Payments and API banking company has rebranded its recently-acquired subsidiary, , to Ecom360, as it looks to double down focus on offering checkout conversion solutions to online D2C merchants.
Cashfree had acquired Zecpe, a one-click checkout solution platform, in February to add to its suite of D2C services to online merchants, alongside payments.
The acquired firm continued to operate as a separate entity to focus on the larger scheme of things and create an all-in-one SaaS product for D2C merchants that includes tools for better conversions and post purchase experience, according to Hriday Agarwal, General Manager, Ecom360.
The new SaaS product comes bundled with different services that resolve return to origin (RTO) issues, nudge customer into pre-paid payments (reducing cash on delivery orders), and provide order tracking mechanism and analytics to understand high potential orders.
The idea is to elevate the customer shopping experience, prevent returns, streamline operations, and offer better post-order support.
Currently, 1,500 brands are availing themselves of the services of Ecom360, which aims to tap the large pool of Cashfree’s merchant clients in future, while continuing to operate independently.
“With Ecom360, we hope to address the growth difficulties faced by D2C and e-commerce enterprises, including improving checkout and payment processes and enabling them to provide seamless pre- and post-order experiences for customers,” said Agarwal. Adding inventory management tools is in the pipeline, he added.
The firm with an eight-member team says its solution has led to a 15-20% jump in a brand’s product conversion rate, besides saving cost on RTO. It charges a subscription fee along with a percentage of the customer’s order amount on the D2C platform.
“We are excited to introduce Ecom360 to D2C merchants in India, providing a comprehensive solution to address all their end-to-end growth challenges,” said Akash Sinha, CEO and Co-founder, Cashfree Payments.
“This is a significant step in our mission to empower businesses with enhanced payments capabilities, allowing them to scale up rapidly,” he added.
Edited by Swetha Kannan
