Chennai: Digital payments and banking technology firm Cashfree announced that it has recorded a rise of 150 per cent in active/transacting merchants from July 2020 to July 2021 highlighting a gradual and systematic increment in digital adoption among merchants.

In the same period, the number of merchant sign-ups has grown from around 70000 in July 2020 to more than 130000 in July 2021, recording a 95 per cent growth.

Interestingly, almost 30 per cent of the overall merchant sign-ups have been from the e-commerce sector, followed closely by the digital goods and the ed-tech sector.

Cashfree provides full-stack payments solutions enabling businesses in India to collect payments and make payouts via all available methods with a simple integration.