Cashfree Payments partners with Furlenco to offer instant payout service

Reader's Pick

India based leading fintech player, Cashfree Payments has announced its partnership with Furlenco to offer a  security deposit refund experience for its customers, through its Payouts link solution ‘Cashgram’.

The furniture rental company collects security deposits at the start of the subscription plan. Once the subscription ends, Furlenco teams pick up the furniture from the customer site and the security deposit is credited back to the customer’s preferred account using a Cashgram link.

As soon as the Furlenco system identifies that the return is completed, the system auto-generates a Cashgram link using Cashfree Payments’ Cashgram API with the registered phone number or email id of the customer and refund amount. The customer receives the link over Whatsapp/SMS/email and can open the link, enter preferred bank account details or UPI ID or other wallet details where the customer would like to receive the refund money. This helps customers get the refund credited without having to share their sensitive bank account details.

- Advertisement -

This payout system takes care of all the backend activities and automates the refund process for the business. The end customers can also claim refunds instantly even during bank holidays and weekends.

Founded in 2012, Furlenco provides furniture and home decor on rent along with relocation services. Prior to integrating Cashgram, Furlenco’s payout process was majorly manual and highly procedural in nature, which made it tedious, time-consuming and prone to errors and delays. 

“The Cashfree Payments – Furlenco partnership is of high significance as the collections and refund process is an essential part of the rental business,” the statement said.

Speaking on the partnership, Reeju Datta, Co-Founder, Cashfree Payments said, “We are delighted to extend our payout services Cashgram to Furlenco and its users. Cashfree Payments has always strived to undertake innovative approaches to address industry problems.”

“Through Cashgram, we have been helping Furlenco in making the entire process of Payouts simple, stable and seamless. We will continue our efforts of providing consumer-centric products, which will generate greater functional efficiency and convenience for businesses and customers alike,” Datta added.

- Advertisement -

Commenting on the collaboration with Cashfree Payments, Varun Krishnakumar, Director of Products, Furlenco said, “We are happy to partner with Cashfree Payments for Payouts so as to serve our customers with a seamless experience. Prior to this partnership, our refund process was tedious, prone to errors and time consuming owing to system-induced delays.”

“The partnership with Cashfree Payments has allowed us to render fast, secure and user-friendly settlements, thereby enhancing the overall customer journey. Also, from the automation and scalable point, Cashgram has been phenomenal. The time saved, in turn, has allowed us to interact more with the customers in devising more effective and innovative procedures, thus creating a better value proposition,” Varun added.

- Advertisement -
Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Bank of Japan keeps monetary policy steady, brings new forward guidance on rates

The Bank of Japan kept its monetary policy steady on Thursday but introduced new...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sought...

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($239 billion) with...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the first time ever for...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rahul Gandhi...

1Win App: Review India Apk for Android and iOS

The company 1Win has been successfully operating in the markets of many countries around...

Key Challenges that lie ahead for the Cyber security industry

The global pandemic triggered a need for digitization. While this has many advantages, it...

Jack Dorsey may not appear before Indian parliamentary Panel on 25 February

Twitter CEO Jack Dorsey will not appear before the Parliamentary panel on IT on...

An interview with Sajeev Nair, Founder of Vieroots Wellness Solutions

Speaking to the TechGraph, Sajeev Nair, Founder & Chairman, Vieroots Wellness Solutions said, "As...

How Ginesys retail ERP Software Can Solve 7 Common Manufacturing Problems

The retail industry is undergoing a massive transformation. Customers nowadays prefer shopping through multiple...

Top Ways To Keep Your Business Running Smooth

When it comes to the management of a company, it is almost unavoidable that...

In conversation with Paramdeep Singh Anand, CEO of FieldAssist

Today we speak to Paramdeep Singh Anand, CEO of FieldAssist to understand how FieldAssist...

Beginners Guide to Web3, Blockchain & Crypto Jobs

Web3, blockchain, and crypto have become comprehensive terms and have captured the world's attention...

Top 20 Google Slide Templates for Less than $20

Google Slides is a free presentation software accessible on any device through a browser....