Cashfree Payments expands beyond e-commerce into overseas and B2B payments

Cashfree Payments is preparing pilots in overseas investment, travel and business-to-business payments. The Bengaluru company expects cross-border activity to account for 25% of revenue within three to four years, up from about 10% now.

Founded in 2015, Cashfree processes about $80 billion a year for more than 1 million businesses. In February 2025, the company raised $53 million from Krafton and Apis Partners and served more than 800,000 businesses. By May 2026, Cashfree’s FY26 revenue was about 1,000 crore, it became EBITDA profitable in March 2026 and it is targeting full-year EBITDA profitability in FY27.

The expansion comes after a tighter regulatory reset in India’s payments industry. The Reserve Bank of India issued its Master Direction on Regulation of Payment Aggregator on September 15, 2025, consolidating earlier online and cross-border rules into a single framework, and non-bank payment aggregators had to obtain authorisation by December 31, 2025. Cashfree’s licence gives it room to extend into adjacent services.

That strategy is already visible in travel. On March 26, 2026, RateGain Travel Technologies announced a partnership with Cashfree Payments to combine Cashfree’s domestic payments gateway and cross-border stack for travel and hospitality transactions across 176 countries, using local methods such as UPI and RuPay cards.