Cashfree Payments’ Secure ID launches AI-powered, multilingual Video KYC; Aims to boost user conversions by up to 80%
- Built to empower NBFCs, banks, lending
platforms, insurance companies, and other regulated entities to digitally
onboard users pan-India, including tier 2 and tier 3 regions
- Supports low-bandwidth environments and makes
pre-call form-filling 7X faster
- It is
mobile-first, compatible with 10k+ devices and provides access to over 20
regional languages with live AI-based translation during calls
- The platform boasts of AI-powered fraud
detection capable of running more than 20 real-time checks, including deepfake
and spoof detection
Bangalore, June 11, 2025: Cashfree Payments’ risk and verification arm, Secure ID has announced the launch of
an RBI compliant, AI-powered Video KYC
(VKYC) solution today. Aimed to boost
user conversions by up to 80%, the platform is built to empower NBFCs,
banks, lending platforms, insurance companies, and other regulated entities to
digitally onboard users pan-India, including tier 2 and tier 3 regions.
Commenting
on the launch, Reeju Datta, Co-founder,
Cashfree Payments said, “At Cashfree Payments, we understand the risk and
compliance needs of Indian businesses. Our AI-powered Video KYC is designed to
address one of their biggest pain points—secure, compliant, and seamless
customer onboarding. By reducing fraud and drop-offs, and enabling real-time
verification even in remote areas, this solution will help businesses expand
and scale faster. It’s a step forward in our mission to power growth with
accessible, trusted, and future-ready financial infrastructure.”
As
per data presented in the Lok Sabha, India has lost ?107.21
crore to cyber fraud in the first three quarters of the ongoing financial year (FY25). With
digital identity fraud on the rise and manual KYC processes plagued by high
drop-offs and operational inefficiencies, the demand for a secure, scalable,
and user-friendly solution has never been more critical. Traditional onboarding
journeys often require users to fill lengthy forms, suffer long wait times, and
navigate complex interfaces, leading to user fatigue, compliance gaps, and high
operational costs.
Cashfree’s
VKYC redefines the onboarding experience by offering an AI-assisted video KYC
journey that supports low-bandwidth environments and makes pre-call
form-filling 7X faster. It is mobile-first, compatible with 10k+ devices and
provides access to over 20 regional languages with live AI-based translation
during calls, ensuring every Indian gets onboarded with ease, regardless of
device or language.
To
combat user drop-offs, Cashfree’s VKYC integrates smart queue management with
dynamic agent routing, priority queuing, and AI-powered nudges via WhatsApp,
SMS, and email. Slashing live call duration to under 3 minutes (vs. 8-10 mins
average), it enables each agent to handle over 200 calls per day. The platform
boasts of AI-powered fraud detection capable of running more than 20 real-time
checks, including, deepfake and spoof detection, PAN-Aadhaar match, face match,
liveness detection, and geo-tagging, helping financial institutions reduce risk
while remaining compliant with RBI and IRDAI guidelines. The system also
generates tamper-proof, RBI-compliant audit trails in real time, boosting
auditor efficiency through AI-powered tools.
Cashfree’s
VKYC integrates with the company’s broader SecureID stack, which offers a range
of APIs for identity verification and fraud prevention. With VKYC, Cashfree
Payments is doubling down on its commitment to reimagine the future of digital
identity verification and fraud prevention for businesses, enabling them to
onboard the next billion users with trust, speed, and simplicity.
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About Cashfree Payments:
Cashfree Payments is a leader in payments
in India. Founded in 2015, Cashfree Payments processes transactions worth $80B
annually for more than 800,000 businesses.
Businesses use Cashfree Payments to
collect payments from 100+ payment methods, make payouts, make cross border
payments, improve conversions with a one-click checkout, recover abandoned
carts, and predict and reduce returns. With an easy onboarding and integration
process, and compatibility with popular merchant platforms like Shopify, Wix,
Wordpress, WooCommerce, WhatsApp, Cashfree Payments enables businesses to start
transactions within a day. Cashfree Payments directly connects with all payment
networks and owns its payment processing technology end-to-end, ensuring higher
success rates and reliability. Built for scale, it enables businesses to
process an industry-leading 12,000 transactions per second, handling peak
demand effortlessly.
Alongside payments, Cashfree Payments
offers SecureID, an identity verification stack with a comprehensive suite of
APIs and KYC components. SecureID enables fintechs and startups to streamline
compliant onboarding and KYC flows by minimising user inputs, thus reducing
drop-offs, intelligently verifying identity documents, and detecting fraud and
anomalies with high accuracy.
Cashfree Payments is authorised by the
Reserve Bank of India to operate as a payment aggregator for both domestic and
cross-border payments, and was one of the first entities to be authorised. It
is also authorised to issue Prepaid Instruments.
Cashfree Payments is backed by Silicon
Valley investor Y Combinator, Apis Partners, State Bank of India (SBI), and was
incubated by PayPal.