Akash Sinha is the co-founder and CEO of Cashfree Payments, discussing the company's financial growth roadmap.
Assertion Not checkable as stated
Sinha: Cashfree Captures Up to 50% of New Indian SME Signups
“Today we get more than 45 to 50% of new SME signups, which are happening in there right on cash-free, right? We get more than 30,000 leads on cash-free platform every month, which is a very sizable number. We have clearly won the SME market, right?”
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Sinha: Cashfree Holds Up to 60% Share in Payouts and Verification
“I think there are a lot of products which we have pioneered in the industry, likes of PRs, connected banking, verification, and a lot of these markets, we own more than 55, 60% of market share, right?”
Assertion Supported
Cashfree was India's first payments company to launch bulk payouts
“We were the first payments company in India to launch payouts. No one had payouts back then.”
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Sinha: Existing Payment Companies Will Dominate, Blocking New Entrants Within Five Years
“Same is going to happen with payments also in the next five years, right? So whatever payment companies are there today in five years, they'll become more dominant and it's very difficult to start a payments company.”
Assertion Supported
Sinha: UPI Adoption Triggered a Big Rise in Phishing and Scams
“Risk and fraud is another big area that we see emerging due to the launch of UPI and making digital payments more and more convenient. We also saw a big rise in terms of all the incidents around, you know, scamming people or people losing money because of all …”
Prediction Not checkable as stated
Sinha: Indian Payments Will Consolidate to 10 Relevant Firms
“Even in payment, there will be 10 companies which are relevant, each getting to specific pockets. But in certain areas, there will be leader, right? Say in SME segment, there will be two or three players, which are large enough. In e-commerce as the industry, …”