Cashfree Payments’ flowWise is revolutionising payments for D2C brands

There has never been a better time to be a D2C brand in India. According to a report by Redseer Strategy Consultants, the Indian D2C market is estimated to achieve a gross merchandise value (GMV) of $30-35 billion by 2027, at a compound annual growth rate of around 40%. However, this growing industry is facing challenges: competition, fluctuating customer demand, omnichannel presence and, importantly, payments. 

The problem of payments presents a significant challenge to overcome for D2C businesses. From low conversation rates, to card abandonment due to payment failures and broken checkout processes,problems with payments can hamstring a fledgling D2C brand. A lack of smooth and seamless payment experiences can have a detrimental impact on conversion rates and overall customer trust in the brand. 

More and more Indian businesses are now striving to meet customer expectations for seamless checkout and zero-failure payments. Cashfree Payments, aware of this growing need, has recently introduced a new platform, flowWise, to help democratise payment orchestration to help Indian businesses - especially D2C brands - manage a range of payment partners through a single platform. Furthermore, flowWise empowers merchants to manage all refunds across all gateways within the platform, provides automated reconciliation across multiple payment gateways, and allows brands to visualise advanced analytics on a single dashboard.

AI-powered, scalable, and affordable, flowWise is a one-stop destination for payment management solutions.

Multiple gateways for a smooth payment experience

The sustainable growth of D2C brands relies heavily on a seamless payment experience. Unsatisfactory payment experiences can result in greater customer attrition and drop-offs. According to Baymard Institute, 70.19% of online shopping carts are abandoned during the checkout process. This is directly linked to the lack of availability of a customer’s preferred payment method.

How can brands resolve the hassle of integrating multiple payment gateways, especially given the cost and technological effort involved? Payment orchestration allows businesses to integrate a variety of payment gateways and processors through a simple application programming interface (API).

This is essential as payment processing has become more complex and fragmented with the evolution of the payment ecosystem. Orchestration empowers merchants to offer new payment methods and enables them to adapt to emerging payment technologies. It enables D2C brands to stay competitive in a rapidly changing environment, offering an updated and smooth payment experience for customers. flowWise is positioned to lead this shift by catering to brands like Pilgrim, Shriram Finance, Rentok, Faircent among others, which require more control over payments. 

By leveraging multiple payment processors and advanced routing systems, payment orchestration platforms reduce the risk of a payment being declined, maximising acceptance rates.

flowWise, Cashfree’s payments management solution, can definitely increase success rates, optimise the payment gateway costs and ensure that no gateway integrations are needed in the future.

FlowWise: One integration for many payment gateways

D2C businesses looking to gain a competitive edge in the market through streamlined payment processes should look to Cashfree Payment’s new scalable and cost-effective payment orchestration platform. flowWise provides a smooth payment experience for buyers and sellers, improves payment operations to boost conversion and revenue, reduces orchestration costs for merchants - while enhancing payment security and ensuring fraud prevention.

Powered by AI-driven routing, the platform ensures a 5-10% increase in payment success rates by dynamically switching between PGs, lowering cart abandonment by 10-15%.  

What’s more, FlowWise offers a simple and efficient experience not just for customers, but merchants as well. D2C businesses that do not have the time, or money, to complete a 6-8-week API integration will find flowWise’s no-code integration a welcome alternative.

The platform also offers efficient payment routing and optimisation for large-volume transactions and payment surge. A single dashboard allows businesses a chance to monitor transactions across multiple gateways, compare success rates, and manage the refund process - allowing businesses to reduce their operational overhead by 90%. Customers can expect a unified checkout experience built through an interoperable token vault. One-click checkouts make for a smooth, secure and swift payment experience. Additionally, merchants no longer need to worry about integrating payment gateways in the future, as they can integrate with any payment gateway in the future with a click of a button. flowWise has it handled.

What makes flowWise different?

flowWise is a 360-degree solution for payments, offering multiple payment gateway access, refunds, reconciliations and settlement analytics. It is an essential solution for up-and-coming D2C brands that want to expand and grow since, typically payment orchestration solutions are curated for enterprises only. As a comprehensive payments management solution, flowWise levels the playing field, allowing D2C merchants a springboard to success with a range of features.

• With a single-point payment management system, flowWise offers a frictionless customer experience, reduced cart abandonment, and increased revenue. 
• D2C brands can bundle Cashfree’s One Click Checkout (OCC) with flowWise, creating seamless shopping experiences for customers.
• It supports the widest variety of payments, offering everything from UPI to international card, allowing businesses to appeal to a diverse customer base.
• Provides enterprise-grade payment infrastructure with minimal upfront cost, making it easily accessible to small and mid-sized businesses. 

flowWise has seen spectacular growth since its launch in December 2023. It has reported tremendous overall growth with a 500% growth in active monthly users.

It really is a good time to be a D2C brand in India, and flowWise is making it even better.