Payment gateway platform Cashfree Payments has acquired one-click checkout platform Zecpe for an undisclosed amount.

Zecpe, which will operate as a wholly-owned subsidiary of Cashfree Payments, enables e-commerce businesses to increase checkout conversion rates by speeding up the checkout process for customers, the company said in a media statement on February 28.

The acquisition may enable Cashfree Payments to offer additional value-added services such as reduced return-to-origin (RTO), fraud detection and address pre-filling.

Payment gateway Cashfree, founded by Sinha and Reeju Datta in 2015, enables businesses in India to receive and pay money online.

In 2021, it raised strategic funding from the State Bank of India (SBI), India’s large-at post-money valuation of $200 million.

Zecpe founder Hriday Agarwal will join the Cashfree Payments team as Head of E-commerce and Checkout. Zecpe employees will also join him in Cashfree Payments to help further scale the product, the statement said.

Cashfree Payments claims over 3 lakh merchants accept and pay through all available methods.

The company had earlier acquired Telr, a leading payment service provider in the UAE and Saudi Arabia, to expand its footprint in the MENA region.