Inside Cashfree’s C-suite: New hires and rejigs after securing key RBI licences

Cashfree Payments has had an eventful year, becoming the only fintech startup in the country to receive three key licences from the Reserve Bank of India (RBI) in a span of 10 months.

First came the payment aggregator (PA) licence in December 2023, allowing Cashfree to operate in the domestic merchant payments segment. Then in July 2024, it became the first Indian fintech to obtain the much-awaited payment aggregator cross-border (PA-CB) licence that lets it process multi-currency merchant transactions in the import-export space. Finally, in late October, Cashfree bagged the prepaid payment instrument (PPI) licence from the RBI, which permits the Bengaluru-based company to operate mobile wallets, prepaid cards, and vouchers, etc.  

Besides receiving a series of regulatory approvals, Cashfree also launched an array of new products over the past year. These include FlowWise (a payment orchestration platform for businesses), Risk Shield (a real-time risk management and fraud monitoring tool), and Secure ID (end-to-end solution for identity verification and KYC of merchants).