Cashfree Payment announced today it is assisting the subscription-based furniture rental company Furlenco, in creating a fastest security deposit refund experience for its customers, through its Payouts link solution ‘Cashgram’.
How it works
The furniture rental company collects security deposits at the start of the subscription plan. Once the subscription ends, Furlenco teams pick up the furniture from the customer site and the security deposit is credited back to the customer's preferred account using a Cashgram link.
As soon as the Furlenco system identifies the return is completed, the system auto-generates a Cashgram link using Cashfree Payments’ Cashgram API with the registered phone number or email id of the customer and refund amount.
The customer receives the link over Whatsapp/SMS/email and can open the link, enter preferred bank account details or UPI ID or other wallet details where the customer would like to receive the refund money. This helps customers get the refund credited without having to share their sensitive bank account details.
This payout system takes care of all the backend activities and automates the refund process for the business, Cashfree Payments said in a press statement. The end customers can also claim refunds instantly even during bank holidays and weekends.
Furlenco's payout process
Founded in 2012, Furlenco provides furniture and home decor on rent along with relocation services. Prior to integrating Cashgram, Furlenco’s payout process was majorly manual and highly procedural in nature.
Reeju Datta, Co-Founder, Cashfree Payments said, “Through Cashgram, we have been helping Furlenco in making the entire process of Payouts simple, stable and seamless.”
Varun Krishnakumar, Director of Products, Furlenco said, “The partnership with Cashfree Payments has allowed us to render fast, secure and user-friendly settlements, thereby enhancing the overall customer journey. Also, from the automation and scalable point, Cashgram has been phenomenal. The time saved, in turn, has allowed us to interact more with the customers in devising more effective and innovative procedures, thus creating a better value proposition.”