Mumbai, Nov 22: Cashfree Payments, India’s leading payments and API banking company on Tuesday said it has launched ‘KYC Link’ – India’s first no-code verification solution for Indian businesses, marking a significant leap in simplifying digital identity verification for MSMEs, emerging and digitally transitioning sectors.
The solution eliminates the need for extensive technical expertise, allowing businesses to adopt KYC solutions on day zero, accelerating revenue generation from newly onboarded users.
Akash Sinha, CEO and Co-founder, Cashfree Payments said, “ Built and developed in-house, this solution will revolutionise customer experience, reduce user drop-offs and unlock a higher verification completion rate while helping businesses get compliant with applicable regulations at lower cost. At Cashfree Payments, we continuously problem solve through our engineering excellence and through industry-first launches like these, our aim is to build products and solutions that will support the Indian business ecosystem to grow, thrive and set new benchmarks.”
Addressing the technological excellence behind the groundbreaking product, Ramkumar Venkatesan, CTO at Cashfree Payments, “KYC Link is a powerful metadata-driven, no-code platform designed for dynamic customisation and easy maintenance. Our engineering team has utilised a proprietary Domain-Specific Language (DSL) and tools to generate customized dynamic forms for our merchants, ensuring a seamless user experience. We are excited to introduce yet another industry first product and look forward to delivering accessible and efficient solutions as per market requirements.”
KYC Link incorporates all existing verification solutions offered by Cashfree Payments, including Bank Account Verification (across a network of 600+ banks), UPI, PAN, Aadhaar among others. Also, the solution enables businesses to generate personalised KYC verification links, with the feature to incorporate a business logo and color scheme to enhance the brand experience.
KYC Link is the newest addition to CashFree Payments’ Verification Suite, which is India’s fastest growing Verification Platform, authenticating over 40 crore individuals annually. Businesses can process over 10,000 verifications at once through excel upload or a simple API integration. Verification Suite by Cashfree Payments helps businesses verify the identity and source of funds of individual users and partner businesses like suppliers or service providers through the authentication of Aadhaar, PAN, GSTN, Bank Accounts and UPI handles among others.
