Mumbai, November 14, 2018: PayMate, a leader in B2B payments; is one of the few Indian companies being showcased at the prestigious Singapore Fintech Festival 2018 in not just one but in two big ways – firstly, as VISA’s preferred Indian partner for B2B payment services and secondly, by showcasing the platform’s APIs at a launch initiative led by ASEAN Financial Innovation Network (AFIN).
The PayMate platform that allows corporate customers with an end-to-end automated procurement to payments cycle; is being positioned as a part of Visa India’s preferred partner to gain stronghold in the B2B payments landscape from November 12-14, 2018. Additionally, the platform’s APIs will be presented at the launch of API Exchange (APIX), world’s first cross-border, open architecture, online marketplace and sandbox platform by AFIN. This exposure promises to increase the company’s visibility across Asia via a trusted and neutral platform.
Speaking on such high-profile opportunities, Ajay Adiseshann, Founder & CEO, PayMate India Pvt. Ltd. says, “This is a huge opportunity for us to show off our innovative technology and hard work that has gone into building a comprehensive procure-to-pay platform suitable for any size of business. By doing so, we continue to abide by our mission of enabling more and more businesses to automate their entire payment processes in an easy and efficient manner. Showcasing our platform in such unique and innovative ways will help us explore new avenues for the near future.” Speaking about the Visa partnership, Ajay adds, “We are proud to have teamed up with the global leader in payments and are committed to help businesses of all sizes migrate from cash and cheques to digital payments using commercial cards.”
Ms. Chavi Jafa, Head, Business Solutions, India and South Asia, Visa adds, ‘In response to growing demand for digital payments by corporations, Visa has a deep focus on B2B payments for the Indian market. Working with our key clients, we have taken to market comprehensive solutions for B2B use cases. We have worked with PayMate as our preferred partner for invoice-based payments in India for the past year. Our partnership delivers an end-to-end solution for corporations, ensuring that they benefit from process efficiency, enhanced working capital and scalability across India.’
PayMate has been growing at an exponential rate in the last year and has added more than 10,000 businesses on its platform, bringing the overall customer base to over 25,000 with over $3B in transaction processing volumes. PayMate was recently awarded the Best B2B Payment Solution Provider award at the Payments & Cards Summit 2018. Earlier in May, PayMate announced the acquisition of Zaitech Technologies Pvt. Ltd. (Z2P), a digital lending platform.
About PayMate India
PayMate is a leading provider of Business-to-Business (B2B) digital payment solutions, helping large Enterprises and SMEs transition from traditionally slow and costly forms of payments like cash and checks to real-time and efficient digital payments. The platform provides business customers the ability to automate and seamlessly manage vendor payments (AP), customer payments (AR), invoicing, discounting and clear visibility of cash flow. PayMate has a customer base of over 25,000 businesses and has recently acquired a digital lending firm named Zaitech Technologies Pvt. Ltd. The company was launched in 2006 and was one of the early adopters of mobile payments in India. Headquartered in Mumbai, the company has been funded recently by Lightbox Ventures and Mayfield Fund. PayMate has been awarded for this year’s ‘Best Fintech Company’ by ET Now’s Leaders of Tomorrow and has also been presented as ‘Best B2B Payments Solution Provider’ by the Payments and Cards Summit 2018. For more information, visit www.paymate.in or follow us on @PayMate_In.