Launch HN: Cashfree (YC S17) – Automated Payouts and Bank Transfers for India

Re:Launch HN: Cashfree (YC S17) – Automated Payouts and Bank... by akashindya on Monday October 23, 2017 @02:58AM (#15531236)

Hi, Many banks support bulk transfers only over NEFT and thus it's limiting them to process your payouts on weekends.

We send out most of our payouts over IMPS and can be used 24x7. IMPS has couple of restrictions though (a) We don't have as many banks as we have on NEFT network [List is here: https://www.npci.org.in/links-imps-members] (b) single transaction can't be more than Rs. 200,000 (however, you can totally send multiple IMPS transfers to the same account).

Checkout the banks at IMPS network. Do get in touch with us at [email protected], if majority of your beneficiary accounts belong to those banks. Last we checked, most of the major banks (ICIC, HDFC, AXIS, SBI, YES, Kotak, RBL, BOI etc) are present.

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Re:Launch HN: Cashfree (YC S17) – Automated Payouts and Bank... by sandGorgon on Monday October 23, 2017 @06:25AM (#15532069)

why IMPS and not UPI ? just curious since UPI looks to be the replacement for IMPS all over.

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Re:Launch HN: Cashfree (YC S17) – Automated Payouts and Bank... by vinsat on Monday October 23, 2017 @06:32AM (#15532093)

UPI has a limit of 10k per transaction and 20k per day.

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Re:Launch HN: Cashfree (YC S17) – Automated Payouts and Bank... by aryamaan on Monday October 23, 2017 @07:40AM (#15532383)

I don't think this is correct. I just made a transaction of more amount than you mentioned.

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