Cashfree Payments
Cashfree Payments is growing fast, with FY2025-26 revenue of ₹972 crore, up about 52% (Mint, 7 Oct), and a push to double its SMB base from nearly 1 million to 2 million by end-FY27 (YourStory, 13 Aug). A 0.4% UPI MDR applies from 15 October (Mint).
What it means
Cashfree Payments is still buying its growth, through cashback and partner incentives.
Reported: Revenue +51% in FY26, with a net loss of ₹118 cr.
- Affected
- Pine Labs — subsidised prices to faceDo now: don't match Cashfree Payments' prices rupee for rupee while it buys its growth at a loss.
- Cashfree Payments' bank, lender and insurer partners — terms set by a loss-making buyerDo now: keep it on short payment terms until its loss narrows.
Latest moves
Our read of each move first, where we have one; what the report said is marked Reported.
Background
From 5 stories, the newest dated 16 Sept 2026. Summary written 3 Oct 2026. Newer developments are under Latest moves.
Cashfree Payments is an RBI-licensed payment aggregator founded in 2015.[1] source: YourStory[2] source: Business Standard
Show 3 more paragraphs and 5 sources
It targets India's SMB and digital-commerce base with Checkout 360, EMI/BNPL options, AI-led payment recovery, cross-border payments and next-day settlements.[1] source: YourStory
For FY26, Cashfree's revenue from operations rose 51% to ₹967.4 crore, from ₹640.1 crore in FY25.[2] source: Business Standard Its consolidated net loss narrowed to ₹118.5 crore from ₹154 crore.[2] source: Business Standard It reached EBITDA profitability in March 2026 and aims for full-year FY27 EBITDA profitability.[2] source: Business Standard On 30 August 2026 it launched Relay, an AI-agent service that automates failed-payment retries, abandoned-cart follow-ups, COD confirmation, subscription failures and disputes.[3] source: Business Standard Cashfree targets ₹20,000 crore in lost GMV and plans outcome-based pricing.[3] source: Business Standard On 2 September 2026 it was reported to waive gateway fees for new merchants until Rs 20 lakh in sales.[1] source: YourStory Inc42 reported that Cashfree has made three AjnaLens-related investments totalling ₹18.5 crore.[4] source: Inc42
Inc42 listed Cashfree among five payments platforms, with BharatPe, PayU, Razorpay and Pine Labs, that launched AI agents for merchant operations.[4] source: Inc42 Business Standard reported that Pine Labs, Paytm, Razorpay, Cashfree and Juspay are rolling out AI agents, and that direct AI revenue remains limited.[5] source: Business Standard
Sources
Questions about Cashfree Payments
How fast is Cashfree Payments growing in India?
Cashfree Payments reported FY26 revenue from operations of ₹967.4 crore, up 51% from ₹640.1 crore in FY25, while its consolidated net loss narrowed to ₹118.5 crore from ₹154 crore.[2] source: Business Standard
What is Cashfree Payments' current strategy in India?
Cashfree launched the Relay AI-agent service for merchant payment operations on 30 August 2026.[3] source: Business Standard In September 2026 it was waiving gateway fees for new merchants until Rs 20 lakh in sales, and it is pushing AI-led payment recovery and cross-border payments.[1] source: YourStory
Who are Cashfree Payments' main competitors?
Business Standard reported in September 2026 that Cashfree, Pine Labs, Paytm, Razorpay and Juspay are all rolling out AI agents for merchant payments, cart recovery and support.[5] source: Business Standard
More stories about Cashfree Payments
- Cashfree integrates Snapmint's Pay-in-3, 0% UPI EMI into One Click Checkout for D2C brands
- Cashfree Payments lines up $100M+ pre-IPO Series D for FY27, eyes listing within three years
Stories that mention Cashfree Payments
4 stories
Cashfree Payments is named in these stories but is not their subject.
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