In line with this, the company has also rebranded itself as Ecom360.
In an interaction with ET, Ecom360 founder and general manager Hriday Agarwal said that the focus for the company is to bring an “entire suite of services and multiple tools” to address different pain points of D2C brands, especially across ecommerce enablement.
Ecom360 currently works with 1,500 merchants and offers them services such as return-to-origin reduction on returns, fraud detection and address pre-filling on checkout pages to help brands improve their shopping experience.
It may also look at other solutions related to helping D2C entrepreneurs manage their online stores, in the future.
“In the longer run, we want to solve the biggest pain points of D2C brands, and will build or integrate multiple tools to give merchants a cohesive solution. What we are seeing is that every merchant wants a consolidation in different tools they use and it is essential for us to do this,” said Agarwal.
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Even Pine Labs’ payment gateway (PG) Plural has been actively focusing on the D2C segment since its launch in 2021. With Ecom360, Cashfree is actively trying to step up the competition with rivals for D2C merchants. Currently, Cashfree offers Ecom360’s suite to some of its 300,000 merchant partners. Ecom360 expects to offer Cashfree’s payment gateway in case a merchant hasn’t partnered with a PG yet.
Last year, even unified payments interface (UPI) leader PhonePe launched its own gateway, increasing competition in an already crowded space.
Cashfree’s competitors include the likes of Razorpay, BillDesk, and CCAvenue, among others.
Cashfree continues to be barred from onboarding new users for payment gateway services, as the Reserve Bank of India (RBI) has asked it and rival Razorpay to undergo fresh audits.
The company fired nearly 100 employees in January to reduce its cash burn, ET had reported.