Cashfree Payments posted a loss of Rs 135 crore in FY24 amid a ban on new merchant onboarding.

Cashfree Payments reported a loss of Rs 135 crore in FY24, slightly up from Rs 133 crore in FY23. The company's income rose 5% to Rs 642.7 crore, but losses increased due to a Reserve Bank of India ban on onboarding new merchants from December 2022 to December 2023. Total expenses grew 3.9% to Rs 779.4 crore. Cashfree's main competitors include Razorpay and PayU, both of which show stronger financial performance.

November 04, 2024
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