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

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

#11

Post by akashindya »

salilpa wrote: post #5

I send multiple payouts by file uploads on my bank regularly, but this doesn't work on weekends. Can you help here?

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 care@gocashfree.com, 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.

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

#13

Post by sitepodmatt »

"Sorry, we don't recognize this email id."

This doesn't sound good. Should you not be doing 'If we recognize this email we will send you a verification code' with a timing randomization / delay if you're doing anything on the request pipeline such as the SMTP send.

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

#14

Post by sandGorgon »

akashindya wrote: post #7
sandGorgon wrote: post #4

Hi, This is pretty cool. Incoming cash into bank accounts is super hard to manage and we are looking for some help here. Do you handle situations where "posting" of a transaction happens later than the date it is actually meant to. Some banks will then insert it in the middle (they don't treat it as an append only log) and that breaks the whole reconciliation. Things like transactional balance(for each line item) sta…

We display incoming transactions at our dashboard in the order of their receipt. Not sure what logic banks use to insert new transaction in the middle of statement log. It doesn't happen with our AutoCollect(NEFT re-conciliation) product. We will set up a demo account for you and let you try it for multiple transactions. Do share your email or drop a note to us at care@gocashfree.com. Thanks!

My email is in my profile (or in Bookface). This is actually the single biggest issue in cash reconciliation.

If this is something your banking partner and you can solve, we would love to hear more.

FYI - all ecommerce companies in India have this issue. Usually they have to jump a lot of hoops with banks to make it work.

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

#15

Post by akashindya »

sitepodmatt wrote: post #13

"Sorry, we don't recognize this email id." This doesn't sound good. Should you not be doing 'If we recognize this email we will send you a verification code' with a timing randomization / delay if you're doing anything on the request pipeline such as the SMTP send.

Hi, Both the approaches are correct. However, first one is more helpful to registered users who want to reset their password. Sometimes, they forget the email id they registered their account with and the "Sorry" message helps them think harder and try alternative email addresses.

In the latter, they will wait for the code for a minute or two and then realise they entered an in-correct email id.

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

#16

Post by codegladiator »

akashindya wrote: post #15
sitepodmatt wrote: post #13

"Sorry, we don't recognize this email id." This doesn't sound good. Should you not be doing 'If we recognize this email we will send you a verification code' with a timing randomization / delay if you're doing anything on the request pipeline such as the SMTP send.

Hi, Both the approaches are correct. However, first one is more helpful to registered users who want to reset their password. Sometimes, they forget the email id they registered their account with and the "Sorry" message helps them think harder and try alternative email addresses. In the latter, they will wait for the code for a minute or two and then realise they entered an in-correct email id.

first one is more helpful to hackers who want to figure out which accounts are registered on your site, and then later proceed with a brute force / social attack.

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

#18

Post by adanak »

Hey Akash,

(a) Is there a limit on the quantum of the financial transaction? Example, can an online funding platform (ticket size is $5,000 to $50,000) use Cashfree to move money from angels to startups?

(b) Can solution handle overseas payments? To or from India.

Cheers,

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

#20

Post by thepoet »

tatsean wrote: post #2

I just checked the API documentation. It seems that all the requests are through HTTP POST, including Get Status and Get Link, wonder how can that be considered as RESTful?

Nope, not RESTful but still looks usable and they would surely iterate and improve. Violates third, fourth and last of Roy Fieldings constraints [1], last one being really helpful while using APIs [2]

[1] http://roy.gbiv.com/untangled/2008/rest-apis-must-be-hyperte...

[2] https://en.wikipedia.org/wiki/HATEOAS

Cashfree looks promising and something really needed in India especially the bank transfer API. Good luck to the team.

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