BENGALURU, India, Dec. 15, 2022 /PRNewswire/ -- Cashfree Payments, India's leading payments and API banking solutions company, is enabling eUPP (eLite Unified Payment Platform), a fee payment management system for schools and colleges, to offer an instant and secure fee payments experience for end users. Currently, through this partnership, more than 500 educational institutions across the country are leveraging Cashfree Payments' payment collections suite for their payment needs.
eUPP is an online fee payment management system for schools, colleges, universities and other educational institutions. It brings all educational expenses on a single platform and provides maximum benefits to families, students and parents from their expenditures towards education related activities. eUPP is owned by Connexrm Pte Ltd, a Singapore Headquartered company and has a portfolio of products under its umbrella to help an institution cover the entire paradigm of their requirements.
Following this partnership, the 500 educational institutions on eUPP's platform can now seamlessly track their payments collections directly via the eUPP application. Further, they will be able to use Cashfree's payments suite to manage their payments flow directly from the eUPP mobile app. This has helped eUPP boost their transaction success rates, and has enabled their customers to improve their service quality by offering greater transparency and functionality around payments on their existing platform and end customer touchpoints.
Cashfree Payments' robust and reliable payments infrastructure processes 20 million API requests every day, with 99.99% average system uptime. This payments platform is capable of offering higher success rates, owing to its direct integrations with banks, card networks and third party payment players along with in-house dynamic routing algorithms.
Reeju Datta, Co-Founder, Cashfree Payments said, "Digitalisation has gained an essential impetus in the recent past, which has also extended to the education sector. As a part of this partnership, we provided eUPP with a powerful and scalable payments infrastructure which cuts down its payment processing time and delivers a better experience to their customers."
Sumit Shukla, Founder and CEO, Connexrm PTE and Sr. Vice President, Apar Technologies said, "eUPP is a platform that has worked with multiple payment gateways, but we've always found that the best services have been made available to us through Cashfree Payments which has helped in growing our customer confidence. Instant transaction confirmation with a near zero rate of failure is what our platform has experienced so far, while lowering our costs by 30%. This, for us, makes Cashfree Payments the primary choice for all the transactions on eUPP.
I am confident that our growing partnership in offering a combined package of technology, administrative services, payment services, lending services, eUPP universe services would provide schools and other educational institutions an unparalleled experience and would help them with technology adoption and effective financial management."
Cashfree Payments is one of India's leading providers of payment solutions to enterprising businesses, and has received an in-principle approval from the RBI for a Payment Aggregator license. Recently, India's largest lender, SBI invested in Cashfree Payments, underscoring the company's role in building a robust payments ecosystem. Cashfree Payments works closely with all leading banks to build the core payments and banking infrastructure that powers the company's products and is also integrated with major platforms such as Shopify, Wix, Paypal, Amazon Pay, Paytm and Google Pay. Apart from India, Cashfree Payments products are used in eight other countries including the USA, Canada and UAE.
About Cashfree Payments
Cashfree Payments is a leading payment and API banking solutions company. It provides full-stack payments solutions enabling businesses in India to collect payments and make payouts via all available methods with simple integration. Cashfree Payments' offerings include an advanced and easy way to integrate payment gateways, a split payment solution for marketplaces, bank account verification API, and Auto Collect -- a virtual account solution to match inbound payments to customers. Founded by IIIT Hyderabad alumnus Akash Sinha and IIT Kharagpur graduate Reeju Datta, www.cashfree.com is among the leading payment service providers in India processing transactions worth USD 40 Billion annually. It has leveraged technology to lead payment disbursals in India with more than 50% market share among payment processors. Cashfree Payments enables more than 1,50,000 businesses with payment collections, vendor payouts, wage payouts, bulk refunds, expense reimbursements, loyalty and rewards. Apart from India, Cashfree Payments products are used in eight other countries including the USA, Canada, and UAE. Cashfree Payments is backed by Silicon Valley investor Y Combinator, Apis Partners, State Bank of India (SBI), and was incubated by PayPal.
About eUPP
eUPP (https://www.eupp.in) is an Education Vertical Oriented Payment Platform owned by Connexrm Pte Ltd, a Singapore Headquartered company, that has been managing various products in the education sector for more than 5 years and has a portfolio of products under its umbrella to help an institution cover the entire paradigm of their requirements. Connexrm products are managed by Apar Technologies in India as the primary investor and Mr Sumit Shukla, Founder & Global CEO of the company who has been instrumental in designing and innovating the product to be launched in the market. The markets covered by Connexrm in this short span of time include India, Vietnam, Dubai, Singapore and Malaysia with aggressive targeting of the US and European markets in the current and next year in plans.
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