PayMate accelerates expansion across CEMEA and APAC
By Leandra Monteiro
PayMate 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.
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