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Fintechs push AI, new protocol to simplify backend tools for merchants

Cashfree and Razorpay use AI agents and a new protocol to simplify backend systems and automate payments, easing merchant operations across fintech platforms

Fintech companies are tapping into traditional forms of banking products such as fixed deposits (FDs) as they expand their financial services bouquet.
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With AI, MCP and payment APIs, the entire process can be automated after being initiated in natural language, like English.

Ajinkya Kawale Mumbai

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Business-to-Business (B2B) fintech companies like Cashfree Payments and Razorpay are making it easier for businesses (merchants) to manage complicated backend systems. They are doing this with the help of artificial intelligence (AI)-powered agents and a tool called “Model Context Protocol” (MCP).
 
The MCP is like a “universal connector” — in other words like a USB-C port — that allows different software systems to work together easily. This enables AI agents and assistants to interface directly with core application programming interfaces (APIs), streamlining integration for merchants of all sizes.
 
Without it, businesses would require manual and complex integration of