gateway. In India, Cashfree has the fastest settlement cycle in the industry for international collections.
Ritu Kumar’s website is hosted on Magento which is one of the world’s most popular e-commerce hosting platforms and uses the Magento plugin built by Cashfree to accept payments. The Cashfree Magento plugin also helps the Ritu Kumar team to detect cart abandonment where a customer has clicked on the checkout link but has not completed the transaction. This enables them to connect again with these customers to help complete the payment through multiple channels. Cashfree has also implemented multiple customisation options for Ritu Kumar for easier reconciliation of customer payments.
Akash Sinha, CEO and Co-Founder, Cashfree said, “At Cashfree, we believe in providing customised payment solutions that benefit businesses and as a result, the end-customers as well. We have been working towards developing the right mix of products and solutions that can comprehensively cater to the needs of the businesses and provide a greater customer experience. Customised offerings add value to the businesses in terms of understanding their different use cases and helping them reduce extra operational costs, thereby aligning the entire payment process. With this partnership, we offer ease of payment options to Indian and global customers on Ritu Kumar’s digital platform.”
Commenting on the development, Mr. Amrish Kumar, Managing Director of Ritu Kumar, said, “The association with Cashfree comes at an opportune moment when e-commerce is witnessing a tremendous boom. Cashfree will enable us to cater to our international consumers much more easily on the website, while setting the tone for our expansion into servicing online shoppers from other markets. We’re certain that Cashfree will prove to be an integral partner in our growth.”
Since Cashfree is also directly integrated with PayPal, Ritu Kumar’s international customers can also opt to pay via the PayPal Express Checkout button, allowing for a faster and smoother checkout experience. This integration removes a layer of complication where a customer would have to log in to their PayPal account thereby reducing the number of redirections for the customer and offering a more seamless transaction. With this integration, Ritu Kumar also gets access to transaction monitoring, fraud prevention and Seller Protection tools offered by PayPal.