back Back

PayMate accelerates expansion across CEMEA and APAC

By Leandra Monteiro

June 12, 2023

  • APAC
  • B2B Accounts Payables
  • B2B Payments
Share

PayMatePayMate India Limited, a digital business-to-business (B2B) payments and services provider announced that the Company multiplied its footprint across more regions in Central Europe, the Middle East, Africa (CEMEA) and the Asia Pacific; in addition to India and the UAE.

Speaking on this expansion, Ajay Adiseshan, Founder & CEO, PayMate said, “At PayMate, our mission is to create and offer more avenues for using commercial credit cards so that the collateral-free credit on them can be utilized in an effective manner. This helps corporates of all sizes to pay their suppliers and resolve cashflow challenges. Our existing customers in India and UAE are already using our Platform very effectively and with the success in these two geographies, we are now geared up to extend our solutions to businesses in more countries in CEMEA and APAC. The global expansion is part of our mission to consolidate our position as a global leader in B2B payments.”

The move comes six months after the Company announced its foray into Singapore, Sri Lanka and the Kingdom of Saudi Arabia. PayMate has incorporated and registered its entity in four more markets – the Sultanate of Oman, South Africa, Malaysia and Australia. In Australia and South Africa, the company has incorporated under the trade name DuNoMo as a wholly owned subsidiary of PayMate India Ltd.

PayMate will offer its B2B payment automation solutions to small and medium-sized (SMBs) as well as Large Corporate customers and enable them to use their bank-issued corporate credit cards towards their Accounts payables (AP) including supplier payments, bill payments and statutory payments. This will help them to make better utilization of their working capital for strategic business growth.

B2B Payments made in this manner will be settled directly into suppliers’ bank accounts, thereby opening wide acceptance of corporate credit card usage as most of these suppliers don’t accept card payments. The PayMate platform will further enable corporates with configurable approval workflows to give full control and visibility into cashflows with detailed reports, reconciliation and APIs for ERP integration with existing legacy systems.

Previous Article

June 12, 2023

Uganda’s Zofi Cash secures $1m to scale salary advance services

Read More
Next Article

June 12, 2023

Mbanq & Qorbis partner to create personalised FinTech solutions for brands

Read More






IBSi Daily News Analysis

June 21, 2024

APAC

Industry experts react after India FIU fines Binance $2.2m, signaling tougher digital asset regulations

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 21, 2024

MECCA & Adyen to offer a seamless payments experience in Australia

Read More

June 21, 2024

Vipps, MobilePay launch cross-border P2P payments in the Nordics

Read More

June 21, 2024

FinTech Focus: Catch latest developments of the week

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023