Cashfree Payments have launched CVV-free card payments for partner businesses allowing customers faster checkouts on Visa, Mastercard, and RuPay

CVV-free card payments for partner companies have been introduced by Bengaluru-based payments and API banking provider Cashfree Payments. Customers may enjoy quicker checkouts when using stored cards on networks like Visa, Mastercard, and RuPay. With the new functionality, cardholders won't have to manually enter the CVV, a three- or six-digit number found on credit, debit, or prepaid cards. 

Akash Sinha, CEO and co-founder of Cashfree Payments, said, “With CVV-free payments, we are reducing friction for cardholders, aligning their payment experience with other popular modes like UPI Intent. At Cashfree Payments, our vision is to consistently innovate and forge solutions that make digital payments faster, safer, and more convenient.” The business claims that CVV-free payments retain the greatest degree of security and guarantee adherence to Reserve Bank of India (RBI) rules.

The functionality offers various small companies and their consumers a seamless and secure purchasing and transaction experience, according to Ramakrishnan Gopalan, Vice-President, Head of Products and Solutions for India and South Asia, Visa. Businesses who use Cashfree Payments' 'Token Vault' solution for card tokenization will have the new functionality enabled automatically. Among payment processors, Cashfree Payments asserts a 50% market share. At a $200 million value, the business raised an unknown sum from SBI in 2021.