Mumbai,23rd June 2023 Mumbai-based Drone maker ideaForge Technology is the pioneer and the pre-eminent market leader in the Indian unmanned aircraft systems (“UAS”) market, with a market share of approximately 50% in fiscal 2022 has fixed the price band at ₹638 to ₹672 per Equity Share for its maiden public offer. The initial public offering (“IPO” or “Offer”) of the Company will open on Monday, 26 June, 2023, for subscription and closes on Thursday, 29 June, 2023. Investors can bid for a minimum of 22 Equity Shares and in multiples of 22 Equity Shares thereafter.

The public issue with a face value of Rs 10 per equity share comprises of Rs 240 crore of fresh issue and an offer for sale of 4,869,712 equity shares. The offer also includes a reservation for a subscription by eligible employees.

On June 15, 2023, the company, in consultation with the lead bankers to the issue, raised Rs 60 crore in a Pre-IPO placement from institutional investors, including Tata AIG General Insurance, 360 ONE Special Opportunities Fund- Series 9 and 10, Motilal Oswal Midcap Fund, and Think Investments PCC, a foreign institutional investor.

The proceeds from its fresh issuance to the tune of Rs. 50 crore will be utilised for repayment / prepayment of certain indebtedness availed by the Company, Rs 135 towards funding working capital gap, Rs 40 crore for investment in product development and general corporate purposes.

The Company through its IPO will fetch Rs 550.69 crore – Rs 567.24 crore at the lower and upper end of the price band.

ideaForge Technology has been backed by several marquee ventures and private equity investors including Qualcomm Asia, Infosys, and Celesta Capital. Mathew Cyriac backed Florintree Enterprises is the single largest shareholder in the company with approximately 11.85% stake had invested in the company in April 2022.

The Mumbai-based company had the largest operational deployment of indigenous UAVs across India, with its drone manufactured taking off every five minutes on average for surveillance and mapping. It is one of the few original equipment manufacturers (“OEMs”) in the world that have its own exclusive autopilot sub-system and ground control software and takes full integration of its payloads, communication system and packaging.

Founded in 2007 and led by first-generation entrepreneurs, ideaForge has a first-mover advange and primarily caters to customers with applications for surveillance, mapping and surveying. Its customers include the armed forces, central armed police forces, state police departments, disaster management forces, forest departments besides other civil customers.

Having more than a decade of experience in operationalizing UAVs, it is one of the first few companies in India to enter the UAV market and stands 7th globally in the dual use category i.e civil and defence as per the report published by Drone Industry Insights in December 2022. It plans to expand its offerings and operations to Bangladesh, Vietnam and Nepal

The Company was incubated by the Society for Innovation and Entrepreneurship (“SINE”), IIT Bombay and subsequently by CIIE Initiatives, IIM Ahmedabad. As on June 17,2023 it had 25 patents granted and 37 patents pending.

ideaForge had an outstanding order book of Rs 192.27 crore as on March 31, 2023.

The drones ideaForge currently manufactures Middle Mile drones which are differentiated basis weight, endurance, take off altitude range, communication range as well as the kind of payload it is supposed to carry. Switch UAV, Netra V4+ and V4 PRO UAV, Q6 UAV, Ninja UAV, Q4i UAV, and Ryno UAV are examples of ideaForge drones that are rugged unmanned aerial vehicles (UAVs) that have been tested in extreme weather conditions and high altitudes across India from deserts to glaciers and offers the highest technical life of 2,000+ landings. It plans to expand its product portfolio to Tactical UAVs and Last Mile Logistic drone too.

Comparing the last 2 fiscals, its revenue from operations increased by 16.66% from ₹159.44 crore in the Fiscal 2022 to ₹186.01 crore in the Fiscal 2023, whereas profit after tax stood at Rs 31.99 crore in Fiscal 2023.

JM Financial Limited and IIFL Securities Limited are the book running lead managers and Link Intime India Private Limited is the registrar for the issue.

Notes for Reference :

Issue Size of the IPO based on the upper and lower end of the price band

New Delhi, 23rd June 2023: Sukoon Health, India’s premier chain of mental health hospitals, has unveiled its state-of-the-art Drugs and Substance Recovery Centre in Chhatarpur, New Delhi. This Recovery Centre adopts a unique 360-degree approach to deliver comprehensive and personalized care for individuals facing challenges with alcohol and substance abuse. Each patient will receive a specially tailored care plan to address their specific needs.

To counter growing alcohol and substance abuse amongst Indians, Sukoon plans to open 20 Rehab Centres across major metros over the next 6 years.

According to a national survey conducted by the government, a staggering 1.58 crore children aged between 10 and 17 years are addicted to substances. Alcohol addiction is most common followed by Cannabis and Opioids. About 16 crore people consume alcohol and more than 5.7 crore are dependent on alcohol and need help. The survey also states that 3.1 crore people use cannabis and about 25 lakhs suffer from cannabis dependence, while 2.26 crore people use opioids and approximately 77 lakhs require help for opioid-related problems.

Sukoon Recovery Centre offers residential programs for alcohol and substance abuse to help residents achieve long-term recovery. Sukoon’s globally benchmarked and evidence-based program is available to individuals from all over the world, and the team is dedicated to providing personalized care that addresses each individual’s unique needs.

“Our fundamental conviction is that every individual possesses unique needs that demand personalized care,” expresses Vidit Bahri, the Co-Founder & Chief Growth Officer of Sukoon. “With our holistic 360-degree approach, we embark on a journey to comprehend the intricate symptomology of each person, crafting bespoke treatment plans that cater to their distinct requirements. As we dedicate our resources, we aim to meticulously measure patient outcomes, with an unwavering determination to substantiate the efficacy of our program. Together, we stride forward, melding clinical precision with an unyielding belief in the potential of personalized care.”

The approach is a move away from the traditional ‘one-size-fits-all’ treatment programs that have been used for years. Instead, Sukoon’s treatment program is tailor-made taking into consideration each individual – mind, body, and soul. The program addresses every psychological, physical, and psycho-social element that could have a bearing on an individual’s well-being through a comprehensive range of medical, psychological, and physical assessments and treatments.

The treatment journey lasts four to six weeks, during which the medical team provides a comprehensive treatment plan that includes a medical and physical check and extensive laboratory tests. Based on the results of these assessments, the doctors create a detailed treatment plan in collaboration with the rest of the multidisciplinary team that is 100% tailored to the individual’s situation and needs.

The treatment plan includes a daily schedule that offers a range of services, including medical checkups, pharmacological intervention for relapse prevention, comprehensive psychosocial assessments, psychoeducation,
psychotherapeutic interventions, family assessments and interventions, recreational therapy, expressive art-based therapy, physiotherapy, nutritional counseling, personal training, yoga, meditation, and exercise.

In addition to the comprehensive treatment program, Sukoon offers unparalleled hospitality to ensure that the residents feel comfortable and supported during their recovery journey.

Hyderabad, 23rd June 2023.…. Impetus, an innovative conclave aimed at driving digital transformation and empowering industries will be hosted jointly by FTCCI and HYSEA, the leaders in their domain. It will be held in the city at HICC on 23rd June, Friday.

Manisha Saboo, President HYSEA; and Anil Agarwal, President FTCCI, will drive this initiative “Impetus”.

Mr. Mr. SGK Kishore, Executive Director (South) and Chief Innovation Officer – GMR Airports at GMR Group, (Ex. IAS), will grace the event as the chief guest.

Other experts who delve into the theme during one full-day program are K. Mohan Raju, CEO, of Informatics India, Chairman-ICT Committee; J.A. Chowdary, Founder, ISF, and former Special Chief Secretary & IT Advisor to Chief Minister of Andhra Pradesh; V. Laxmikanth (VLK), Managing Partner, Pavestone Capital; Anuradha A, Executive Partner, IBM Consulting; Kiran Kuchimanchi, President-Digital, Cigniti; Mr. Sunil Mehta, GM, e-F@ctory Strategic Planning, Mitsubishi Electric India, Chandra Balani, Head, Global Enterprise, AWS India and others.

Four different tracks are planned on a few focused industries which include Agri-tech, Food Processing, Manufacturing and Pharma and Healthcare industries

The theme will focus on ‘Unlocking the Potential by Adapting and Accelerating Digital Transformation & Digital Innovation”.

The Panel Discussion on digital transformation in the industry will explore the impact of digital transformation on various industries and the adoption of technologies like AI, IoT and Data Analytics.

A fireside chat is also planned at the end with a celebrity start-up founder- Mr. Raja Gayam, Chief Executive Officer, Biliti Electrics.

Several success stories will be shared by industry experts in between the panel discussion on various industries.

In conjunction with the program, an expo is also scheduled to explore digital
solutions by participating delegates.

It will be a distinguished gathering of over 250 industry leaders, government officials, and technology enthusiasts. It will be a platform for meaningful networking and knowledge sharing.

India, 22nd June 2023– SafEarth, India’s largest technology platform for adoption of renewable energy has today announced the successful completion of its recent funding round of INR 35 Million. The funding was led by Anthill Ventures, Third Derivative and Mumbai Angels. This investment will fuel SafEarth’s product development initiatives and support its expansion into new industrial belts across the country.

SafEarth has distinguished itself by helping industries reduce their carbon emissions by shifting from thermal power to solar energy at scale. With over 100 completed industrial solar projects and a deployed capacity of 171MW, SafEarth has enabled the saving of over 300,000 tonnes of carbon emissions. Collaborating with renowned companies like Toyota Technopark, Everest Industries, Ather Energy, and Mondelez India, SafEarth has facilitated extraordinary savings of Rs 50 crore above industry averages during the transition to solar energy. Moreover, the platform has generated business worth over Rs 800 crores for solar installers.

SafEarth’s marketplace streamlines clean energy procurement process for industries, reducing time by 50%, cost by 10%, and errors to zero, resulting in over 20% increased project returns. Then, their project management automation tool, Solar Flow, ensures efficient implementation and quality assurance. Furthermore, Solar Flow monitors electricity consumption in real-time, offering recommendations for reducing costs and achieving sustainable long-term savings. SafEarth’s capabilities empower industries to embrace solar energy and drive environmental sustainability.

The company offers a comprehensive suite of products powered by their advanced tech stack. The platform uses data driven insights to map out an industry’s electricity consumption and design the perfect solar plant to optimise its energy usage. SafEarth then implements these projects through a network of pre-screened execution partners. Their Solar Flow tool ensures flawless execution of projects, resulting in a 0% failure rate and helping them exceed generation guarantees. SafEarth then monitors their client’s energy consumption in real time to enable continuous optimization, empowering businesses to achieve significant energy savings, reduce carbon emissions, and contribute to a sustainable future. SafEarth’s innovative tech stack drives impactful solutions for a cleaner environment.

Harshit Poddar, Co-Founder, SafEarth emphasized the importance of their platform’s effectiveness, which played a significant role in attracting investors. He stated, ” Through our advanced tech stack and comprehensive suite of products, SafEarth is driving the transition to sustainable energy sources and helping industries reduce their carbon emissions at scale. The recent funding round not only validates our mission but also empowers us to accelerate product development and expand our reach to new industrial belts across India. Together, we can build a cleaner and more sustainable future.”

Gruhas ASPIRE, a leading proptech accelerator led by Gruhas Fund, DLF Family Office, and Anthill Ventures have played a crucial role in SafEarth’s journey. Through the accelerator program, SafEarth was able to access valuable resources, mentorship, and industry connections, accelerating its growth and market reach.

Sailesh Sigatapu, Partner, Anthill Ventures expressed his satisfaction with SafEarth’s progress, stating, “We are delighted to congratulate SafEarth on their exceptional journey and to witness their tremendous growth and impact. SafEarth’s selection as our first cohort of Gruhas ASPIRE program underscores the significance of our accelerator program in nurturing and supporting ground breaking startups. We are excited to witness SafEarth’s continued success and are confident that their achievements will inspire and motivate future cohorts in the Gruhas ASPIRE program to create meaningful and sustainable change in the proptech landscape.

Nandini Mansinghka, CEO, Mumbai Angels said “With this funding round, SafEarth moves one step further into cementing its place as India’s largest tech platform for solar power adoption. We congratulate the dynamic team at SafEarth and hope that they continue the good work of helping industries to optimize energy consumption and transition to clean, renewable power.”

The recent funding round will propel SafEarth’s product development and expand its reach among industries, accelerating their transition to sustainable energy sources. With its integrated platform for solar projects covering engineering, procurement, execution, and financing support, SafEarth has already gained a significant market share, securing 6.67% in the C&I Rooftop Solar space and 5% in India’s overall distributed solar market. SafEarth’s mid-term goal is to facilitate the reduction of one million tonnes of annual carbon emissions through over 1GW of solar projects in the next two years. This funding will play a crucial role in achieving this milestone and empowering industries to reduce one billion tonnes of CO2 equivalent by 2030.

22nd June 2023  – WorkIndia, a leading tech-enabled platform for blue-collar recruitment, has conducted a comprehensive survey on pay parity within the blue-collar industry, shedding light on striking disparities between genders and comparing them to the white-collar sector. The findings expose significant variations in average salaries, with women experiencing a concerning pay gap. WorkIndia is committed to addressing these inequalities and championing fair compensation practices across all industries.

The survey, which encompassed 1,001 blue-collar workers from diverse sectors such as Telecalling, Real Estate, Hospitality, Healthcare, Retail, and E-commerce, offers compelling insights into pay parity dynamics. Of the participants, 48% were female, while 52% were male. The sample size represented a wide range of age groups, with 50% falling between 18 to 25 years, and a mere 3% above 45 years.

Analysis of the data revealed that a majority of manual workers (61%) were male, while 62% of females were engaged in technical occupations, emphasizing distinct occupational preferences within the blue-collar industry.

The survey findings indicate that 58% of participants believed there is existing pay discrimination, both in terms of gender and when compared to the white-collar industry. Notably, a majority of 54% of women reported having personally witnessed pay discrimination due to their gender. Intriguingly, 61% of men acknowledged the existence of pay disparities among blue-collar and white-collar workers, as well as within gender categories.

The study further revealed that 47% of survey participants had negotiated for salary and benefits before joining a company, with 43% of them successfully attaining their desired outcomes through these negotiations.

In terms of average salaries, blue-collar workers earn an average of Rs. 17,080 per month, while their white-collar counterparts secure higher average salaries ranging from Rs. 25,000 to 35,000. These figures underscore the significant wage gap that persists between the two sectors. Similarly, the average salary for men in the blue-collar industry is Rs. 18,612, whereas women receive an average salary of Rs. 15,410. This highlights a substantial difference of 17.2% in earnings between men and women.

Mr. Nilesh Dungarwal, Co-Founder and CEO of WorkIndia, expressed his thoughts on the findings, stating, “WorkIndia is dedicated to fostering fairness and equal opportunities in the workplace. The survey results highlight the urgent need to address pay parity disparities in the blue-collar industry, not only in terms of gender but also when compared to the white-collar sector. We remain committed to working closely with employers, policymakers, and industry stakeholders to drive positive change and ensure that all workers receive equitable compensation for their efforts.”

Of noteworthy significance, the survey findings indicate that participants from Delhi constituted the largest group who acknowledged the existence of pay parity due to gender discrimination followed by Mumbai, Bangalore, and Pune. Cities like Chennai and Kolkata showcased the least belief in the same, reflecting regional variations in awareness regarding this issue.

As a technology-driven employment solutions platform, WorkIndia endeavors to bridge the pay parity gap by promoting transparency, accessibility, and opportunities for blue-collar workers. Through its user-friendly mobile application and web platform, WorkIndia empowers job seekers while enabling employers to make informed hiring decisions, ultimately striving for a more inclusive and equitable workforce.

Unlock the secret to radiant, youthful skin with Laneige’s Radian-C range. Infused with a potent blend of super berry complex, niacinamide, and vitamin C, this skincare line is a game-changer for users of all skin types. Say goodbye to dullness and hello to a vibrant, glowing complexion. What sets this range apart is its hypoallergenic formula, carefully crafted to be safe even for those with sensitive and troubled skin. With Laneige’s Radian-C range, you can finally achieve the radiant, youthful skin you’ve always dreamed of, without compromising on skin health. Get ready to experience a transformation like never before.

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Price : INR 3040 (150ml)

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Laneige Radian-C Sun Cream Cream SPF 50+ PA++++ is a brightening sunscreen that contains vitamin C derivatives to powerfully protect against UV rays and Metasolv™Refreshing and moist sunscreen with a lightweight Airy Formula to be reapplied multiple times.This sunscreen is formulated in such a way that gives the advantages of both Organic and Inorganic Sunscreens.

Price : INR 2000 (50ml)

LANEIGE Radian-C Cream

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[Amersfoort, 22nd June 2023]  — CLEVR, a leading provider of low code and PLM software solutions is excited to announce a partnership with Kongsberg Maritime, a global technology leader in the maritime industry. The collaboration between CLEVR and Kongsberg Maritime aims to accelerate Kongsberg Maritime’s internal digital transformation journey.

This recent partnership showcases Kongsberg Maritime’s trust in CLEVR’s expertise and advanced software solutions. CLEVR will support the company to further developing a key internal tool for digital workflows. Implementing a comprehensive digitalization roadmap will be a key part of the deliveries from CLEVR. Over the next years, CLEVR will provide its services to support Kongsberg Maritime in the digital transformation of their internal workflow and processes.

As a strategic partner of Kongsberg Maritime, CLEVR will contribute its deep industry knowledge and technical expertise to further realize Kongsberg Maritime’s digitalization roadmap. Leveraging their extensive experience in PLM software solutions, CLEVR provides valuable insights, guidance, and best practices to develop our customer’s operations.

Magnus Normann, CRO at CLEVR, expressed excitement about the partnership, stating, “Kongsberg Maritime’s decision to partner with CLEVR is a testament to our commitment to delivering exceptional value and becoming a true strategic partner to our customers. We look forward to embarking on this transformative journey together, empowering Kongsberg Maritime with our state-of-the-art software solutions and strategic counsel.”

By harnessing PLM software solutions, Kongsberg Maritime will unlock new levels of operational efficiency, streamline processes, and enhance collaboration across their entire value chain.

IFU has invested DKK 200 million in UGRO Capital, which is a lending platform for small businesses in India. The investment will assist UGRO Capital in growing their business and increase focus on providing lending that supports the green transition. The investment is made on behalf of the Danish SDG Investment Fund, which is backed by large Danish pension funds and private investors.

Micro, Small and Medium Businesses (MSME) are one of the strongest drivers of economic development, innovation and employment. Access to finance is frequently identified as a critical barrier to growth for MSMEs. UGRO capital is an Indian lending platform for small businesses that need funding to develop their businesses creating economic growth and new job opportunities for people. The company has close to 46,000 customers, a total loan portfolio of DKK 5.1 billion, more than 1,700 employees and 98 branches.

“UGRO Capital was envisaged to be built as India’s largest small business financing platform, combining the power of Data & Tech, and was uniquely created as India’s first listed startup in 2018. This is our second equity capital raise since inception, and we intend to gain 1% market share with 1 million small businesses. It has been our endeavour to change the life of small businesses, and having a global development financial institution like IFU as a partner is helping us achieve our mission at an accelerated pace,” said Mr. Shachindra Nath, Vice Chairman and Managing Director, UGRO Capital.

“We are very pleased to become investor in UGRO Capital, which we believe is a well driven and technologically advanced financial institution having a solid impact by providing business loans to smaller businesses in India,” said Deepa Hingorani, Senior Vice President in IFU.

Focus on climate financing

IFU is investing DKK 200 million in share capital assisting UGRO Capital in growing their business and increasing impacts that so far have supported more than 300,000 jobs. As part of the investment, it has been agreed to develop and implement a climate finance strategy framework as well as climate-related loan products that will support the green transition.

“One of IFU’s main strategic goals is to assist countries and companies in building green and inclusive societies that will reduce greenhouse gas emissions and improve resilience towards climate change. By developing a climate finance strategy as part of our investment in UGRO Capital, we are introducing a new set of instruments that will improve the opportunities for smaller businesses in greening their operations and supporting the green transition in India,” said Rohit Goyal, Investment Director in IFU.

Invested in more than 100 companies in India

The investment is also in line with the green strategic partnership between India and Denmark that was signed by Prime Minister Modi and Prime Minister Mette Frederiksen two years ago. On that backdrop, IFU has received additional funds to invest in climate-related and green projects in India.

“IFU has invested in more than 100 companies in India, and we have a prioritised sector approach towards renewable energy and green infrastructure, financial services, healthcare as well as sustainable food with current investments representing all sectors in India. India is expected to continue being a significant investment destination for IFU in the coming years,” said Deepa Hingorani.

The investment is made on behalf of the Danish SDG Investment Fund, which is a DKK 5 billion public-private partnership backed by large Danish pension funds and private investors.

KAI India, a highly esteemed Japanese manufacturer of top-quality kitchen tools and accessories, proudly presents the Kai Hocho Nakiri Knife. This extraordinary knife is meticulously crafted to elevate precision cutting and streamline the intricate process of preparing fruits and vegetables. With its exceptional cutting capabilities, the Kai Hocho Nakiri Knife aims to revolutionize culinary craftsmanship, making it an indispensable tool in every kitchen.

The Kai Hocho Nakiri Knife showcases remarkable features that enhance its performance and functionality. Its blade, crafted with meticulous attention to detail using both traditional Japanese techniques and modern carbon steel, boasts rustproof qualities and exceptional resistance to dulling. This sharpness guarantees effortless cutting and ensures long-lasting performance.

“The Kai Hocho Nakiri knife comes equipped with an ergonomic handle made of comfortable nylon resin, offering a secure and pleasant grip that enables extended cutting sessions without discomfort or fatigue. Its versatile design effortlessly handles a wide range of vegetables and fruits, excelling in precision slicing and removing potato eyes. The razor-sharp blades preserve ingredient integrity and quality, safeguarding taste and nutrition throughout the cutting process,” says Mr. Rajesh U. Pandya, Managing Director of KAI India. This exceptional knife will elevate the culinary skills of both professional chefs and home cooks alike.

The Kai Hocho Nakiri Knife is available for purchase on their website, https://kaiindiaonline.com/, as well as all leading e-commerce platforms, priced at just INR 649/-. Experience the art of precision cutting and elevate your culinary creations with the Kai Hocho Nakiri Knife from KAI India.

Bengaluru, 22nd June 2023: Cashfree Payments, India’s leading payments and API banking company, announced the launch of CVV-free card payments for partner businesses. CVV-free payments allow customers to experience faster, smoother, and more convenient checkouts for saved(tokenized) cards on major networks such as Visa, Mastercard, and RuPay. By eliminating the need for CVV entry, the checkout process is streamlined, reducing transaction time by up to 5 seconds. CVV-free payments maintain the highest level of security, ensuring compliance with the Reserve Bank of India (RBI) regulations.

CVV-free payments eliminate the need for cardholders to manually enter the CVV, a 3 or 6-digit number found on credit, debit or prepaid cards. Previously, incorrect manual entry of CVV resulted in payment failures. With this launch, users can select their saved card, enter the OTP, and complete transactions seamlessly, reducing potential payment failure and friction.

Akash Sinha, CEO and Co-Founder, Cashfree Payments said, “We are excited to introduce CVV-free payments, a game-changing feature that goes beyond user convenience. Credit card and debit card users play a crucial role in the success of digital businesses, contributing significantly to the Indian market. 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. This feature represents a significant stride towards realising that vision.”

Ramakrishnan Gopalan, Vice President, Head of Products and Solutions, for India and South Asia, Visa said, “We are delighted to bring the ground-breaking innovation of CVV-free transactions for tokenized cards to Cashfree Payments and the merchants they support. This gives numerous small businesses and their customers a seamless and secure shopping and transaction experience. We are confident that this reduction of friction will lead to better transaction success and encourage businesses to embrace the digital ecosystem with trust and confidence.”

Gaurish Korgaonkar, Head Digital Payments, NPCI said, “We are pleased to partner with Cashfree Payments for the introduction of CVV-free payments with RuPay cards, taking a significant step forward in our pursuit of delivering enhanced customer experience. By eliminating the need for CVV verification for tokenized cards, we are further streamlining the payment process while ensuring utmost security of sensitive card information. This innovative feature guarantees faster and frictionless checkouts, revolutionising the way users make their payments.”

Ravi Datla, Vice President, Head of Products & Solutions, for India and South Asia, Mastercard said, “Mastercard endeavours to revolutionise the payment landscape and drive the growth of the Indian digital market by making the payment journey seamless and hassle-free for customers. By eliminating the need for manual CVV entry, Cashfree Payments is reducing transaction time and minimising payment failures. The collaboration with Cashfree Payment reflects Mastercard’s unwavering commitment to continuously innovate and provide solutions that accelerate the pace of digital payments, ensuring safety, precision, and convenience for masses”

CVV-free payments are 100% compliant with the Reserve Bank of India (RBI) regulations ensuring highest level of security. The RBI guideline on the Card on File Tokenisation (CoFT) process, ensures enhanced card security by securely encrypting and storing customer’s card details with restricted access limited to card networks and issuing banks.

The CVV-free feature will be automatically enabled for businesses using Cashfree Payments’ ‘Token Vault’ solution for tokenization of cards. ‘Token Vault’ is Cashfree Payments’ tokenization solution which enables merchants to provision and save card network tokens effortlessly, thereby helping merchants in staying compliant with RBI guidelines. ‘Token Vault’ offers an interoperability feature that helps businesses who use multiple payment gateways to process tokenized card transactions across any payment gateway and card network of their choice.

With over 50% market share among payment processors, Cashfree Payments today leads the way in bulk disbursals in India with its Payouts and is also among the leading online payment aggregators. India’s largest lender, SBI invested in Cashfree Payments underscoring the company’s role in building a robust payments ecosystem. Cashfree Payments works closely with all leading banks to build the core payments and banking infrastructure that powers the company’s products. Cashfree Payments is also integrated with major platforms such as Shopify, Wix, Paypal, Amazon Pay, Paytm, and Google Pay. Apart from India, Cashfree Payments products are used in eight other countries including the USA, Canada, and UAE.