Sinha ensures high standard data and security measures
Cashfree Payments, India’s leading payments and API banking solutions company with network in Canada, the US and UAE, has strengthened its position in the US$40 billion Indian market with the latest ISO 27017 and ISO 27018 certifications.
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. It 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 Canada, the USA and the UAE.
The ISO/IEC 27017:2015 certification confirms that the company has been found to fulfill the Information Technology Security techniques and code of practice for Information Security for cloud services standard.
Further, ISO/IEC 27018:2019 certification signifies that Cashfree Payments fulfills IT security techniques and code of practice for protection of Personally Identifiable Information (PTI) in public cloud standard.
Also, the earlier achieved ISO/IEC 27001:2013 certification implies that the company has implemented all the procedures and processes dictated by the Information Security Management System (ISMS) policy.
The three crucial certifications reinforces Cashfree Payments’ compliance with all the requirements for establishing, implementing, maintaining and continually improving an Information Security Management System (ISMS), as well as demonstrates its commitment to cloud security and data privacy.
The operations of payment aggregators and payment solution providers are subject to stringent security and privacy standards especially with respect to data management. For Cashfree Payments, securing the ISO certifications demonstrates its commitment to ensure the highest level of protection for concerned data processed on a secured cloud-based technology.
Akash Sinha, CEO and Co-Founder, Cashfree Payments, said on 19 Sept 2022, “We have witnessed rapid growth in the Indian payments industry and our business progress has resonated well with it. As a leading Payments solution provider, we have been heedful to ensure high standard data and security measures are implemented to protect customer interests.
“The addition of ISO 27017 and 27018 certifications is a token to the trust bestowed upon us by varied stakeholders. We will continue to be the advocates of the need for existence of an effective regulatory environment.
“Our unfaltered prudence will be dedicated to ensure that our efficient operations are supplemented by the highest possible security standards to keep customer assets and data secure.”
With over 50% market share among payment processors, Cashfree Payments today leads the way in bulk disbursals in India with its product Payouts.
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, Cashfree is among the leading payment service providers in India processing transactions worth US$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 150,000 businesses with payment collections, vendor payouts, wage payouts, bulk refunds, expense reimbursements, loyalty and rewards.
Cashfree Payments is backed by Silicon Valley investor Y Combinator, Apis Partners, State Bank of India (SBI), and was incubated by PayPal. fiinews.com
