Retailio partners with Cashfree to enable digital payments

Retailio partners with Cashfree to enable digital payments

India’s Pharmaceutical B2B marketplace giant Retailio has partnered with Cashfree – one of India’s leading payments and banking technology companies to strengthen the digital invoice payment system. In the wake of COVID-19, there are concerns that the virus is also transmitted by cash transactions and contactless payments is the new normal now. This partnership has enabled quick and safe digital transactions for the pharma retailers and distributors.

Mr. Suyash Motarwar, Head of Technology - Retailiosaid “Our customer base is accustomed to using traditional methods for payments. So, it was extremely important for us to build a simple and seamless product experience that would enable digital invoice payments on our platform and bring in this behavioral shift in our customers. Cashfree provided a comprehensive solution and integrated seamlessly in our workflow.”

Cashfree facilitates a different user experience as it offers the highest number of payment modes in India via a single integration including Pay Later, Paytm, Cardless EMI and even recurring subscription payments. It’s the only payment gateway that offers instant refunds versus the industry standard of 5-7 working days which ensures Cashfree merchants can delight their customers while running business operations smoothly.

Akash Sinha, CEO & Co-founder, Cashfree said “Cashfree is glad to partner with Retailio to enable contactless digital payment collection for pharma retailers and distributors. The adoption of digital payments at this time will not only help businesses collect the payments faster and improve their working capital management but will also make payments safer - both for the business, as well as the end customers.
“The Government of India and the RBI have been encouraging people to use digital payment tools amidst this COVID-19, to prevent the spreading through currency notes.