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

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21–30 of 44 posts

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

#22
post #18

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,

Hi there, (a) We support payouts till INR 10,000,000. (b) We don't handle overseas transfers currently. Payouts can be sent to any bank account in India. If you are a overseas business and have a entity registered in India, then we can onboard you at our platform for payout services.

Reach out to us at care@gocashfree.com or leave your email, we will get in touch.

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

#26

"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.

No, this is fine. If anyone malicious wanted to find out if an email address is registered they could simply try to create a new account using it.

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

#27
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…

why IMPS and not UPI ? just curious since UPI looks to be the replacement for IMPS all over.

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

#28

Earlier quoted context omitted.

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…

why IMPS and not UPI ? just curious since UPI looks to be the replacement for IMPS all over.

UPI has a limit of 10k per transaction and 20k per day.

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

#29

Earlier quoted context omitted.

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.

Malicious users can always check that via the signup flow anyway.

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

#30
post #28

Earlier quoted context omitted.

why IMPS and not UPI ? just curious since UPI looks to be the replacement for IMPS all over.

UPI has a limit of 10k per transaction and 20k per day.

I don't think this is correct. I just made a transaction of more amount than you mentioned.
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