Cashfree Payments partners with Global Trade Plaza to offer cross-border payments to Indian exporters

Indian fintech startup Cashfree Payments today said it has partnered with Kanpur-based B2B trade marketplace Global Trade Plaza to provide Indian exporters with an improved cross-border payment experience.

The partnership will enable esports to collect payments

Under the partnership, the ‘Global Collections’ solution by Cashfree Payments will enable Indian exporters to collect payments in over 15 foreign currencies.

Subsequently, the received funds will be efficiently converted into INR and settled into their local Indian bank accounts within 48 hours.

Further, exporters will also be able to get auto-generated foreign inward remittances advice (e-FIRA), the company said.

How will it benefit exporters?

With Cashfree Payments’ Global Collections solution, exporters will be able to share their global collection account details with their international clients over email, SMS, or WhatsApp.

On the other hand, The buyers will be able to make payments using local rails like Automated clearing house (ACH), Single Euro Payments Area (SEPA), etc.

What are the offerings of Global Trade Plaza?

Global Trade Plaza is a B2B portal that offers a comprehensive platform for businesses to connect, trade, and grow globally.

The company said it aims to simplify and streamline international trade, making it easy, safe, and hassle-free for businesses around the world to connect, communicate, and securely transact with one another.

Cashfree Payments partnership with Shopify 

The development comes almost a month after Cashfree Payments partnered with Shopify to facilitate onsite card payments for Indian merchants.

Cashfree Payments is an Indian fintech giant that provides payment solutions to businesses in India, including the integration of payment gateways, split payment solutions for marketplaces, and bank account verification API.

The company is backed by notable entities such as SBI and Y Combinator and is integrated with various platforms, including Wix, PayPal, Amazon Pay, Paytm, and Google Pay.

At present, the startup is operational in eight countries, serving 3 lakh businesses and processing transactions worth $40 billion annually.

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